After inviting Indian business to the Uttar Pradesh Global Investors Summit in the financial hub of Mumbai, Chief Minister Yogi Adityanath returned to Uttar Pradesh with investment offers apparently totalling more than Rs 5 lakh crore.
During the Chief Minister’s two-day visit to Mumbai, industrialists from significant groups like Reliance, Tata Sons, Adani, Godrej, Birla, Piramal, Vedanta, Parle, Hinduja, Lodha, and Ramki met with him where he urged them to support Prime Minister Narendra Modi’s $5 trillion goal.
CSR of Piramal
Ajay Piramal of Piramal Enterprises said (as part of their Corporate Social Responsibility CSR initiative) that he would launch a unique campaign in Varanasi by supporting the Prime Minister’s determination for a TB-free India and indicated his interest in creating a Pharma Park.
Investment in Electric Vehicle (EV) and flight services
N Chandrasekaran, the chairman of Tata Sons, has expressed interest in expanding the spiritual circuit in Uttar Pradesh by establishing Air India airline service at all of the state’s airports and also by developing hotels. The executive chairman of the prestigious conglomerate in the nation also discussed the company’s investment ambitions in the fields of power, hydrogen, electric vehicles (EV), food processing, and semiconductors.
JSW Group MD Sajjan Jindal talked about establishing a modern Pumped Storage Plant for power generation at Sonbhadra, an EV manufacturing facility at Kanpur, and a new paint facility. Jindal additionally declared his willingness to help build a temple and Naimishdham in Kanpur.
According to Vedanta Resources CEO Anil Agarwal, his company is prepared to relocate a sizable R&D project in the electronics and EV industries to Noida. In addition, there are plans to build a glass manufacturing facility in Gorakhpur for smartphones and tablets, which would require collaboration with other businesses to create an eco-system.
Investment in green energy
Mukesh Ambani, the CEO of Reliance Industries, has suggested significant investments in the green energy and electronics manufacturing industries, as well as bringing 5G internet connectivity to all of Uttar Pradesh and better health services to rural areas in the state using artificial intelligence.
Satellite cities and waste management
In the same vein as its Pharma Park in Hyderabad, Ramky Group is eager to establish a private Pharma Park in Uttar Pradesh. In addition, it has proposed plans for STPs and solid waste management facilities. The group’s founder, Rami Reddy, also asked the CM for help in creating a satellite city between Kanpur and Lucknow.
Investment in solar energy
The government’s assistance was sought by Kumar Mangalam Birla, the chairman of the Aditya Birla Group, in order to build a convention centre in Noida. The Chief Minister was also given access to an action plan by Birla Group for investments in the solar energy industry, data centres, warehousing, and food processing.
Hospital, medical college and ammunition hub
Kokilaben Dhirubhai Ambani Hospital’s Dr. Tushar Motiwala discussed his vision for the Hub and Spoke-based Kokilaben Dhirubhai Hospital that will be located in Kanpur.
Adani Group has expressed interest in establishing medical colleges on a PPP model in Ballia and Shravasti as well as a skill development centre in Noida with a capacity for 10,000 young people. Additionally, Karan Adani of the Adani Group talked about their ambitions to expand the Lucknow airport as well as the construction of cement plants in seven different locations. Additionally, they want to construct a hub for ammunition in the UP Defence Corridor.
Investment in real estate
Godrej Group has planned to open a new factory in Barabanki shortly and take part in the construction of a new city. The company already has four units in UP. In the following five years, Godrej Property will invest Rs 20,000 crore.
With an investment of Rs 3000 crores, The House of Abhinandan Lodha will deliver housing projects to Ayodhya, Varanasi, and Gorakhpur.
Other investments
While signing memorandums of understanding for new projects, Darshan Hiranandani, the head of the Hiranandani Group, talked about ambitions for semiconductor investment in partnership with overseas partners.
The current initiative of Torrent Power, which distributes gas in 16 districts, has generated 5000 jobs, with 90% of the rewards going to the local youth, according to Jinal Mehta. He also discussed recent investments that have been made in the state. According to Parle-Agro, 500 crore in suggested investments have primarily been made in the dairy industry.
The Global Investors Summit, which is slated to take place from February 10 to 12, is when the agreements are anticipated to be formally formalised.
