In a decisive move to cement Uttar Pradesh's position as a premier investment destination, Chief Minister Yogi Adityanath has issued a clear directive to state officials: remove all bottlenecks and accelerate every process for investors. Chairing a high-level review of the state's Foreign Direct Investment (FDI) outreach in Lucknow on Friday, the CM outlined a vision defined by speed, stability, and support for the business community.
Core Mantra: Speed, Stability, and Support
The Chief Minister instructed all concerned departments to maintain continuous communication with companies and ensure that no project file gets held up at any administrative level. He emphasized a sharper focus on quick clearances and deeper engagement with international firms. To institutionalize this, Invest UP, the state's nodal investment agency, has been tasked with providing fast-track, hand-holding services for each investor and pushing ahead with strict time-bound delivery of critical infrastructure.
A key pillar of this strategy is the plug-and-play model. "Providing ready-to-use infrastructure from Day 1 would enable investors to begin operations immediately," CM Yogi stated, asserting that this approach would give Uttar Pradesh a significant competitive edge over other states vying for capital.
Tracking the FDI Inflow: Numbers and Proposals
Officials from the industry department presented a robust picture of the state's FDI trajectory. They apprised the CM that Uttar Pradesh has attracted $683 million in foreign investment in the current financial year up to September. More significantly, the cumulative FDI inflow since October 2019 has now crossed the $2 billion mark.
Under the state's FDI-FCI-Fortune 500 Policy 2023, the pipeline looks promising. Officials reported that 11 companies have already submitted proposals worth Rs 13,610 crore under this policy. An additional 22 proposals totalling Rs 17,819 crore were received through different channels. Furthermore, 29 proposals worth a massive Rs 50,000 crore are currently under active consideration by the state government.
Global Outreach and Sectoral Focus
Confidence among global investors is strengthening, officials claimed, pointing to the proactive work of country-specific desks established by Invest UP. Desks for Japan, South Korea, Taiwan, Germany, France, Singapore, and Gulf nations have conducted over 100 one-on-one meetings with companies this year alone. Partnerships with bodies like the Japan Business Organization and the Singapore International Chamber of Commerce are now being translated into concrete investment proposals.
The Gulf Cooperation Council (GCC) Desk has been particularly active, holding six roundtable meetings in Delhi, Noida, Mumbai, Lucknow, and Kanpur. These interactions with 83 companies have already generated investment proposals worth nearly Rs 5,000 crore. Similarly, the Taiwan desk has identified over 40 Taiwanese companies with a potential investment pipeline of Rs 100 crore.
While IT, electronics, and manufacturing remain top draws, sectors like pharmaceuticals, life sciences, media, finance, and insurance are emerging as high-growth segments. The state is actively developing Noida, Greater Noida, and the Yamuna Expressway region as electronics and semiconductor hubs, a move reinforced by the major HCL-Foxconn investment of Rs 3,700 crore. A proposal to develop Kanpur as a centre for technical textiles and sportswear was also presented.
Infrastructure and Regional Development Push
The CM also reviewed progress on specific projects like the Lalitpur Pharma Park, directing officials to speed up work and ensure the timely availability of land, electricity, and water. He stressed the need for regular engagement with companies evaluating the site.
For the National Capital Region (NCR), he suggested encouraging companies to set up their corporate offices and headquarters. To ensure smooth operations in other regions, he directed that the Bundelkhand Industrial Development Authority (BIDA) be provided with adequate human resources. The overarching message from the review was unambiguous: Uttar Pradesh is open for business and is building an ecosystem where projects can take off at record speed.
