India's Uttar Pradesh to organise Global Investors Summit-2023 in Feb

25 Nov '22

2 min read

Pic: Shutterstock

Uttar Pradesh chief minister Yogi Adityanath recently announced the Global Investors Summit-2023 to be held in the state from February 10 to 12. Ever since the state government announced its intent to host the summit, at least 34 foreign companies have signed memoranda of understanding (MoUs) with the former for investment, mostly largely in five sectors, including textiles.

The target is to attract investment worth ₹10 lakh crore at the summit. At an event in New Delhi, the chief minister said the state has set a goal of a $1-trillion economy following the prime minister’s plan to grow India’s economy to $5 trillion.

Twenty two MoUs for projects worth ₹1,853.52 crore have been signed in the textiles and handloom sector. Textile sector has so far bagged the maximum number of MoUs signed by foreign companies.

Investors from Singapore, Australia, Sweden, Belgium, Germany South Korea, Thailand, Japan, the United Kingdom, France and the Netherlands have expressed interest in textiles and several other sectors.

Adityanath said the summit would offer a unified platform to the global industrial world for cooperation in economic development.

About 21 countries have expressed their enthusiasm to participate in the event, he said.

“I am happy to inform you that the Netherlands, Denmark, Singapore, the United Kingdom and Mauritius will be participating with us as partner countries in the Global Investors Summit. Apart from this, the state government is also organising roadshows in 18 countries and seven major cities of India to invite industrial investors from all over the world to the summit,” he was quoted as saying by media reports.

Fibre2Fashion News Desk (DS)

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