Uttar Pradesh Attracts 32 Lakh Crore Investment: Investors Submit Proposals
Uttar Pradesh Attracts 32 Lakh Crore Investment: Investors Submit Proposals
- What is the 32 lakh Cr. Investment about
- What does it mean for UP.
- What do the big bulls of India have a say on the Investors’ summit?
- What is the 32 lakh Cr. Investment about?
- Uttar Pradesh Chief Minister Yogi Adityanath praised Prime Minister Narendra Modi during the UP Global Investment Summit 2023 in Lucknow on February 10. He acknowledged the progress made in the past six years the state summit received 18,643 MOUs and an investment of 32,92,000 crore.
- “The Global Investors Summit 2023 is prepared to drive the country’s growth as per the Prime Minister’s vision, embracing his philosophy of “Reform, Perform, Transform”, said Mr Adityanath
- The Chief Minister of Uttar Pradesh has deemed the Global Investors Summit 2023 as the “Mahakumbh” of investment opportunities. He highlighted that through the 18645 Memorandums of Understanding (MoUs) signed between the government and companies across a diverse range of sectors, including renewable energy, real estate, education, tourism, electric vehicle manufacturing, housing, and food processing, the state will experience a significant boost in employment opportunities, with an estimated 92.50 lakh job openings set to be created.
- Earlier, Prime Minister Modi officially, declared that they have received investment proposals worth a staggering Rs 32 trillion.
- What does it mean for UP?
- According to the UP government, the Eastern UP region has received investment proposals worth Rs 9.55 trillion, while the Bundelkhand region has attracted investment proposals worth Rs 4.28 trillion.
- Tata Group Chairman N Chandrasekaran praised the efforts of Prime Minister Narendra Modi, stating that India is experiencing a comprehensive development under his leadership.
- Defence Minister Rajnath Singh stated that in the past, industrialists were often met with disdain, but now they are being welcomed with open arms and given the respect they deserve as the wealth creators of the economy.
- Mukesh Ambani went on to say that the golden era of Uttar Pradesh has just begun and that the Global Investors Summit 2023 was a congregation of development. He emphasized that India has been performing exceptionally well under the leadership of Prime Minister Modi since 2014. He said that a new India is emerging to fulfil the aspirations of 1.4 billion people and the budget presented by the government is aimed at laying a solid foundation for India’s emergence as a developed nation. Ambani highlighted that India is not only experiencing faster economic growth but also comprehensive social development. He added that the country is rapidly adopting technology, even faster than some developed countries, and mentioned the implementation of 5G. He referred to Uttar Pradesh as a ray of hope for New India and said that it is quickly becoming Uttar Pradesh, with noticeable development in infrastructure, better law and order, and ease of doing business. Lastly, he announced that Reliance would expand its 5G mobile services to every town and village in UP by December 2023.
- What do the big bulls of India have a say on the Investors’ summit?
- In addition to the expected benefits from the signed MoUs, Reliance Industries (RIL) Chairman Mukesh Ambani announced that his company would be investing an additional Rs 75,000 crore across various sectors in Uttar Pradesh. At the opening ceremony of the Uttar Pradesh Global Investors Summit 2023 in Lucknow, Mukesh Ambani stated that the additional investment of Rs 75,000 crore by Reliance Industries would generate 100,000 new jobs in the state. This new investment is in addition to the previously committed Rs 50,000 crore that the Reliance Group had pledged to Uttar Pradesh after 2018.
- Tata Group Chairman N Chandrasekaran praised the efforts of Prime Minister Narendra Modi, stating that India is experiencing a comprehensive development under his leadership. Chandrasekaran went on to express his confidence in India’s potential to become a $5 trillion, $10 trillion, and even $25 trillion economy in the future. He also stated that the Tata Group is actively pursuing growth and expansion opportunities in Uttar Pradesh. The Tata Group Chairman added that both Tata Consultancy Services (TCS) and Air India have investment plans in the works for Uttar Pradesh. He also mentioned that Air India has a strategy in place to connect UP to all regions of India.
- Aditya Birla Group Chairman Kumarmangalam Birla announced that his company would be investing Rs 25,000 crore in the cement, metals, chemicals, and finance sectors in Uttar Pradesh. He emphasized that UP is crucial for India to achieve its goal of becoming a $5 trillion economy. He also noted that the business community is closely observing the development plans of the state under Chief Minister Adityanath.
- Zurich Airport Asia is developing the Noida International Airport in Jewar. The CEO of the company, David Bircher, announced that the airport would be operational by 2024.
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