Sweden likely to invest 150,000 million in UP

Swedish businesspeople are interested in making investments in Uttar Pradesh totaling 150 million euros. According to a statement, the business intentions were submitted at the Stockholm Investment Roadshow on Wednesday.

Swedish corporate houses were invited to the United Provinces' Global Investors Summit in 2023 by Industries Minister Nand Gopal Gupta and Public Works Minister Jitin Prasada, who were leading a delegation of the state government there.

"UP has been chosen by Sweden as the location of its investment in India. At the roadshow, investment intentions were registered for waste management, Film City, retail, and tourism, according to the statement. Ikea submitted a notice of intent to expand its business in Uttar Pradesh, announcing plans to invest $43,000,000,000 in the construction of luxury malls and retail stores, including those in Noida.

Serneke, a Swedish construction business, announced plans to invest 10,000 crore in the Uttar Pradesh Film City project.

Six Memorandums of Understanding totalling 1,200 crore in investments were signed at the same time in Vancouver, Canada. A memorandum of understanding for the establishment of nurture start- ups in Uttar Pradesh was inked during a meeting between the UP government delegation and iCreate founder Parag Amin in New York.

Arvind Kumar, commissioner of infrastructure and industrial development, claimed that UP had grown in popularity as an investment location. Awanish Kumar Awasthi, the chief minister's advisor, stated, "If you are not doing business with UP, then you are missing out on the potential of the largest state in India.