UP Eyes Big Investment From America In GIS 2023
The ‘Global Investors Summit-2023’, scheduled to be held in 2023 in UP, is expected to receive huge investment from America in nine sectors including IT, Agriculture sectors, among others. This is one of the biggest events to attract investors from across the globe to UP.
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 touch with various trade organizations of America, from where encouraging responses have been received.
Sectors receiving interest from America
The 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.
Moreover, a large number of venture capitalists are also willing to invest in Uttar Pradesh. The state has the maximum number of over 90 lakh MSME clusters, where continuous communication 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.
The IT sector
Communication is being established with companies like Apple, Microsoft Corporation, Alphabet (Google), Amazon, Meta, Visa, Intel, Cisco, Oracle and Adobe.
*Agro and Food Processing Companies*
These include Archer Daniels Midland (ADM), Syngenta, Bureau Veritas, Corteva Agriscience, Neutrino, Indigo and Pioneer.
*Aero and Defence*
These include BAE Systems, Safran SA, Raytheon, Northrop Grumman, GE Aviation, General Dynamics Corporation, Lockheed Martin Corporation, United Technology Corporation (UTC), Airbus SE and The Boeing Company is included.
*Pharma and Medical*
This includes Johnson & Johnson, Pfizer Inc., Merck & Co., Abbyy Inc., Bristol Meyers Squibb, Abbott Laboratories, Amgen, Gilead Sciences, Eli Lilly & Company and Biogen.
*Energy*
These include Exxon Mobil Corporation, Chevron Corporation, Nextra Energy, General Electric, Conco Phillips, Dominion Energy, Duke Energy Corporation and The Southern.
*Venture Capital*
These include DCM Venture, Greylock Partners, Insight Venture Partners and Union Square Venture.
*Retail*
Walmart, Amazon, Costo Wholesale and The Home Depot.
*Automobiles*
General Motors, Ford Motor, BMW, Volkswagen, Tesla, Deere & Co, Pescar Inc and Nissan Motors.
*Business organizations*
US Small Business Administration (SBA), National Women's Business Council, SCORE Business Mentoring, Veterans Business Outreach Center (VBOC). Alos, US Chamber of Commerce Small Business Council, US Export Assistance Center, United States Minority Chamber of Commerce, Entrepreneur Organization, National Federation of Independent Business (NFIB), International Franchises Association (IFA), National Restaurant Association, National Retail Federation, American Marketing Association (AMA), United States Telecom Association.
Officers have been deployed to assist US
The Yogi government has appointed a team of officers to gather investment from American companies in Uttar Pradesh. In these, two officers above the level of Secretary, two officers 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 finalize deals with American companies.
