UP govt receives ₹20,300 crore of FDI proposals amid investor push

Making a strong pitch for global investors, Uttar Pradesh has received investment proposals worth more than ₹20,300 crore under the Foreign Direct Investment (FDI) and Foreign Capital Investment (FCI) route.

 

These proposals have flowed in under the “Uttar Pradesh FDI/FCI, Fortune Global 500, and Fortune India 500 Company Investment Promotion Policy 2023”, the government said.

 

Of the 21 FDI/FCI proposals received so far, 13 proposals of ₹12,500 crore have been approved and issued with the Letter of Comfort (LoC) by the state government, a senior official said.

 

The remaining 8 proposals worth ₹7,800 crore are pending for approval by “Invest UP” - the state government's agency for facilitating investments, according to the official, who requested anonymity.

 

LoC is the government’s undertaking/guarantee to investors about providing financial sops and incentives upon fulfilling investment conditions.

 

Earlier, Chief Minister Yogi Adityanath had directed officials to keep close communication with investors so that proposals meet their timelines.

 

In recent years, Invest UP has sped up the process of issuing the LoCs to both domestic and global investors. “The pace of industrial development can be gauged by the fact that in the last three years, 137 major investment proposals totalling ₹2.37 trillion have been processed,” an Invest UP official said.

 

In the financial year 2023-24, 10 investment proposals worth ₹4,380 crore were resolved.

 

In 2024-25, this number increased to 45, including investments of ₹43,099 crore, an almost tenfold increase in investment.

 

In the FY26 so far, 42 proposals worth ₹75,873 crore have been resolved. Additionally, 40 more investment proposals worth ₹1.14 trillion are pending with the high-level committee for approval.

 

Upping the ante, Invest UP is taking investments to the ground level and creating fresh job opportunities with a view to making the state a $1 trillion economy by 2030.

 

Meanwhile, under the state’s Industrial Investment and Employment Promotion Policy 2022, 85 proposals worth ₹1.11 trillion have been approved, while 30 proposals worth ₹1.10 trillion are in the pipeline.

 

In terms of regional distribution, the Western region leads with 32 per cent of approved proposals, while Ghaziabad and Gautam Buddha Nagar districts account for 29 per cent of the investment. This is followed by the Eastern region at 23 per cent and the Central region at 15 per cent, indicating balanced regional industrial development.