Uttar Pradesh expects Rs 20,000 crore inflow at Investors’ Meet Conclave

LUCKNOW: The Uttar Pradesh government expects to garner at least Rs 20,000 crore of investment at its Investors’ Conclave in Delhi, with several leading corporate groups and the American Chambers of Commerce in India (AMCHAM) having confirmed participation of 20 top US companies.

Having held preliminary meetings with potential investors before the June 12 meet, chief secretary Alok Ranjan was optimistic. “I think we will definitely manage the Rs 20,000-crore target, which will be a huge achievement. The figure could be more,” he said.

Intel, Phillips, Pepsi, Alstom, Cisco, Essel and Fortis are among some of the big names from across the Atlantic who will be participating in the Investors’ Concalve. The Taiwan Chambers and Indo-Italian Chambers, along with several ambassadors and diplomats from Canada, Germany, Czech Republic, Turkey and Netherlands have confirmed participation.

The state government hopes to blot out the negativity surrounding Uttar Pradesh and establish it as an investor-friendly destination, through the event in Delhi. To this end, it will hold similar conclaves in Mumbai by the year-end and in Agra next year.

Chief minister Akhilesh Yadav will hold one to one meetings with investors who have specific investment proposals in hand. He will also host some of top corporate bosses from India and abroad at a breakfast meeting where candid conversation between what the government seeks and what the investors concerns would be sorted out.