Prominent companies from the oil-rich Gulf region in West Asia are likely to invest nearly $6 billion (about Rs 50,000 crore) in Uttar Pradesh, according to UP MSME Minister Rakesh Sachan. The is expected to flow in a bouquet of sectors, including energy, retail, real estate, electric mobility, Logistics, tourism, Health, Food Processing, etc.
Some of the top firms and investment agencies to be investing in the state include Lulu Group, Abu Dhabi Global Market, Transnational Computer LLC, Burjeel Hospital, etc. For example, Lulu Group will invest Rs 4,500 crore to set up shopping malls and hypermarkets in different cities, including Noida, Kanpur, and Ayodhya.
The UP government also signed an agreement with the 130-member strong Chamber of Commerce and Industry in Abu Dhabi for facilitating investment. We apprised the Gulf about the marked improvement in the Infrastructure, law and order, and connectivity in UP under the present regime.
Meanwhile, Uttar Pradesh Chief Minister Yogi Adityanath is likely to visit a few foreign countries, including the US, as part of the ongoing roadshows for the GIS. At the UP Investors Summit in 2018, the state had garnered investment proposals to the tune of nearly Rs 4.68 trillion. Of these, according to the government, projects worth Rs 3 trillion have already been launched in different sectors and regions in UP.