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Gujarat industrialists agree to invest Rs 38,000 crore in UP

The huge investment in UP from Gujarat is expected to generate 50,000 direct and indirect employment opportunities in the State.

SNS | Ahmedabad |

Impressed by the policies and investment friendly atmosphere in Uttar Pradesh, as many as 22 industrialists from Ahmedabad signed memorandums of understanding (MoUs) amounting to Rs 38,000 crores during the B2G meetings and road shows organised in Ahmedabad on Friday.

Through these MoUs, it is expected to help the State generate more than 50,000 employment opportunities directly or indirectly. At the same time, many other investors evinced their interest to invest thousands of crores in the State. These investors will finalize their deal by participating in the UP Global Investors Summit-23 in the capital city of Lucknow in February.

The B2G meetings and road shows in Ahmedabad were led by Cabinet Minister AK Sharma, who was accompanied by Cabinet Minister Jitin Prasad, Minister of State Jayendra Pratap Singh Rathore and Advisors to Chief Minister Avanish Awasthi, GN Singh and other senior officials of UP Government.

Cabinet Minister for Urban Development and Energy, A K Sharma and Cabinet Minister for PWD Jitin Prasada invited industrialists to invest in the State while outlining the Yogi Government’s investment-friendly policies.

Minister of State Jayendra Pratap Singh Rathore said, “UP’s policy and environment are the best, so we are inviting all of you investors to benefit from the sizable market.”

Before the road show, Business to Government (B2G) meetings took place where more than 30 investors took information from the delegation about investment prospects in the State as well as the many exemptions and reliefs that are provided by the policies.

The Torrent Pharma, a well-known pharmaceutical business from Gujarat, signed the largest MoU of Rs 25,000 crore. Along with this, Amul India signed an MoU of Rs 900 crores to set up a new milk plant in Baghpat district. Whereas, 9 MoUs were of Rs 1,000 crore or more. A total of 22 MoUs amounting to Rs 38,000 crores were signed.

The investments were received in sectors including Milk Processing Units, Dairy Farm, Research and Development Lab, Training of Herdsman, Renewable Energy, Solar City, Pharma Park, Green Hydrogen, Infrastructure, Textile, Manufacturing, Pharmaceutical, Medical Device Park, Drugs, Healthcare Products, Hotel Industry, Tourism, Chemical sector, Food and Beverage industry, Sports industry, Waste management solution, Multi-specialty hospital, Hydro power plant, Petrochemical industry, Data Centre, Logistics and Warehousing, among others.