Road to GIS 2023: MoUs worth ₹7k cr signed at Kolkata roadshow, investors hail U.P’s ‘tremendous potential’ – Hindustan Times

LUCKNOW Uttar Pradesh inked 14 MoUs worth ₹7,000 crore with Kolkata-based industrialists as a ministerial team from the state held a roadshow and several other programmes to attract investors in the West Bengal capital on Tuesday. On the occasion, investors lauded investment opportunities available in ‘reformed’ Uttar Pradesh and hailed the ‘transformation’ in the state under chief minister Yogi Adityanath, read the official communique issued on the day.

The series of programmes — led by U.P’s industrial development minister Nand Gopal Gupta — was part of the roadshows being held in eight metropolitans of the country in the run-up to the Global Investors’ Summit (GIS), which is scheduled in Lucknow from February 10 to 12. The ministerial team that conducted programmes in Kolkata also included — Anil Rajbhar, state minister for labour and employment; Daya Shankar Singh, state transport minister; and Ajit Singh Pal, minister of state for information technology.

Addressing investors in a video message, CM Yogi said that India has become a favourable investment destination under the leadership of Prime Minister Narendra Modi. He added that U.P. is moving towards becoming the second-largest economy in the country and is the best place for investment. The CM also pointed out that a record investment of ₹4 lakh crore has been made in U.P. in recent years despite the impact of Covid-19.

According to the press statement, the companies that signed MoUs promising investment in U.P. include — Tata Steel Downstream Products Limited ( ₹250 crore), Haldiram Bhujiawala ( ₹500 crore), Anmol Feeds ( ₹50 crore), Greentech Environment Private Limited ( ₹2,000 crore), Shyam Metalics ( ₹630 crore), Captain Steel India Private Limited ( ₹1,650 crore), Balaji Wafers ( ₹500 crore), Infinity Infotech Parks ( ₹400 crore), and SRBM Steel ( ₹250 crore). The investments are likely to create 14,000 job opportunities in U.P.

Several other Kolkata-based investors also expressed their desire to invest in connecting U.P. cities through transportation services. Besides, some were keen on investing in education, waste-to-energy, hospitals, and tourism sectors, among others. Investors also praised the Yogi government for “improving the law-and-order situation” in the state. “We want to see U.P. serve as the growth engine of New India,” they said.

Abhijit Roy, managing director and CEO of Berger Paints who participated in the event, said that U.P. is an attractive investment destination in terms of MILTE — M-Market, I-Infrastructure, L-Land, T-Tax, and E-ease of doing business. “Modern and progressive investment routes have become the foundation of business in the state,” said Roy.

In a similar vein, Ramakant Barman, managing director of Green Tech Environment Management Private Limited, said that he is looking forward to establishing 4-to-5 waste-to-energy plants in Uttar Pradesh. “Cities such as Lucknow, Varanasi, and Gorakhpur have tremendous potential. There are many ongoing projects in Kashi. Under the Yogi government, traders are safe. The U.P. government has also made adequate provisions for electricity, roads, and water. This is why investors are interested in the state,” he said.

Earlier, the CM had sent ministerial teams to hold international roadshows in 21 cities in 16 different countries. Through foreign roadshows, the U.P. government attracted investment proposals worth ₹7.12 lakh crore. The state government has also organised roadshows in Mumbai, Chennai, and New Delhi. The first such domestic roadshow was led by the CM in Mumbai on January 5. It resulted in the government recording investment bids worth ₹5 lakh crore. In the next few days, the state government received investment proposals worth ₹2.75 lakh crore from New Delhi, and worth ₹10,000 crore from Chennai.

Five Dutch, French companies to invest ₹9.6k cr in U.P.

Five multinational companies based in The Netherlands and France have proposed to invest a cumulative of ₹9,664 crore in Uttar Pradesh. The investments are expected to be made in real estate, chemical, health care, construction, and agriculture sectors of the state, according to a press statement by the U.P. government on Tuesday.

Memorandums of understanding (MoUs) have been signed between the Uttar Pradesh government and these companies. These investments are likely to create 6,800 employment opportunities in the state.

The development comes after a delegation of the state government — led by deputy chief minister Keshav Prasad Maurya and information technology (IT) minister Yogendra Upadhyay — recently visited The Netherlands and France. The delegation met representatives of big industrial houses and officials from both countries and invited industrialists to invest in Uttar Pradesh.

The Dutch companies proposing to invest in U.P. include — Mahler Funds, which will invest ₹2,600 crore in the real-estate sector; and Terro Works, a well-known company in the construction sector that will invest ₹792 crore. On the other hand, French company Patrex AV will invest ₹1,000 crore in the healthcare sector. At the same time, Innotera, another French company in the agriculture sector, will invest ₹1,000 crore.