Industrialists From Ahmedabad Ink MoUs To Invest Rs 38,000 Crore In Uttar Pradesh

Over 50,000 employment opportunities will be generated directly or indirectly through the signing of these MoUs in Uttar Pradesh.

Uttar Pradesh Energy Minister AK Sharma addresses at UP Global Investors Summit's roadshow ( Image Source :PTI )

New Delhi: A total of 22 investors from Ahmedabad signed Memorandums of Understanding (MoUs) amounting to Rs 38,000 crores during the B2G meetings and roadshows organised by the Yogi Adityanath's government on Friday, Navneet Sehgal, Additional Chief Secretary in UP's Sports and Youth Welfare department, said.

Over 50,000 employment opportunities will be generated directly or indirectly through the signing of these MoUs in Uttar Pradesh.

Apart from the ones who signed the MoUs, several other investors said they would finalise their investment at the UP Global Investors Summit-23 to be held in Lucknow next month.

"We have been successful in receiving investment proposals of Rs 40,000 crore from Gujarat. Through these MoUs, more than 50,000 employment opportunities will be created directly or indirectly in the state. At the same time, many other investors expressed their desire to invest several thousand crore rupees in UP. They will finalize their investment by participating in the UPGIS 2023," Sehgal said.

Notably, the B2G meetings and road shows were led by Cabinet Minister AK Sharma. He was accompanied by Cabinet Minister Jitin Prasad, Minister of State Jayendra Pratap Singh Rathore and Advisors to Chief Minister Avanish Awasthi, GN Singh and other senior officials of UP Government.

Sharma, who handles Energy and Urban Development portfolio, invited the industrialists from Gujarat to invest in UP, while outlining the Yogi government’s investment-friendly policies.

Amul to set up milk plant in Baghpat with an investment of Rs 900 crore

Before the road show, B2G meetings were held where more than 30 investors spoke about the investment prospects in the state as well as the exemptions and reliefs that are provided by the policies.

Torrent Pharma, a well-known pharmaceutical business from Gujarat, signed an MoU worth Rs 25,000 crore. Apart from this, Amul India signed an MoU of Rs 900 crores to set up a new milk plant in Baghpat district of Uttar Pradesh. Nine MoUs of Rs 1,000 crore and a total of 22 MoUs amounting to Rs 38,000 crores were signed.

Investment proposals received in these sectors

Investments were received in sectors, including Milk Processing Units, Dairy Farm, Research and Development Lab, Training of Herdsman, Renewable Energy, Solar City, Pharma Park, Green Hydrogen, Infrastructure, Textile, Manufacturing, Pharmaceutical, Medical Device Park, Drugs, Healthcare Products, Hotel Industry, Tourism, Chemical sector, Food and Beverage industry, Sports industry, Waste management solution, Multi-specialty hospital, Hydro power plant, Petrochemical industry, Data Centre, Logistics and Warehousing, among others.