Uttar Pradesh govt seeks ₹10 trillion in investment to boost industry

The Uttar Pradesh government is planning to line up projects worth ₹10 trillion in November this year, in a bid to boost its industrial development agenda. 

 

Invest UP, the state’s investment promotion agency, has already lined up projects worth ₹5 trillion for the proposed ground breaking ceremony (GBC 5.0), and is hopeful that the basket will increase to ₹10 trillion by November. In the run up to the event, the agency will also host roadshows in countries like South Korea, Qatar, China, Singapore, Canada, and UAE. 

The state’s industrial development minister Nand Gopal Gupta has asked officials to focus on making UP a $1 trillion economy in the next few years. “Since 2017 (when the Yogi Adityanath government came to power), UP has become the growth engine of India,” he said. 

According to sources, more than 83,630 projects worth ₹4.33 trillion have attained the commercial operations stage in UP so far. Meanwhile, 8,110 other projects worth ₹7.75 trillion are under different stages of implementation. 

 

Additionally, Invest UP Chief Executive Officer (CEO) Vijay Kiran Anand said 62 companies with total investment proposals of ₹2 trillion were issued letters of comfort, which provide a written undertaking that an obligation will be met. The state is aiming to issue these letters to 10 companies every month. 

 

Moreover, Invest UP is also working on leads to attract overseas investment, and is looking at over 300 companies with operations in China. Due to geopolitical uncertainties and US tariff policies, these firms are exploring the possibility of shifting their production bases from China to India, and UP is among the potential destinations within the country. 

 

Invest UP will also be pursuing over 800 companies from the Fortune 500 India and Fortune Next 500 India lists for investment opportunities. 

 

At the UP Global Investors Summit (GIS) 2023, the state government had received investment proposals worth around ₹40 trillion, out of which projects worth ₹10 trillion were launched at the GBC 4.0 by Prime Minister Narendra Modi in February 2024. 

 

The state is also planning on hosting a UP GIS 2.0 in early 2026.