Singapore investors commit Rs 200 bn inflow for UP

22 Dec 2022 CW Team

During a four-day presentation in Singapore, the island nation's investors have committed nearly Rs 200 billion worth of investment in Uttar Pradesh in a range of fields such as data centres, logistics services and education. The investments were committed following a four-day presentation, which concluded this week, by the UP Global Investment Summit (UPGIS) delegation led by the state’s Minister of Jal Shakti and Flood Control Swatantra Dev Singh.

Singapore is a partner country in UPGIS, to be held in Lucknow from February 10-12.

“It was a very successful trip. The G2G (government to government) engagement was very warm and fruitful,” Deepak Kumar, Principal Secretary, Basic Education Department of Uttar Pradesh, said.

He added, “The Rs 20,000 crore intended investments will be in infrastructure, hyperscale data centres, inland waterways, logistics and warehousing, food and agro-processing, educational institutions, skilling centres, waste management, and the like.”

According to the chief executive officer, Noida authority, around Rs 77 billion more memorandums of understanding were signed on Monday for investment in semiconductor (FAb), IT parks, agro processing, skills, waterways and smart city in UP.

Besides, the UP government signed 12 financial MoUs with Singapore-based corporations and investors during the visit from December 15-19.

One non-financial MoU was signed with the Singapore Indian Chamber of Commerce and Industry (SICCI) for exploring business opportunities and collaboration in Uttar Pradesh.

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