Yogi Adityanath says global investor summit will bring in investment more than UP's GDP

Chief Minister Yogi Adityanath has said the global investor summit, which the state will host from February 10-12, will bring in investments that will top Uttar Pradesh’s GDP.

In an interview to Network 18 on February 5, the chief minister said Uttar Pradesh was targeting investments worth Rs 15 lakh crore to Rs 17 lakh crore for the Global Investors Summit 2023.

“UP under the leadership of Prime Minister Modi in the past six years has doubled its development. GDP and per capita income, too, have doubled,” he said.

“We undertook robust reforms in various sectors and also identified 25 sectors where investments can be brought in.”

Prime Minister Narendra Modi will inaugurate the summit that will be held in the state capital Lucknow, as India’s most populous state chases the dream of becoming a 1-trillion dollar economy.

The state's economy has been growing at 8 percent CAGR over the last five years, with significant improvements in infrastructure.

The state is eyeing defence, aerospace, semiconductors, IT and ITeS sectors along with data centres, lining up incentives to woo the industry.

“Ahead of global investors summit, we will be able to bring investment proposals more than the state's GDP,” the chief minister said.

Uttar Pradesh has 96 lakh MSME units and exports have doubled. Infrastructure and interstate connectivity has been strengthened, airports developed… “web of express highway etc will aid UP's development,” Adityanath said.

Talking about ease of doing business, the chief minister said an investor signing a memorandum of understanding with the state if offered a single-window platform where 350 clearances are being given in one go.

His office will monitor automated processing of investment proposals that come in during the summit to achieve the investment goals, he said.