Lucknow: The UP Global Investors Summit 2023 is making remarkable strides in its mission to attract investments worth ₹10 trillion to the state. With a focus on bolstering the industrial landscape, the summit has resulted in substantial achievements and strategic alliances. From Swedish investments in the Yamuna Expressway Industrial Development Authority’s (Yamuna Authority) Film City project to global giants eyeing defense corridors, the summit has set the stage for transformative economic growth.
Swedish investment in Film City project
A significant milestone was achieved with Swedish investors showing keen interest in the Film City project of the Yamuna Authority. A Swedish construction company has expressed its intention to invest ₹10,000 crore in this venture. The infusion of this substantial capital aims to turn the Film City into a hub of creativity and innovation, fostering economic growth and cultural development.
World-renowned Defense companies eye UP’s defense corridors
Kanpur and Bundelkhand are emerging as centers of defense corridors, attracting prominent global arms manufacturers. The summit has witnessed Saab, a leading arms company, displaying interest in the development of these corridors. This move aligns with UP’s ambition to establish itself as a defense and aerospace manufacturing hub. The UP delegation, led by Industrial Development Minister Nand Gopal Nandi and Public Works Minister Jitin Prasad, engaged with the global business community and showcased the state’s potential.
Exploring investment prospects through bilateral talks
The investment roadshow in Stockholm was marked by engaging discussions in various sectors, including defense, textiles, food processing, automobiles, electric vehicles, renewable energy, waste management, and transportation. High-ranking officials of the UP government, including Chief Secretary Navneet Sahgal and Excise Commissioner Senthil Si Pandian, seized the opportunity to highlight the state’s strengths. Industrial Development Minister Nand Gopal Nandi shared, “Under the leadership of Chief Minister Yogi Adityanath, UP is rapidly advancing towards an economy equivalent to a trillion US dollars.”
Expanding retail and luxury mall chains with IKEA
The delegation also met with representatives from IKEA, which is planning to expand its retail stores and luxury malls in Uttar Pradesh. The global expansion head of IKEA, Jan Christiansson, and Public Affairs Manager Jan Krellina, expressed their intentions to invest ₹4,300 crore for the extension of their retail chain and malls in the state.
Swedish energy company’s green energy investment
Boson Energy, a Luxembourg-based energy company, announced its plans to invest ₹1,000 crore in establishing a waste-to-energy project in Uttar Pradesh. The delegation discussed potential collaboration opportunities in the renewable energy sector during the Stockholm roadshow.
The UP Global Investors Summit 2023 has successfully attracted significant investments and global partnerships, projecting Uttar Pradesh as a destination ripe with potential. With monumental investments pouring in and alliances with international players being forged, the state is set to realize its vision of becoming an economic powerhouse on the global stage.
