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Ahead of GIS, Hyderabad investors hail U.P. govt policies; ink MoUs worth ₹25k cr with state
Along with the deputy CM, several other U.P. ministers held one-on-one interactions with more than two dozen investors in Hyderabad.
LUCKNOW Day after signing MoUs worth ₹7,000 crore with Kolkata-based industrialists, the Uttar Pradesh government received investment proposals worth ₹25,000 crore from investors in Hyderabad. The development came as a U.P. ministerial team -- led by deputy chief minister Brajesh Pathak -- held a roadshow and other events to attract investors in the run up to the Global Investors’ Summit (GIS), which is scheduled in Lucknow from February 10 to 12.
Along with the deputy CM, several other U.P. ministers -- including Baby Rani Maurya, minister for women welfare; minister of state (independent charge) Daya Shankar Mishra; and minister of state (independent charge) for environment Arun Kumar Saxena -- held one-on-one interactions with more than two dozen investors in Hyderabad.
According to the U.P. government’s communique, the investments are likely to generate 32,000 job opportunities in the state. The major MoUs signed on Wednesday include -- Megha Engineering and Infrastructure Limited ( ₹15,500 crore); Pulsus Group ( ₹2,000 crore); Asian Institute of Gastroenterology Pvt. Ltd. ( ₹1,500 crore); Vasai Reality Pvt. Ltd. ( ₹1,200 crore); Fourth Partner Energy Pvt. Ltd. ( ₹1,200 crore); Triveni Renewables Pvt. Ltd. ( ₹1,200 crore); NSL Sugars Ltd. ( ₹500 crore); Marine Car Parks ( ₹350 crore); Scalar ( ₹250 crore); Ecolastic Products Pvt. Ltd. ( ₹150 crore); Sudhakar PVC Products ( ₹125 crore); and Atlas Financial Research & Consulting Pvt. Ltd. ( ₹100 crore).
During the day-long event, investors lauded “improvement” in the law-and-order situation in U.P. and said they were keen to contribute in making the state a trillion-dollar economy. Mukesh Kumar Singh, chief financial officer of AIG Hospitals who participated in the events in Hyderabad, said, “The law-and-order situation in the state has improved a lot. We are not only eager to invest in U.P. but also wish to become a partner in the progress of the state.”
Echoing the opinion, Dr Srinibabu Gadela, CEO of Pulses Group, said, “We hope to work in U.P. for a long time and take the state forward along with us.” Similarly, B Srinivas Reddy, director of Megha Engineering and Infrastructure Limited, said “We are happy that U.P. is progressing. We are also willing to contribute our bit in its progress.”
NSL Group chairman M Prabhakar Rao said, “The U.P. government has provided an excellent environment for investment. Investors, who are already in the state, are now thinking in terms of expanding their businesses.” Meanwhile, CS Jadhav and Hitesh M Patel, founder directors of Instashield India Private Limited, praised the incentives and facilities that the state government has decided to provide to investors.
Another prospective investor Vivek Subramaniam, co-founder of Fourth Partner Energy, said that U.P. has, of late, emerged “as a better venue for investment”, adding that he hoped that the possibilities for investors expand in every sector in the state. In a similar vein, CVK Technologies Pvt. Ltd. chairman KC Venkateswarlu, who is eying opportunities in the IT sector, said, “Investors like us will greatly benefit due to the policy reforms carried out by the U.P. government for investors.”
Notably, chief minister Yogi Adityanath held the first such domestic roadshow in Mumbai on January 5. On the day, the state received investment proposals worth ₹5 lakh crore. In less than two weeks, the state managed to secure investment proposals worth ₹10,000 crore from Chennai and worth ₹7,000 crore from Kolkata as well. Previously, the CM had sent ministerial teams to hold international roadshows in 21 cities in 16 different countries. Through foreign roadshows, the U.P. government attracted investment proposals worth ₹7.12 lakh crore.
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Investors from Mexico, Brazil & China to invest ₹1.7k cr in U.P.
An official press release issued by the Uttar Pradesh government on Wednesday said that the state has received investment bids worth ₹1,725 crore from investors in Mexico, Brazil, and China. If fructified, the investments would lead to creation of 4,200 job opportunities. The communique added that six out of 13 investment proposals have already been converted into the MoUs.
