UP Global Investor Summit Achieved Investments From Big Companies Like Reliance, Aditya Birla, Tata, etc.
UP GIS got more investments then they expected from big renowned companies from all over the country. Industry leaders and PM thinks UP has a great scope for growth in the upcoming business market.
The 3 days-long UP Global Investor Summit launched by Prime Minister Narendra Modi paved the way with huge successful investment rounds.
The UP GIS got investment proposals in the amount of 3 lakhs 50 crores over the course of 33 days. As a result, a total of 19058 MoUs were signed in this location. About 93 lakhs, 82 thousand, and 607 people will benefit from this in terms of jobs.
One of the most important summits held by the government of Uttar Pradesh will be the Uttar Pradesh Global Investors Summit in 2023. Policy officials, business delegations, academics, think tanks, and leaders from around the world are all welcomed to this platform to explore commercial prospects in order to quicken the pace of development in Uttar Pradesh and attract investment.
Among the dignitaries present were Chief Minister Yogi Adityanath, Governor of the state of Uttar Pradesh Anandiben Patel, and Defense Minister Rajnath Singh. The PM asserts that this event can help the state become a trillion-dollar economy, achieving the aim of making the country a $5 trillion economy.
Because UP is the industrialists’ first choice at present, different countries all over the world are investing in the State.
According to Rajnath Singh, India’s defense minister, the sector makes a unique contribution to the country’s rising international standing. Pseudo-socialism, according to him, hindered India’s industrialization. There existed a climate that was not friendly to business, but under PM Modi’s direction, public opinion towards the sectors in UP and the country has changed. Now, UP stands for a state that is friendly to investments, an economic hub, and an education hub.
Big companies investing in UP GIS
Mukesh Ambani, the chairman of Reliance Industries, will invest Rs 75,000 crore during the ensuing four years in increasing the size of renewable energy, rising retail networks, and introducing 5G mobile telephony services.
In the upcoming 10 months, his team aims to install 10 GW of renewable Energy Capacity, give 5G services across the State, and provide 10 GW of wireless broadband. He stated that, over the next four years, the company wants to invest Rs 75,000 crore across the Jio, retail, and renewable industries in UP. Ambani said that the fresh investments, in addition to the Rs 50,000 crore already made in the State will create over 1 lakh new jobs in the State.
Ambani also announced the oil-to-telecom conglomerate’s foray into the bio-energy sector during his speech at the event. This business will turn agricultural waste into gas that can be used as fuel in factories, to drive cars, or to light home stoves.
Ambani stated that this move will not only benefit the environment but support farmers by ensuring that they would be able to supply both electricity and food.
Uttar Pradesh has become the center of optimism for the new India, he said.
Ambani stated that India is on a strong economic path and listed four key reasons for this, including the rapid adoption of technology, the country’s large Young Population, the waning of regional disparities, and the amazing optimism of its citizens. The young people in India are full of entrepreneurial fire and drive, he said, and their innovations and ideas would rock the world. He stated that Indians are embracing technology at a rate unequaled even in the developed world.
Similarly to this, Kumar Mangalam Birla, the chairman of the Aditya Birla Group, declared that his company has committed Rs 25,000 crore in investments in the State across its many sectors, like cement, metals, chemicals, financial services, and renewable energy.
According to him, India is showing amazing entrepreneurial dynamism and Innovation. He gave the Prime Minister credit for igniting the country’s economy. The chairman of Tata Sons, Natarajan Chandrasekaran, stated that India will soon have the fastest-growing economy due to the Prime Minister’s forward-thinking leadership. “The Prime Minister has allowed 360-degree development, not just economic prosperity.”
Tata Sons Chairman N Chandrasekaran stated that Air India SATS, a division of Tata Sons, will collaborate with Zurich Airport to build an integrated multi-modal cargo hub at the future Jewar airport.
According to Chandrasekaran, the group’s purchase of the national carrier Air India last year has plans to connect every region of Uttar Pradesh to the rest of India and maybe to international locations. In partnership with our partner Zurich Airport, we will build an integrated multi-modal air cargo (hub) in the new Jewar airport, he announced. The airline’s section for ground handling services is called Air India SATS.
Chandrasekaran added that the hotel industry of the business sees a huge possibility of success in the country for the tourism of different sectors.
All of the state’s cities and villages will get 5G connectivity by the end of 2023, according to Reliance Jio. This will help modernize all commercial and industrial, agricultural, social, and Governmental Sectors, he claims. The company plans to run pilot programs for its two fresh, ground-breaking initiatives, Jio School and Jio AI Doctor, in order to affordably deliver top-notch education and healthcare to Uttar Pradesh’s villages and small towns.
More than 10,000 participants from over (local and international) countries participated in the conference over its 20-day duration.
A number of advanced economies, including the United States, the United Kingdom, Canada, Japan, South Korea, Singapore, Germany, the Netherlands, and the United Arab Emirates, participated in the summit as “partner countries.”
At the UK partner country session on the final day of the UP Global Summit, six MoUs were signed by UK businesses in the security, technology, and defense sectors. Now, Uttar Pradesh will develop into a notable pharmaceutical and medical industry hub. The state received proposals worth Rs 63,475 crore in this industry during the Global Investors Summit.
Up till now, 156 contracts pertaining to the sale of equipment and drugs have been signed. The opening of hospitals in several regions of Uttar Pradesh has been announced by many notable medical industry groups. The people of Uttar Pradesh will soon have access to greater Healthcare services than they did in the past thanks to this.
Singaporean investors inked an MoU worth Rs 29,000 crore for spiritual and ecotourism in Uttar Pradesh at the Uttar Pradesh Global Investors Summit.
The possible upcoming development of UP
Prime Minister Modi previously stated how renowned Uttar Pradesh is for its cultural magnificence, illustrious past, and rich legacy. He claimed that Uttar Pradesh had developed a new identity in about 5–6 years.
The state is renowned for having sound government, improved law and order, and peace and stability. Here, new chances for wealth producers are being created. He predicted that very soon, only one state UP will have five international airports. A Freight Corridor will provide direct access from the state to Maharashtra’s seacoast.
PM Modi also emphasized the prospects for dairy, agriculture, fishery, and food processing in Uttar Pradesh. He claimed that the private sector still only participates in a small part of this industry. He discussed the PLI in the food processing industry with the investors.
He reaffirmed the government’s commitment to providing farmers with an integrated contemporary system from input through post-harvest management. The PM discussed increasing resources for farmers, agricultural diversification, and lowering input costs.
PM Modi highlighted the improvements made to the State’s educational and skill-building systems, naming the Major Dhyan Chand Sports University, Atal Bihari Vajpayee Health University, Mahayogi Guru Gorakhnath Ayush University, and Raja Mahendra Pratap Singh University as institutions that will teach various skill sets. According to PM Modi, the state of Uttar Pradesh has benefited greatly from the strong alliance between the determination of the double-engine government and the possibilities in the State.
Edited by Prakriti Arora
