Global Investors Summit: Uttar Pradesh Takes Centre Stage
- Overview of the Global Investors Submit 2023.
- The state, with its massive population of over 200 million and its expansive 243,290 sq. km of land, holds incredible potential for growth and development. Representing a significant 8% of India’s total population, this state has the capacity to reach new heights and unlock its full potential through the expansion of investment opportunities within its borders.
- The potential for economic growth and development in the state of Uttar Pradesh, is crucial to attracting investment from both local and foreign investors. By doing so, Uttar Pradesh has the opportunity to position itself as a hub for manufacturing and production, not just within the borders of India, but on a global scale. This will provide a catalyst for the state’s economy to flourish and create a foundation for sustained growth in the future.
- On February 10th, Prime Minister Narendra Modi officially launch the two-day Uttar Pradesh Global Investors Summit in Lucknow, marking a significant step towards the state’s goal of achieving a $1 trillion economy and aligning with the Prime Minister’s vision of making India a $5 trillion economy. This summit will bring together investors from around the world to explore the vast investment opportunities in Uttar Pradesh and drive economic growth and development in the state.
- The Global Investors Summit, set to take place in Lucknow, Uttar Pradesh from February 10th to 12th, will be a defining moment for investors from around the world to converge and make investments in the rapidly rising state of Uttar Pradesh. This flagship event is poised to be a game-changer for the state and provide a platform for investors to capitalize on the abundant opportunities that Uttar Pradesh has to offer.
- Last time the Global Investors Submit (GIS) was held in Madhya Pradesh in the year 2019.
- Overview of Uttar Pradesh’s investment climate and opportunities
- The government of Uttar Pradesh has received proposals from France, the United Kingdom, Singapore, and Mauritius to participate as partner countries in the Global Investors Summit 2023. In the lead-up to the summit, the government will be seeking to establish communication with ambassadors and high commissioners from countries such as the Netherlands, Canada, the United States, Japan, Israel, Sweden, Thailand, France, and Singapore. This represents a significant opportunity for the state to expand its reach and attract investment from around the world.
- The Uttar Pradesh government has announced that, in line with the new industrial investment and employment promotion policy, over 30 sector-specific policies, including those for electric vehicles, toys, textiles, pharmaceuticals, start-ups, data centres, and green hydrogen, are to be prepared by relevant departments and presented before the Global Investors Summit 2023. The departments have been instructed to prioritize practical policy provisions that generate employment and secure a bright future for the state’s youth while creating these policies. This emphasis on creating well-thought-out, practical, and employment-generating policies demonstrates the government’s commitment to attracting investment and promoting sustainable economic growth in Uttar Pradesh.
- The Uttar Pradesh government has emphasized the state’s remarkable economic potential, displaying its position as the third largest economy in India with an impressive Compounding Annual Growth Rate of 11.39%. Uttar Pradesh contributes a significant portion of 8% to the national GDP and boasts a per capita income growth rate of 23%, all of which have caught the attention of the government and serve as a testament to the state’s potential for investment and sustained economic expansion.
- The Uttar Pradesh government has emphasized key advantages that the state offers for investment, including its state-of-the-art rail connectivity technology, a robust and economically competitive labour pool, and its status as a hub for IT and semiconductor production services. These strengths are highlighted as key selling points in the upcoming Global Investors Summit.
- “Several high-profile Union ministers are expected to attend the event, including Defence Minister Rajnath Singh, Union Home Minister Amit Shah, and Union Finance Minister Nirmala Sitharaman, among others.
- Preparing for the 2023 Global Investors Summit p
- The venue for the Global Investors Summit, the Vrindavan Yojana, is undergoing preparation to ensure a seamless and successful event for all attendees.
- In addition to the international and domestic roadshows, the state government is taking a comprehensive approach to the GIS-2023 by also organizing divisional summits at eight divisional headquarters and district-level summits to reach out to a larger number of investors and display the investment opportunities in Uttar Pradesh. The aim is to reach out to as many potential investors as possible and highlight the key strengths and growth potential of the state. The Chief Minister has instructed all relevant departments to begin preparations with a sense of urgency and to establish separate teams to ensure the success of the summit. This comprehensive approach to promotion and outreach demonstrates the state’s commitment to attracting investment and driving economic growth and development.
- The venue of the Uttar Pradesh Global Investors Summit 23 has been organized into seven blocks, with the first block designated for the inauguration ceremony to be presided over by the Prime Minister of India
- Additionally, there will be opportunities for one-to-one meetings between potential investors and the State government representatives, providing a platform for direct interaction and facilitating the investment process. With the UPGIS-23, the State government aims to position Uttar Pradesh as a premier investment destination and attract investment from a diverse range of industries and sectors.
- The venue also features VIP lounges and dedicated lounges for partner countries, including the Netherlands, Denmark, UAE, Italy, and Mauritius.
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