NRIs invest heavily in UP, government says
The government of Uttar Pradesh has said that in addition to multinational companies, Non-Resident Indians (NRIs) are ready to set up their industrial units statewide.
More than 50 NRIs have taken the initiative to establish industries in the state, 32 of which are in contact with the state government to invest around Rs 1,045 crore in Noida-Greater Noida, Lucknow, Kanpur, Gorakhpur and Prayagraj. These NRIs have expressed interest in investing in 15 sectors, including agriculture, health, IT, manufacturing and solar power.
UP has become a popular destination for NRIs as well as for foreign investors. Interest from NRI investors has increased over the past two years, following the launch of the website by Chief Minister Yogi Adityanath last year. The NRI section of the website was reviewed by over 500 non-resident Indians for investing in UP, while NRI cards were issued to 540 of them.
It is the result of Yogi government activism that 32 NRIs staying in 18 countries including United States, United Arab Emirates, Oman, Singapore, Australia, Germany, Ghana, New Zealand , Russia, England, etc., have sent their proposals to the state government. to invest in the UP.
Officials said four Indians based in the United States as well as eight residing in the United Arab Emirates and two Indians each living in Oman, Singapore and England have sent their proposals to the government to invest in UP.
No less than 13 of these NRI investors already have businesses in their country of residence and now wish to extend it to UP as well. In addition, 19 Indians holding positions of responsibility in large companies abroad are now moving to set up their companies in UP.
The state government, for its part, is making concrete efforts to accelerate the provision of land to these potential investors. He is also in constant contact with the NRIs to help them set up their business. Once operational, these NRI companies will provide jobs for thousands of people across the state.
Officials further said that seven NRIs have expressed willingness to start their businesses in agriculture, four each in healthcare and manufacturing, three each in IT, energy and solar power and two each in education and food processing. Some NRIs in the UAE have offered to build a large hospital at an estimated cost of Rs 400 crore in Uttar Pradesh.
Likewise, Russia-based Dr S Singh will invest Rs 300 crore in a renewable energy project. NRIs residing in Kuwait have offered to invest Rs 100 crore in the automotive sector while NRIs in Ghana and New Zealand have made investment proposals worth Rs 150 crore in the agricultural sector. The chief minister asked officials to contact these volunteer NRIs and speed up procedures to help their projects get started as soon as possible.