UP exceeds set target, attracts investment proposals worth Rs 21 lakh cr

Lucknow, Feb 4 (KNN) Ahead of the Global Investors’ Summit-2023 (UPGIS-2023), Uttar Pradesh has received investment proposals worth Rs 21 lakh crore.

Following investment-friendly environment that had been created in the state, Uttar Pradesh has successfully achieved its target mark of Rs 17.3 lakh crore, the government informed on Friday.

UPGIS-2023 is scheduled in Lucknow from February 10-12, 2023.

According to a press release, the manufacturing sector with close to 56 per cent of the total investment proposals stands first.

“Various domestic and foreign companies are planning to expand or set up their businesses in Uttar Pradesh, keeping in view the ‘ease of doing business’ as well as the ‘ease of starting business’ in the state,” it said.

The agriculture sector is at second place with 15 per cent of the total investment proposals while infrastructure remains at third place with 8 per cent investment proposals. 

Textile sector with 7 percent remains at fourth place while tourism comes fifth with 5 percent of total investment proposals. The investment proposals have been received in sectors like education, IT and electronics, healthcare, warehousing and logistics, renewable energy and pharmaceuticals and medical devices.

The state government’s policies, including the industrial development and MSME policies providing relief to the manufacturing sector, have contributed o attracting the investors. 

The state government has worked out 25 sectoral polices ahead of the UPGIS-2023.  (KNN Bureau)