More than 50 Non-Resident Indians (NRIs) have shown their desire to set up industries in Uttar Pradesh, of which 32 are already in touch with the state government to invest about Rs 1,045 crore in Noida-Greater Noida, Lucknow, Kanpur, Gorakhpur and Prayagraj. In addition to agriculture, health, IT, manufacturing and solar energy, these NRIs have expressed interest in investing in 15 other sectors.
The Yogi Adityanath government has succeeded in making Uttar Pradesh a favorite destination for both NRIs and foreign investors. The interest among NRI investors has increased in the last couple of years, especially after the Chief Minister launched the website – nri.up.gov.in – last year. Currently, more than 500 Non-Resident Indians have screened the website’s NRI section and 540 of them have been issued NRI cards.
More than 32 NRIs from 18 countries including America, UAE, Oman, Singapore, Australia, Germany, Ghana, New Zealand, Russia, England, etc. have sent their investment proposals to the Indian government. Officials say that four Indians who live in the United States, eight in the United Arab Emirates and two each in Oman, Singapore and England have sent proposals to invest in the state. 13 of these NRI investors already own businesses in the countries of their residences, and now they want to expand them into Uttar Pradesh as well.
Besides, 19 Indians working in senior positions in big companies abroad are setting up their own businesses in the state. For its part, the state government is taking concrete steps to expedite the provision of land to these investors. They also work with NRIs to help them establish their firms. These businesses will provide employment to thousands of people in the state once they are operational.
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Sources said seven NRIs will set up enterprises in the agricultural sector, four in the health and manufacturing sectors, three each in the IT sector, energy sector and solar energy sector and two in the education and food processing sectors. UAE NRIs have proposed to build a grand hospital in UP at a cost of Rs 400 crore. Dr. S. Singh, a Russian-based NRI, will invest Rs 300 crore in a renewable energy project.
NRIs residing in Kuwait have proposed to invest Rs 100 crore in the automotive sector, while NRIs residing in Ghana and New Zealand have proposed investments worth Rs 150 crore in agriculture. The Chief Minister has ordered officials to contact NRIs that want to set up business in Uttar Pradesh as well as expedite procedures to help their projects get off the ground as quickly as possible.
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