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The state of Uttar Pradesh through the 'Global Investors Summit-2023' is expected to receive huge investment from the US, particularly in nine sectors including IT, agriculture sectors, electronics, food processing, defence and aerospace, pharmaceutical and medical devices, energy, retail and automobiles.
According to Invest UP, the nodal agency of GIS-2023, the state is eyeing massive investment from top US companies. The government has sent invitations for UPGIS 2023 to a large number of US companies. Apart from this, government officials are also in constant contact with various trade organizations in the US, from where encouraging responses have been received, an official statement said on Saturday. Moreover, a large number of venture capitalists are also willing to invest in UP. The state has the maximum number of over 90 lakh MSME clusters, where continuous contact is being made at the government level with American venture capitalists to invite investment. Investment is expected to stop the migration of the youth from the state to other places in search of employment and will also aid in the startups flourishing. Among IT companies, Apple, Microsoft Corporation, Alphabet (Google), Amazon, Meta, Visa, Intel, Cisco, Oracle and Adobe are being contacted, the statement said. In agro and food processing space, Archer Daniels Midland (ADM), Syngenta, Bureau Veritas, Corteva Agriscience, Neutrino, Indigo and Pioneer were contacted. In Aero and Defence, they include BAE Systems, Safran SA, Raytheon, Northrop Grumman, GE Aviation, General Dynamics Corporation, Lockheed Martin Corporation, United Technology Corporation (UTC), Airbus SE and The Boeing Company, it said. Further, Johnson & Johnson, Pfizer Inc., Merck & Co., Abbyy Inc., Bristol Meyers Squibb, Abbott Laboratories, Amgen, Gilead Sciences, Eli Lilly & Company and Biogen are some in the pharma sector. In energy space, they are Exxon Mobil Corporation, Chevron Corporation, Nextra Energy, General Electric, Conco Phillips, Dominion Energy, Duke Energy Corporation and The Southern. Venture Capital: These include DCM Venture, Greylock Partners, Insight Venture Partners and Union Square Venture. Retail: Walmart, Amazon, Costo Wholesale and The Home Depot. Automobiles: General Motors, Ford Motor, BMW, Volkswagen, Tesla, Deere & Co, Pescar Inc and Nissan Motors. US Small Business Administration (SBA), National Women's Business Council, SCORE Business Mentoring, Veterans Business Outreach Center (VBOC). Alos, US Chamber of Commerce Small Business Council, US Export Assistance Center, United States Minority Chamber of Commerce, Entrepreneur Organization, National Federation of Independent Business (NFIB), International Franchises Association (IFA), National Restaurant Association, National Retail Federation, American Marketing Association (AMA), United States Telecom Association are some of the organizations the UP government is in talks with. Notably, the Uttar Pradesh government has appointed a team of officers to gather investment from American companies in Uttar Pradesh. Two officers above the level of Secretary, two officers from IT and Electronics and Health Department, one officer from the Planning Department, and one officer from the Industries Department have been appointed. Apart from this, one officer from the CM's office and three officers from Invest UP have been asked to work in mission mode to finalize deals with American companies. To make Uttar Pradesh the growth engine of India's development, Chief Minister Yogi Adityanath has requested investors from all over the world to invest in his state. He made this request just ahead of the Uttar Pradesh Global Investors Summit-2023 while speaking at a large event held on Tuesday at Sushma Swaraj Pravasi Bhartiya Bhavan here in the national capital. The meeting, a curtain raiser to the Summit, was attended by eminent personalities from the national and international industries, representatives of industrial associations, and representatives of several public sector companies. Uttar Pradesh will organize the Summit in Lucknow from February 10 to 12, 2023, CM had said. (ANI)
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