UP Investors Summit 2023: Yogi Government Signs 19 MoUs Worth Rs. 25,000 Crore During A Roadshow In Hyderabad

20 Jan 2023
5 min read

News Synopsis

In Hyderabad on Wednesday, the Uttar Pradesh government held its fifth domestic roadshow as a part of its ambitious Global Investors Summit, 2023. The roadshow was a huge success because the state government signed 19 deals totaling 25,000 crores in the city.

The roadshow was a part of the 2023 Global Investors Summit, which will take place in Lucknow in February.

On Wednesday, Team Yogi held its fifth domestic roadshow in Hyderabad, the capital of Telangana, under the supervision of Deputy Chief Minister Brajesh Pathak. Major Memorandums of Understanding (MoUs) worth Rs. 25,000 crore were signed during the roadshow.

Throughout the day, business-to-government (B2G) talks were held, and more than 20 investors from Hyderabad met with a delegation from the UP government to discuss investment opportunities in the state as well as the reliefs and exemptions provided by CM Yogi's new policies.

Yogi Adityanath, the chief minister, has continued his attempts to entice investors for the Global Investors Summit, 2023, which will be hosted in Lucknow next month, by organising a number of roadshows in various locations.

According to a press release, "The 19 projects will create employment opportunities, directly or indirectly, for 32,000 youths of Uttar Pradesh,"

According to the statement, a number of other investors indicated an interest in investing thousands of crores in Uttar Pradesh.

When the investor participates in the GIS 2023, the MoU will be transformed into investments, and additional formalities will be completed. Cabinet Minister Baby Rani Maurya, Ministers of State Arun Kumar Saxena and Dayashankar Mishra, and Chief Minister GN Singh's advisor made up the Yogi team that was in charge of the campaigns.

"UP has an old relationship with Hyderabad. In 1916, Nizam had given one lakh rupees for the establishment of BHU. That's why we have come here to maintain this relationship with both the states and invite investors. The response received here was encouraging. While Telangana has developed a lot in the industrial sector, UP is also going through a phase of change. The reforms and changes that have taken place in UP are safe and promising for investors. We welcome investors from Telangana to UP," Deputy CM Brajesh Pathak stated.

According to a press release, Megha Engineering and Infrastructure Ltd. signed the highest contract at Rs 15,500 crore in 4 categories, out of 19 MoUs, 12 were worth Rs 100 crore or more and 6 were worth Rs 1000 crore or more.

10,000 crore rupees will be the first investment made in infrastructure, and 2,000 crore rupees would be used to build a full-fledged Pharma City. In order to create medical equipment, the corporation would invest Rs 1500 crore in medical infrastructure, and Rs 2000 crore in the production of electric vehicles.

More than 10,000 direct and indirect job possibilities will be created in the state as a result of the investment, according to estimates.


TWN In-Focus