Benjamin Netanyahu's Agra visit to bolster UP's defence manufacturing pitch

Uttar Pradesh to showcase defence manufacturing sector at 'UP Investors' Summit 2018'

The visit of Israeli Prime Minister Benjamin Netanyahu to Taj Mahal in Agra on Tuesday and the formal welcome by Uttar Pradesh Chief Minister Yogi Adityanath come in the backdrop of the state gearing up to hold ‘UP Investors’ Summit 2018’ next month and to showcase defence manufacturing as a key investment sector.

The Adityanath government is confident that the high-profile visit to Agra would not only boost the state tourism sector but generate positivity around the high-ticket summit scheduled for February 21-22, 2018.

“The visit of the Israeli PM would definitely boost trade and cultural ties with India and we are looking forward to forging business ties with its business and investor community,” UP industries minister Satish Mahana told Business Standard.

He maintained the visit, especially in the run-up to the investment event would certainly boost the business prospects of the event and garner global branding for the summit and the state.

Mahana said Prime Minister Narendra Modi had taken lead in improving India’s relations with other countries and boosting trade ties. 

Meanwhile, an industry source said there had been considerable interest among the Israeli investor community in the forthcoming summit, which would be inaugurated by Modi. UP is hoping to generate private investment proposals of almost Rs 5 trillion in the two-day event.

Besides, top industrial nations viz. the United States, the United Kingdom, Netherlands, France, Germany, Japan, Taiwan and South Korea would be roped in as ‘partner countries’ for the summit.

On May 16, 2017, an Israeli delegation led by Ambassador Daniel Carmon had met Adityanath in Lucknow. UP is keen on employing Israeli expertise in power, horticulture, irrigation, science and technology, agriculture and smart city projects.

Israel has mastered optimum agricultural productivity in arid acreage, scarce irrigation and low fertility of soil. Adityanath had directed officials to constitute a coordination committee and said efforts be made to forge better ties with Israel in the field of agriculture, trade and cultural affairs.

UP has organised investment roadshows at five Indian metropolises of New Delhi, Bengaluru, Hyderabad, Mumbai and Kolkata, where the government claimed to have garnered aggregate private investment proposals worth Rs 2.85 trillion. The last road show is slotted for Ahmedabad on January 18.

Yesterday, UP minister of state for NRI affairs Swati Singh reviewed the preparations for the NRI session ‘Pravasi Diwas’ to be held as part of the summit. Top industrialists, including Ratan Tata, Mukesh Ambani and Kumar Mangalam Birla have called upon Yogi and discussed prospective investments in UP.