Uttar Pradesh Secures Massive Rs 3 Lakh Crore Investment Commitments at Davos WEF Summit
The Uttar Pradesh government has achieved a significant milestone by securing proposed investments worth approximately Rs 3 lakh crore during the World Economic Forum annual meeting held in Davos, Switzerland. State Finance Minister Suresh Kumar Khanna made this announcement on Tuesday, highlighting the state's successful participation in the global economic gathering.
Extensive Investor Engagement Yields Substantial Results
During the briefing to reporters about Uttar Pradesh's participation in the WEF annual meeting from January 19 to 22, Khanna revealed that the state delegation conducted an impressive 119 meetings with global investors. These interactions included detailed discussions with 55 to 56 multinational corporations, ultimately resulting in memoranda of understanding valued at Rs 3 lakh crore across multiple economic sectors.
"This represents a major achievement for Uttar Pradesh and clearly demonstrates the confidence that global investors have developed in our state's economic potential," emphasized Finance Minister Khanna during the press conference.
Record-Breaking MoU with Netherlands-Based AM Green
The most substantial agreement signed during the Davos summit involved Netherlands-based AM Green, which committed to an artificial intelligence-based one-gigawatt data transfer project. This landmark MoU carries an estimated investment of around USD 25 billion, making it the single largest investment commitment secured by Uttar Pradesh at the World Economic Forum meeting.
"This particular agreement stands as the biggest MoU signed by Uttar Pradesh during our Davos participation," Khanna confirmed, underscoring the significance of this technological investment for the state's digital infrastructure development.
Diversified Sectoral Investments Across Key Industries
The investment agreements spanned numerous critical sectors, demonstrating Uttar Pradesh's broad economic appeal:
- Data centers and digital infrastructure
- Renewable energy and green hydrogen initiatives
- Defense manufacturing and technology
- Tourism infrastructure development
- Food processing facilities
- Logistics and warehousing networks
- Electric vehicle manufacturing
- Pharmaceuticals and healthcare manufacturing
Positive International Reception and Contributing Factors
Khanna reported that Uttar Pradesh's presentation at Davos received an extremely positive response, with continuous crowds at the state's exhibition pavilion indicating strong investor interest. The finance minister attributed this enthusiastic reception to several key factors that have enhanced Uttar Pradesh's investment attractiveness:
- Significant improvements in air, road, and rail connectivity infrastructure
- Enhanced overall infrastructure development across the state
- The "clean, personal image" of Chief Minister Yogi Adityanath
- Strategic guidance from Prime Minister Narendra Modi's administration
"International investors select destinations based on available facilities and overall competitiveness, and Uttar Pradesh has emerged strongly on these crucial parameters," Khanna explained, highlighting the state's improved positioning in the global investment landscape.
Global Participation and Delegation Composition
The investment discussions attracted companies from multiple countries, including the United States, United Kingdom, Sweden, Australia, and Singapore, reflecting Uttar Pradesh's growing international appeal. The state delegation that represented Uttar Pradesh at Davos comprised key officials:
- Finance Secretary Deepak Kumar
- Chief Minister's Secretary Amit Singh
- Invest UP CEO Vijay Kiran Anand
- NEDA Director Indrajeet Singh
Khanna expressed optimism about future investment prospects, noting that additional investment proposals are expected to materialize "sooner or later" following the successful Davos engagements. This marked the third consecutive year that Uttar Pradesh has participated in the World Economic Forum annual meeting in Switzerland, indicating the state's consistent commitment to attracting global investment and fostering international economic partnerships.
