UP pitches investor-friendly policy regime to global investors
State inks INR 500 Crore MoU with Sharaf Group as it concludes UP Week at India Pavilion
December 24, 2021, DUBAI: Shri Satish Mahana, Minister for Industrial Development, Government of Uttar Pradesh (UP) invited global investors to take advantage of the state’s vibrant policy-based governance approach and various land reforms that support investor needs. The Minister was virtually speaking at the closing ceremony of the Uttar Pradesh Week at the India Pavilion in EXPO2020 Dubai on Thursday evening.
Highlighting the state’s performance on business indicators, Shri Mahana said, “UP jumped 12 positions to be 2nd in India on ‘Ease of Doing Business’ ranking and has jumped 7 positions to rank 6th in India on ‘Logistics Ease Across Different States’ survey. The State Government has introduced more than 21 policies and various land reforms to support investor needs.”
The Minister further said, “Uttar Pradesh has witnessed a high MoU conversion rate in India. MoUs worth INR 1.78 lakh crores out of the signed MoUs worth INR 4.28 lakh crores at the UP Investors Summit held in 2018 are under various stages of implementation. The State generated fresh leads worth around INR 66,000 crores at dedicated helpdesk set up post Covid19 in April 2020. On the international front, the State’s exports registered a steep rise of nearly 36% between FY18-20.”
“Uttar Pradesh became a buzz word amongst the investor fraternity, both domestic and international, and we experienced the same wave during our 14-day participation at Dubai Expo 2020. The Expo has served as an incredible platform for India and Uttar Pradesh to reach out and showcase to the whole world the new face of a fast growing and technologically driven land of unlimited opportunities and immense potential”, Shri Mahana added.
The Uttar Pradesh Week (10-23 December) concluded on a high note as the delegation led by Shri Maneesh Chauhan, Director, Industries, Government of Uttar Pradesh, held 21 G2B meetings and signed an MoU of INR 500 crore (close to USD 66 million) with Sharaf Group which has shown interest in the development of Multimodal Logistics Parks with rail and road connectivity at Kanpur, Moradabad and Varanasi.
Speaking at the occasion, Maj. Gen. (Retd.) Sharafuddin Sharaf, Vice Chairman, Sharaf Group said, “We are happy to announce that we have finalised our investments plans with Uttar Pradesh at three locations involving INR 500 crores initially and going up to INR 1000 crores. With this investment, we are aiming to generate direct and indirect employment of 3600 people.”
Additionally, Lulu Group plans to invest INR 500 crore for establishing Food Processing units in Uttar Pradesh. DP World also agreed to participate in the tender process for development of Multi Modal Logistics Hub (MMLH) at Dadri, UP.
Speaking at the occasion, Mr Saleem V.I., Chief Operating Officer, Lulu Group International said, “As of last year, we have done around INR 4,000 crores of exports from India and more than 50% is from Uttar Pradesh. Our intention is to increase exports from India by 35% in the coming years. With the investment plans, we are hoping to generate direct employment of 5000 and indirect employment of 10,000 in the country. We will also be opening hypermarkets in cities like Kanpur and Noida.”
The delegation from UP also had successful business meetings to explore trade and investment opportunities across sectors like Logistics, Food processing, Tourism, Textiles, MSMEs as it received favourable interest from business groups like Texmas, Hotel Revier Group, Techneplus, Dubai Chamber of Commerce & Industry, Sharjah Chamber of Commerce & Industry, Arenco Real Estate, Al Maya Group among others.
As part of the state week, Uttar Pradesh also showcased its vibrant startup ecosystem as eight entrepreneurs from the state presented their innovative business ideas and made strong pitch to global investors at ‘Elevate’ startup pitching series, a key initiative of the India Pavilion. Tech Eagle Innovations, UP based drone delivery startup for last and mid mile logistics, also signed an MoU with Astral Aerial Solutions, a Kenyan UAV technology company, during the state week.
The state hosted an array of cultural performances throughout the week to highlight its cultural diversity and heritage which included folk dance of Braj, flok songs of Purvanchal known as Birha, Kathak Dance, Awadhi folk singing, folk dance of Rai and Ram Leela.
The closing ceremony of the UP Week was also attended by Dr. Muthukumarasamy B, Special Secretary–Industries, Government of UP, Shri K Kalimuthu, Consul (Economic, Trade & Commerce), Consulate General of India – Dubai while Shri Maneesh Chauhan, Director – Industries, Government of UP, Shri Sanjeev Kumar Mittal, Infrastructure & Industrial Development Commissioner, Government of UP and Shri Arvind Kumar, Additional Chief Secretary–Industries, Government of UP were present virtually.
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