Pacts worth US$ 2.3 billion (Rs. 19,265 crores) signed with firms in the US, Canada ahead of the UP GIS-23
- IBEF
- January 5, 2023
The Uttar Pradesh Government has signed initial pacts worth US$ 2.3 billion (Rs. 19,265 crores) with firms in the US and Canada, ahead of the UP Global Investors Summit 2023 (GIS).
A team, led by the Assembly Speaker Mr. Satish Mahana and the Minister of Animal Husbandry, Mr. Dharampal Singh, showcased the state to the investors in the US and Canada and simultaneously conducted around 51 government-to-government (G2G) and business-to-business meetings (B2B) in the span of three days.
As per a release, about 27 letters of intent have been received which are worth more than US$ 4.9 billion (Rs. 41,000 crores), and eight proposals out of them were converted into a memorandum of understanding (MoU). Of these MoUs, four strategic partnerships were signed, whereas the MoUs on the remaining 19 proposals are expected to be signed before GIS-23.
The majority of investments in the MoUs signed are going to be in the sectors of logistics, defence and aerospace, creating numerous job opportunities in the state. MoUs worth US$ 248 million (Rs. 2,055 crores) were signed between the state government and the healthcare sector companies.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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