In a significant boost to its economic prospects, Uttar Pradesh has successfully secured investment proposals worth nearly Rs 2.92 lakh crore at the 56th World Economic Forum annual meeting held in Davos, Switzerland. Finance and Parliamentary Affairs Minister Suresh Khanna announced this remarkable achievement during a press conference at Lok Bhawan in Lucknow on Tuesday.
Strategic Meetings Yield Substantial Agreements
The Uttar Pradesh delegation conducted an impressive 119 high-level meetings with 55-56 leading global corporations during the prestigious international forum. These strategic interactions resulted in the signing of 31 memoranda of understanding across diverse sectors that are crucial for the state's economic development.
Diverse Sectoral Coverage
The MoUs span multiple industries including data centres, green energy initiatives, waste-to-energy projects, defence manufacturing, logistics infrastructure, advanced manufacturing, electric vehicles, pharmaceuticals, healthcare services, tourism development, and artificial intelligence applications. Minister Khanna emphasized that these agreements represent a significant milestone in positioning Uttar Pradesh as a premier investment destination on the global economic map.
Major Investment Highlights
The most substantial agreement was signed with Netherlands-based company AM-Green for establishing a 1-gigawatt AI-based data centre in Greater Noida. This project involves an estimated investment of Rs 2.1 lakh crore and is scheduled for completion by 2028. Additional significant agreements included a Rs 200 crore MoU with ASR Technology and productive discussions with Uber regarding expanded mobility partnerships and the potential establishment of a global capability centre within the state.
Renewable Energy Commitments
The renewable energy sector witnessed particularly strong interest with multiple high-value agreements. These included rooftop solar and battery storage projects worth Rs 1,000 crore, hybrid electric vehicle manufacturing plants valued at Rs 1,100 crore, solar manufacturing facilities with Rs 10,500 crore investment, and a comprehensive green manufacturing park featuring a 3GW solar cell module and 60MW solar plant requiring Rs 3,800 crore. The state also announced partnerships with NTPC Green Energy and REC Ltd for green hydrogen and agriculture waste-to-energy projects totaling Rs 8,000 crore.
Manufacturing and Industrial Expansion
Manufacturing received substantial attention with Rashmi Metaliks committing Rs 4,000 crore for establishing a 1MTPA integrated steel plant. The UP delegation held productive talks with several global manufacturing giants including AB InBev, Godrej, Philip Morris International, Schneider Electric, DuPont, and Ramco Group. Pilot projects were proposed for implementation in Jhansi, Lucknow, Noida, and Varanasi, including innovative solar unit testing initiatives.
Technology and Healthcare Partnerships
Discussions with prominent global technology firms such as Google, Tech Mahindra, Cisco, Deloitte, and Google Cloud focused on artificial intelligence applications, data centre development, digital governance solutions, skill enhancement programs, and advanced mobility solutions. Healthcare and pharmaceutical companies including Bayer Consumer Health and AGLT Technologies explored opportunities in agro-processing, diagnostic services, research facilities, and life sciences development within the state.
Governance and Infrastructure Boost Confidence
Minister Khanna highlighted that Chief Minister Yogi Adityanath's effective governance, strengthened law-and-order measures, and substantial infrastructure development have significantly enhanced investor confidence in Uttar Pradesh. These factors played a crucial role in attracting substantial international investment commitments during the Davos summit.
Prominent Presence at Global Forum
The Uttar Pradesh pavilion, operating as part of the India Pavilion under the 'Partner with India' theme, remained a major attraction for international investors throughout the four-day event. The World Economic Forum meeting saw participation from over 3,000 global leaders representing 130 countries, including more than 60 heads of state. The UP delegation was led by Industrial Development Commissioner Deepak Kumar, CEO Invest UP Vijay Kiran Anand, and NEDA director Indrajeet Singh, who collectively showcased the state's investment potential to the global business community.
