Indian Economy News

Singapore commits investment worth US$ 200 billion (Rs. 20,000 crore) to Uttar Pradesh

  • IBEF
  • December 21, 2022

Singapore’s investors, during the four-day presentation, have committed investment worth US$ 200 billion (Rs. 20,000 crores) in Uttar Pradesh, distributed in a range of fields like data centres, logistics services and education, etc. The four-day presentation was concluded by the UP Global Investment Summit (UPGIS) delegation, which was led by Mr. Swatantra Dev Singh, State Minister of Jal Shakti and Flood Control. UPGIS is to be held from February 10-12, 2023, in Lucknow.

The US$ 200 billion investments will be in infrastructure, data centres, inland waterways, logistics and warehousing, food and agro-processing, educational institutions, skilling centres, waste management, and so on.

As per the Chief Executive Officer, Noida Authority, around US$ 77 billion (Rs. 7,700 crores) more Memorandum of Understandings (MoUs) were signed for investment in semiconductor, IT park, agro-processing, skills, waterways, and smart city in UP. Apart from that, 12 financial MoUs were signed with Singapore-based corporations and investors, along with one non-financial MoU with the Singapore Indian Chamber of Commerce and Industry (SICCI).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.