UP Global Investors Summit: Aditya Birla Group Commits Rs 25,000 Crore Investment

Kumar Mangalam Birla said when it comes to building new-age infrastructure or providing efficient governance Uttar Pradesh is creating an example for other states to follow

Kumar Mangalam Birla said that UP has attracted FDI worth $1.1 billion in the past three years. ( Image Source :Getty )

Kumar Mangalam Birla on Friday said that Aditya Birla Group will invest Rs 25,000 crore across its various businesses in Uttar Pradesh. Speaking at Global Investors Summit here, Birla said the investment would go into various businesses such as cement, metals, chemicals, financial services, and renewable energy.

He said that the Mumbai-based group's seven businesses have a significant presence in Uttar Pradesh, anchored by over 30,000 employees with an overall investment of Rs 40,000 crore.

Birla said that when it comes to building new-age infrastructure or providing efficient governance Uttar Pradesh is creating an example for other states to follow. In the process, it is creating immense opportunities for investors, both in India and abroad, he added.

"As an early investor in the industrial journey of the state, we feel enthused by the rapid progress that the state is making. Today, the state can rightly be considered one of the key states driving India's journey towards a $5 trillion economy. And therefore, we are committing further investments to the tune of Rs 25,000 crore across our businesses, cement, metals, chemicals, financial services and renewable energy," Birla said.

Investors are already taking note of the changing face of Uttar Pradesh as over the last three years ended September 2022, UP has attracted FDI worth $1.1 billion, he noted.

Birla said the state was earlier a laggard in industrial development, despite having a large consumption base. "That picture is slowly and dramatically changing. Thanks to a pragmatic and industry-friendly administration and rapid pace of infrastructure development," he stated.

The scale of the project and the pace of implementation here are remarkable, Birla said.

"The highway projects crisscross the length and breadth of the state, the metro rail projects or the new airports, the state is upgrading its infrastructure in a transformative way," he said.

The government has also made significant strides in terms of ease of doing business, Birla stated. He also noted that as a global business group, the Aditya Birla Group operates in 36 countries and he can confidently say that India today stands out amongst all of them.

There is perhaps no other country in the world that combines robust democracy, transformational governance, economic mind, demographic dynamism and entrepreneurial energy from renewables to digital governance and space tech to agri innovation, Birla added.

On Friday, Prime Minister Narendra Modi inaugurated the three-day Uttar Pradesh Global Investors Summit 2023 in Lucknow in the presence of UP Governor Anandiben Patel, CM Yogi Adityanath, and Defence Minister Rajnath Singh. The mega event will end on February 12 and is expected to witness the presence of several ministers of the Union and the state government and a host of leading industrialists.