UP eyes huge investment from America in Global Investors Summit 2023
The government has sent invitations for UPGIS 2023 to a large number of US companies. Apart from this, government officials are also in constant contact with various trade organizations of America, from where encouraging responses have been received.
New Delhi: Set to become the growth engine of India’s development, the state of Uttar Pradesh through the ‘Global Investors Summit-2023’ is expected to receive huge investment from America in nine sectors including IT, Agriculture sectors, among others.
According to Invest UP, the nodal agency of GIS-2023, the state is eyeing massive investment from top American companies. The government has sent invitations for UPGIS 2023 to a large number of US companies. Apart from this, government officials are also in constant contact with various trade organizations of America, from where encouraging responses have been received.
Sectors receiving interest from America
Sectors that have received special interest from US companies include IT and electronics, agriculture and food processing, defence and aerospace, pharmaceutical and medical devices, energy, retail and automobiles.
Moreover, a large number of venture capitalists are also willing to invest in UP. The state has the maximum number of over 90 lakh MSME clusters, where continuous contact is being made at the government level with American venture capitalists to invite investment. Investment is expected to stop the migration of the youth from the state to other places in search of employment and will also aid in the startups flourishing.
Communication being established with following Companies in the IT sector
Communication is being established with companies like Apple, Microsoft Corporation, Alphabet (Google), Amazon, Meta, Visa, Intel, Cisco, Oracle and Adobe.
Agro and Food Processing Companies
These include Archer Daniels Midland (ADM), Syngenta, Bureau Veritas, Corteva Agriscience, Neutrino, Indigo and Pioneer.
Aero and Defence
These include BAE Systems, Safran SA, Raytheon, Northrop Grumman, GE Aviation, General Dynamics Corporation, Lockheed Martin Corporation, United Technology Corporation (UTC), Airbus SE andThe Boeing Company is included.
Pharma and Medical
This includes Johnson & Johnson, Pfizer Inc., Merck & Co., Abbyy Inc., Bristol Meyers Squibb, Abbott Laboratories, Amgen, Gilead Sciences, Eli Lilly & Company and Biogen.
Energy
These include Exxon Mobil Corporation, Chevron Corporation, Nextra Energy, General Electric, Conco Phillips, Dominion Energy, Duke Energy Corporation and The Southern.
Venture Capital
These include DCM Venture, Greylock Partners, Insight Venture Partners and Union Square Venture.
Retail
Walmart, Amazon, Costo Wholesale and The Home Depot.
Automobiles
General Motors, Ford Motor, BMW, Volkswagen, Tesla, Deere & Co, Pescar Inc and Nissan Motors.
Govt in communication with these business organizations
US Small Business Administration (SBA), National Women’s Business Council, SCORE Business Mentoring, Veterans Business Outreach Center (VBOC). Alos, US Chamber of Commerce Small Business Council, US Export Assistance Center, United States Minority Chamber of Commerce, Entrepreneur Organization, National Federation of Independent Business (NFIB), International Franchises Association (IFA), National Restaurant Association, National Retail Federation, American Marketing Association (AMA), United States Telecom Association.
Officers have been deployed to assist US
The Yogi government has appointed a team of officers to gather investment from American companies in Uttar Pradesh. In these, two officers above the level of Secretary, two officers from IT and Electronics and Health Department, one officer from the Planning Department, and one officer from the Industries Department have been appointed. Apart from this, one officer from the CM’s office and three officers from Invest UP have been asked to work in mission mode to finalize deals with American companies.