Ahead of Uttar Pradesh Global Investors’ Summit-2023 (UPGIS-2023), foreign investors have expressed interest in investing in various sectors in the state, according to the State Government. Apparel and textile sectors are included in the sectors foreign investors are keen to invest in, according to a press release.
Eight teams had been sent abroad by Chief Minister Yogi Adityanath to hold international roadshows in 21 cities of 16 countries. These roadshows were meant to attract investment in the run-up to the UPGIS-2023 which is scheduled to be held in Lucknow from 10th-12th February.
Around 108 memorandums of understanding (MoUs) worth Rs. 7.12 lakh crore were signed at these roadshows and the investment proposals when implemented, are expected to generate employment for up to 7 lakh people in the state.
For the apparel and textile sector, Japan India Industry Promotion Association signed MoU worth Rs. 2,500 crore and Nisenken Quality Evaluation Centre signed an MoU of Rs. 10,000 crore in Japan and South Korea. The total investment for the sector stood at Rs. 12,500 crore.