U.P. getting ready to hold global investors’ summit in two years

Chief minister Yogi Adityanath had given directives for holding the summit to attract large-scale investment while viewing presentations of 11 departments of infrastructure and industrial development sector on April 15 this year

The Uttar Pradesh government has begun preparations for hosting a global investors’ summit in the next two years to attract an investment of 10 lakh crore in the state.

Chief minister Yogi Adityanath had given directives for holding the summit to attract large-scale investment while viewing presentations of 11 departments of infrastructure and industrial development sector here on April 15, 2022.

“Yes, the state government proposes to hold a global investors’ summit in next two years to attract investment of 10 lakh crore and preparations for the same have already begun,” an official spokesman said.

The state government also proposes to hold national and international road shows and more such ground-breaking ceremonies in the next five years in the state to boost size of gross state domestic product (GSDP) and achieve the objective of making the state a trillion-dollar economy.

The state government is in the process of appointing a consultant to work out a roadmap to boost the GSDP to one trillion dollars. The state government is likely to work out a new industrial policy and may update various other policies that include electric vehicle, warehousing logistics and defence and aerospace policies.

An improvement may be needed in the state’s startup policy, electronics manufacturing policy and the data centre policy. An official spokesman said the department of industries has received investment proposals worth 20,559 crore from 10 countries including Singapore, the US, Japan, the UK, Canada, Germany and South Korea to invest in Uttar Pradesh.

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