Uttar Pradesh will reschedule its annual ‘global investors summit’ to avoid a clash with a defence infrastructure event, seeking global companies to make the state a $ trillion economy..
The global summit was tentatively fixed for February 2020, however, the state government decided to postpone it after the Centre mandated UP to host 11th Defence Expo 2020 in Lucknow from 5-8 February, 2020.
“Since, the Defence Expo is also a big show, we decided to postpone our Summit to October-November 2020,” UP industrial development minister Satish Mahana told Business Standard here today.
In run up to the global Summit, the state government will organise roadshows in major industrialised nations, such as USA, the UK, Russia, UAE, the Netherlands, China, Canada, France etc, to invite local industrialists and investors.
Recently, chief minister Yogi Adityanath had chaired a meeting of concerned ministers and top officials regarding the proposed Summit, which would be a follow up to the mega ‘UP Investors Summit’ organised on 21-22 February 2018. The summit fetched the state investment proposals worth Rs 4.68 trillion.
It was inaugurated by Prime Minister Narendra Modi in the presence of top industrialists, including Mukesh Ambani, Gautam Adani, Kumar Mangalam Birla, N Chandrasekaran, Subhash Chandra, G M Rao, Shiv Nadar etc. The state had also received delegates from Mauritius, Japan, the Netherlands, Finland, Czech Republic, Thailand and Slovakia at the event.
According to sources, the state government is eyeing to garner investment proposals to the tune of Rs 10 trillion at the 2020 Summit. “We would obviously be looking at attracting maximum participation of investors and industries at our global Summit,” the minster added.