The government of Uttar Pradesh (UP) is stepping up efforts to send high level teams to nearly 20 or more countries to organize international tours ahead of the planned Global Investor Summit 2023 (GIS-23).
The UP government hopes to attract investment from ₹10 lakh crore at GIS-23 to be held in Lucknow in January 2023.
“Yes, we will send five to six teams to organize road shows in 20 or more countries. In addition to Chief Minister Yogi Adityanath, Deputy Chief Ministers Keshav Prasad Maurya and Brajesh Pathak and Ministers will lead the teams to be dispatched by October-November 2022. We will soon be developing itineraries for the teams and Ministers to lead from different departments will visit the countries of where possible, investments can be made in the sector related to their departments,” said Arvind Kumar, Commissioner for Infrastructure and Industrial Development (IIDC), Uttar Pradesh.
Kumar did not share the list of possible destinations to attract investment for the state government teams.
“At this stage, we cannot share the list of countries to visit as new destinations may be added and those currently on the list may be removed from the same in the coming weeks,” he said. .
“We are also liaising with different embassies/high commissions as the need arises,” he added.
Those familiar with the developments in the infrastructure and industrial development department have said roadshows are likely to be held in the US, UK, Canada, Singapore, UAE, Sweden, in the Netherlands, Israel, France, Germany, South Korea, Mauritius, Russia and Australia. . There are indications that advance teams of civil servants and industry representatives could be sent to prepare for visits by high-level teams of ministers. The state government is also offering to organize roadshows in major cities of India.
The Chief Minister has instructed officers from the Department of Infrastructure and Industrial Development to finalize the list of partner countries for SIG-23. Singapore has offered to be the summit’s first partner country. The Netherlands, Japan, Slovakia, Finland, Czech Republic, Mauritius, Thailand, Nepal and Belgium were the partner countries of the 2018 UP Investor Summit. The state government is also reaching out to themselves and with other potential partner countries.
“Yes, Uttar Pradesh Investors Summit-2018 had seven participating countries. Singapore has already offered to be a partner country for Global Investors Summit-23. We may have more partner countries this time,” said said Kumar.
The Uttar Pradesh Investors Summit-2018 was organized in Lucknow in February 2018. It had received proposals for ₹Investment of 4.68 lakh crore. The state government claims to have implemented investment proposals of ₹3 lakh crore so far. It has implemented investment proposals worth ₹80,000 crore at the third groundbreaking ceremony held in Lucknow in June 2022. He also appointed a consultant to make the state a trillion dollar economy in the next five years.
One expert, Professor Yashvir Tyagi, former head of the economics department at Lucknow University, said: “To achieve the goal of a trillion dollar economy over the next five years, the UP needs a big boost to invest in the state. Given the specter of recession in the United States and many other countries, potential investors are looking for profitable avenues and UP may prove to be an attractive destination for foreign direct investment. This way, it would be a win-win situation for investors and the state.