UP govt woos diaspora to expand pool of investment beyond big firms

To expand the pool of investment beyond big firms and consortiums, the Uttar Pradesh (UP) government is wooing the diaspora of UP-origin non-resident Indians (NRIs).

The state is reaching out to its NRIs to contribute towards its socioeconomic development by making investments in different sectors, especially infrastructure.
 

UP Chief Minister (CM) Yogi Adityanath underlined that such projects would not only strengthen their roots in the native land but would also contribute towards its progress.
 

Over the past few years, UP has been cultivating an emotional connect with its diaspora settled in countries including the USA, UAE, Oman, Singapore, Australia, Germany, New Zealand, Russia, England, etc.
 

Adityanath recently unveiled the Matrubhumi scheme, which allows people from the state settled abroad to contribute towards infrastructure development.
 

An official privy to the development said the government would provide land as well as 40 per cent of the project cost, while the 

NRIs would incur the remaining cost.
 

At the launch of this scheme, the CM interacted with some NRIs settled in the US and willing to invest in UP’s social sector. 
 

At the UP Global Investors Summit 2023, the government had garnered public and private sector investment proposals totalling Rs. 35 trillion across different sectors. The state is gearing up to launch projects worth almost Rs. 10 trillion in the next few months to kickstart the process of faster economic development and make UP India’s first $trillion economy.