Rise in FDI over past 8 yrs: UP govt
"Between 2000 and 2017, the worth of FDI in UP stood at Rs 3,000 crore.
But the scenario has changed drastically now," an official spokesperson said.
Blaming UP's dismal industrial ecosystem under previous govts, the spokesperson said: "The gloomy scenario reflected in poor rankings in ease of doing business, absence of a single-window system, lack of basic infrastructure, unclear industrial policies, and unstable law and order all contributed to a lack of investor confidence."
Determined to change this narrative, the UP govt set a bold vision to make the state the most preferred investment destination, they said adding: "The results speak for themselves—between 2019 and 2023, the state attracted FDI worth thousands of crores, marking a dramatic rise compared to previous decades.
"
Taking references of how the state govt successfully hosted the UP Investors Summit in 2018 and Global Investors Summit in 2023, they informed: "The first attracted investment proposals worth Rs 4.28 lakh crore, while the latter drew a record-breaking Rs 33.50 lakh crore.
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To translate these proposals into reality, four groundbreaking ceremonies (GBCs) have been organised so far, with the fifth scheduled for Nov this year.
"
Officials concerned said through the four GBCs, more than 16,000 projects have been grounded, with over 8,000 of which are already operational, and the rest under implementation. Majority of investment has flowed into the manufacturing (62.25%), services (28.09%) and infrastructure sectors.
Leading global companies like Vivo, Tata, Adani, PepsiCo, Haldiram and IKEA have made largescale investments in the state. For GBC-5, the govt is targeting the grounding of projects worth Rs 5 lakh crore, with the possibility of scaling up to Rs 10 lakh crore by the event date.
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