Uttar Pradesh investor summit attracts crucial investments

The two-day event provided a global platform, bringing together political and business leaders, senior policy makers and experts from around the world to further the cause of economic development in the state

February 21, 2018

The two-day event attracted investment commitment of well over US$66 billion through over 1,000 deals, just on the first day of the event.

The summit focussed on the sectors of civil aviation, IT services, dairy, electronics, tourism, renewable energy, textile and food processing.

Inaugurating the summit, PM Modi announced plans to set up a defence industrial corridor at the Bundelkhand region of the Uttar Pradesh.

Plan announced to set up two new international airports in the state at Jewar, near Noida, and Kushinagar – centre for Buddhist pilgrimage.

The Uttar Pradesh Investors’ Summit 2018 has revealed lucrative investment opportunities in one of the largest Indian states. The event, organised by the State Government of UP, was inaugurated by Prime Minister Shri Narendra Modi on February 21st. The two-day event attracted investment commitment of well over US$66 billion through over 1,000 deals, just on the first day of the event. The summit focused on the sectors of civil aviation, IT services, dairy, electronics manufacturing, tourism, micro small and medium enterprises, renewable energy, textile and food processing. The summit was attended by more than 6,000 delegates and featured over 150 speakers, and seven nations – Finland, Netherlands, Japan, Czech Republic, Thailand, Slovakia and Mauritius – participated as partners for the event.

The investor summit comes in the backdrop of PM Modi’s call to the states to display their strengths as business and investment destinations to the world. Uttar Pradesh, backed by strong agricultural and industrial traditions, is the third largest economy in India. Favourable policies of the current State Government have complemented  the inherent strengths of the State, transforming the state into a preferred investment destination. At the inauguration, PM Modi said that Uttar Pradesh was working on a One District, One Product (ODOP) scheme to aid investment in the traditional industries of the respective districts of the state. The ODOP scheme stands to gain from a variety of Central Government schemes such as Skill India, Stand Up India, Start Up India and Pradhan Mantri Mudra Yojana.

Business leaders attending the summit included Mukesh Ambani, chairman of Reliance Industries, Gautam Adani, chairman of Adani Group, and Anand Mahindra, chairman of Mahindra Group, among others. At the summit, PM Modi announced plans to set up a defence industrial corridor at the Bundelkhand region of the Uttar Pradesh. The project will involve investment of around US$3 billion and is expected to create around 250,000 jobs. The PM also announced plans to set up two new international airports in the state at Jewar, near Noida, and Kushinagar –  important centre for Buddhist pilgrimage.