SME Editorial
The Yogi government has orchestrated a remarkable transformation of Uttar Pradesh, positioning it as an enticing investment destination not only for domestic investors but also drawing attention from the global investment community.
The notable surge in Foreign Direct Investment (FDI) inflows into the state stands as a testament to the shifting perception of Uttar Pradesh among investors.
Under the dynamic leadership of Chief Minister Yogi Adityanath, the state government has successfully attracted approximately Rs 10,000 crores in foreign investments through various channels from 2017 to 2022. As of 2023, foreign investments have reached Rs 3,372 crores, with expectations of further growth to Rs 3,700 crores during the upcoming Ground Breaking Ceremony (GBC).
Uttar Pradesh has witnessed substantial contributions from major foreign investors. According to data from Invest UP, the nodal department for industrial investment in the state, FDI inflows into Uttar Pradesh have displayed significant growth over the past few years.
In the financial year 2020, the state attracted Rs 1,738 crores in FDI, accounting for 0.49 percent of the country’s total FDI. In 2021, the FDI inflow surged to Rs 4,861 crores, constituting 1.10 percent of the total FDI in the country. Similarly, in the financial year 2022, Uttar Pradesh drew Rs 3,357.57 crores in FDI, making up 0.77 percent of the total FDI. As of the financial year 2023, the state has already received Rs 3,372.72 crores in FDI, contributing 0.92 percent to the country’s total FDI.
During this period, prominent foreign investors such as Samsung, Microsoft, Uber, PepsiCo, Fairfox, Hindustan Unilever, AB Mauri, Air Liquide, Sify, STT Global, NTT, Lulu Group, Vivo, Haier, Holitech, Sunwoda, Luochuang LI, and others have expanded their commercial ventures in Uttar Pradesh.
Anticipating continued growth, several international investors are planning to expand their projects in Uttar Pradesh in 2023-24, contributing an estimated Rs 3,700 crores in investments. Notable projects include Susteen Ltd.’s ‘Sustainable Protein: Protein from Sugar’ project in Muzaffarnagar, the Sharaf Group’s logistics park in Kanpur, and Perosphere India’s novel coagulometer system project in Gautam Buddha Nagar.
These investments are poised to generate ample employment opportunities, with projects ranging from eKuber Ventures’ Farmhouse and Eco-Tourism initiative in Shravasti to Univest International’s residential township in Lucknow. The diverse range of investments spans industries like food processing, IT parks, construction materials, and logistics, underscoring Uttar Pradesh’s growing appeal as a robust economic and industrial hub under Chief Minister Yogi Adityanath’s leadership.
