Global Investors Summit 2023: UP Attracts Investment Worth Over Rs 1 Lakh Crore On Day 1

The first day of Uttar Pradesh's Global Investors Summit 2023 saw some major announcements from leading industrialists.

The summit, which was inaugurated by Prime Minister Narendra Modi, was aimed at bringing together policy makers, industry leaders, and investors from across the world to explore business opportunities and forge partnerships.

One of the key announcements came from Reliance Industries chairman Mukesh Ambani, who announced that the company would be investing Rs 75,000 crore in the state over the next four years.

The investment will be used for rolling out 5G mobile telephony services, expanding the retail network, and setting up renewable energy capacity.

Ambani stated that the group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months, creating an additional 1 lakh jobs.

Aditya Birla Group chairman Kumar Mangalam Birla announced that the group will invest Rs 25,000 crore across various businesses, including cement, metals, chemicals, financial services, and renewable energy in the state.

Furthermore, Tata Sons chairman N Chandrasekaran announced that Air India SATS, a group firm, will partner with Zurich Airport to set up a multi-modal cargo hub at the Jewar airport.

Combined with Reliance Industries Ltd's previously announced investment of Rs 75,000 crore, the total investment committed to Uttar Pradesh exceeds Rs 1 lakh crore.

In his address, Kumar Mangalam Birla said, "UP has gone through a metamorphosis in the last few years under the guidance of PM Narendra Modi and leadership of CM Yogi Adityanath".

During the course of the three-day event, a total of 34 sessions would be held.

To make the summit a success, ministers of the UP cabinet conducted roadshows in 21 cities across 16 countries. The cooperation of ambassadors was also sought to create buzz about the Summit.

On the eve of the summit, the CM and the Union Defence Minister, Rajnath Singh, jointly unveiled projects worth Rs 159 crore.

It included a12-foot statue of Laxman, an elevated flyover from Shaheed Path to the airport in Lucknow, the Lucknow Mahanagar overbridge, the beautification of G-20 and GIS-related development projects, the Nagram rail overbridge, the Kargil Vijay Memorial, the lighting of the facade at Shaheed Path among others.

(With inputs from PTI)