Inside Uttar Pradesh

Over 30 NRIs from 18 countries propose to invest Rs 1,045 crore in UP’s 5 districts: Official

Lucknow: More than 50 Non-Resident Indians (NRIs) have initiated to set up industries in the state of Uttar Pradesh, a state official said on Friday.

Of the interested investors, 32 are in touch with the State Government to invest about Rs 1045 crore in Noida-Greater Noida, Lucknow, Kanpur, Gorakhpur and Prayagraj. They have also shown interest in investing in 15 sectors, including among others, agriculture, health, IT, manufacturing and solar energy, state officials said.
According to the official, the interest among NRI investors has increased in the last couple of years, especially after the launch of the website by last year. The NRI section of the website has been screened by over 500 Non-Resident Indians for investing in UP while NRI cards have been issued to 540 of them.

These investors are staying in 18 countries, including America, UAE, Oman, Singapore, Australia, Germany, Ghana, New Zealand, Russia, England etc. have sent their proposals to the Government to invest in the state.

According to officials here, four US-based Indians, as well as eight residing in the UAE and two Indians each living in Oman, Singapore and England, have sent their proposals to the Government to invest in Uttar Pradesh till now.

As many as 13 of these NRI investors already have businesses in the countries of their residences and now they want to expand it to UP as well. Besides, 19 Indians working in responsible positions in big companies abroad are now moving to UP to set up their enterprises.
The State Government, on its part, is making concrete efforts to expedite the provision of land to these prospective investors. They are also in constant touch with NRIs to help them establish their firms. Once operational, these ventures of NRIs will provide employment to thousands of people of the state, the officials told media.

According to him, seven NRIs have expressed their willingness to set up their enterprises in the field of agriculture, four each in the health and the manufacturing sectors, three each in the IT and energy and solar energy sectors as well as two each in the education and food processing sectors.

NRIs from the UAE have proposed to build a grand hospital in UP at the estimated cost of Rs 400 crore. Similarly, Dr S Singh, a Russia-based NRI, will invest Rs 300 crore in a renewable energy project. Non-Resident Indians residing in Kuwait have proposed to invest Rs 100 crore in the automotive sector. Furthermore, NRIs residing in Ghana and New Zealand have made investment proposals worth Rs 150 crore in the agriculture sector.

The Chief Minister has directed the officials to contact NRIs who are willing to set up their ventures in UP and also expedite procedures to help their projects get off the ground as soon as possible.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker