Sunday, Mar 3 2024 | Time 11:26 Hrs(IST)
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Business Economy


UP eyes big investment from US cos during GIS-23

Lucknow, Nov 26 (UNI) Through the Global Investors Summit-2023 Uttar Pradesh is expected to receive huge investment from America in nine sectors including Information and Technology (IT) and agriculture sectors.
According to Invest UP, the nodal agency of GIS-2023, the state is eyeing massive investment from top American companies. The government has sent invitations for UPGIS 2023 to a large number of US companies. Apart from this, government officials are also in constant contact with various trade organisations of America, from which encouraging responses have been received.
Sectors that have received special interest from US companies include IT and electronics, agriculture and food processing, defence and aerospace, pharmaceutical and medical devices, energy, retail and automobiles.
An Invest UP spokesman said on Saturday that a large number of venture capitalists are also willing to invest in UP. "The state has the maximum number of over 90 lakh MSME clusters, where continuous contact is being made at the government level with American venture capitalists to invite investment. Investment is expected to stop the migration of the youth from the state to other places in search of employment and will also aid in the startups flourishing," he said.
Communication is being established with companies like Apple, Microsoft Corporation, Alphabet (Google), Amazon, Meta, Visa, Intel, Cisco, Oracle and Adobe. The Yogi government has appointed a team of officers to gather investment from American companies in UP.
Among these, two officers above secretary level, two from IT and Electronics and Health Department, one officer from the Planning Department and one officer from the Industries Department have been appointed. Apart from this, one officer from the CM's office and three officers from Invest UP have been asked to work in mission mode to finalise deals with American companies.
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