Top policymakers, industry leaders, academia, think-tanks and leaders from across the world have descended on Uttar Pradesh’s capital Lucknow as the state government hosts the mega Global Investors Summit to explore business opportunities and forge partnerships.
The Uttar Pradesh Global Investors Summit 2023, being held from February 10-12, was inaugurated by Prime Minister Narendra Modi on Friday morning. The event is an important one for the Yogi Adityanath government, which initially set a target to attract investment proposals worth Rs 10 lakh crore and later revised it to Rs 17.3 lakh crore.
News18 takes a look at the key facets of the summit.
Investment Target and Proposals So Far
While the government has set the target of investments worth Rs 17.3 lakh crore, the actual intent of investment proposals has reportedly already touched Rs 27 lakh crore, including proposals worth Rs 7.12 lakh crore from abroad. The total number of MoU’s has also reportedly gone up to 17,782.
The size of Uttar Pradesh’s economy in FY 21-22 was Rs 19 lakh crore. It recorded a 10% growth rate in the pre-pandemic period. The state also boasts of a younger workforce with 56% of the total population in the working age group of 18 to 60 years. It has 8,000-plus institutes of higher education and has imparted skills and training to 15 lakh youth since 2014.
Who’s Attending?
The foreign nations expected to participate in the summit include the United States, Germany, Sweden, France, Belgium, Argentina, Mexico, Canada and Singapore. More than 100 start-ups also attending the summit, hoping to attract investments.
Three tent cities with state-of-the-art modern facilities have been erected for the delegates. Around 13,000 national and international delegates are expected to attend the three-day event.
Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Uttar Pradesh Chief Minister Yogi Adityanath and State Industrial Development Minister Nand Gopal Gupta Nandi as well as industrialists Mukesh Ambani, K Chandrasekaran, Kumar Mangalam Birla and Anand Mahindra will address the inaugural session of the summit.
Union ministers, including Rajnath Singh, Ashwini Vaishnav, G Kishan Reddy, RK Singh, Smriti Zubin Irani and Pashupati Kumar Paras, will attend different sessions on Friday.
President Droupadi Murmu and over 15 cabinet ministers, including finance minister Nirmala Sitharaman, health minister Mansukh Mandaviya, women and child development minister Smriti Irani, and transport minister Nitin Gadkari are also expected to attend the event.
More than 300 renowned industrialists are expected to participate as well. According to a statement, the list of participants includes Mukesh Aghi (USISPF), Swati Dalal (Abbott Nutrition), Navneet Agarwal (Agarwal Packers and Movers), Mahesh Sugru (Tata Motors), Uday Sinha (Ekana Group), Adil Zaidi (Ernst & Young), Dheeraj Kapoor (Flipkart), Dhruv Galgotia (Galgotia University), Dinesh Gupta (Green Ply), Rajeev Garg (Haldiram Group), Sanjeev Kakkar (Indian Oil Corporation), Pradeep Dixit (ITC), Ashish Agarwal (JBM Group), Amar Sinha (Radico Khaitan), Daniel Bircher (Zurich Airport Asia), JB Park (Samsung), Pradeep Kumar Gupta (Sharda University), Kailash Chandra Jhanwar (Ultra Tech Cement) and Jagdish Gulati (United Group).
The Investment Pitch
In the run-up to the event, CM Yogi Adityanath had said the summit will open doors of new possibilities for the youth of the state by bringing in massive investments in various sectors. The youth will no longer have to go to other countries and states for employment, he said while addressing the 11th convocation of GLA University in Mathura earlier this week.
The UP government is advertising the following to make the state attractive to investors:
- Largest consumer base
- Uninterrupted power supply
- Single-window system for investments
- Skilled youth labour
- Largest producer of food grains, milk, sugar, potatoes and ethanol
- Abundant water resources
- Big industrial land bank
- Business-friendly policies
- Improved connectivity with five expressways and a sixth one coming soon; nine airports and long water ways
- Improved law and order
Tour of the Venue
The state government has made arrangements at a vacant land in Vrindavan Yojna located close to the Lucknow Airport and the district headquarters for the event. State-of-the-art hangers equipped with modern amenities have been erected in the 25,000 square meters area.
Along with partner countries including Singapore, Denmark, Japan, UAE, Australia and the UK, space has been allocated to different government departments and private companies to put up exhibitions there.
The roads leading to the event have been spruced up. Roads have been expanded at various places on Shaheed Path, Sultanpur Road, Lohia path, and the road leading to Shaheed Path from Samtamulak crossing.
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