Uttar Pradesh bullish on foreign investment

Uttar Pradesh is bullish on its potential as an investment destination not only for domestic but also global investors.

With its sight firmly on the $1 trillion economy goal, the Yogi Adityanath government has amended several industry related laws to improve its ease of doing business ecosystem.

In a clear indication of such changes beginning to deliver the goods, Uttar Pradesh has netted investment proposals of about Rs 20,300 crore worth of Foreign Direct Investment (FDI) and Foreign Capital Investment (FCI).

The investment proposals came under the ‘Uttar Pradesh FDI/FCI, Fortune Global 500, and Fortune India 500 Company Investment Promotion Policy 2023’.

Of the 21 FDI/FCI proposals totalling Rs 20,300 crore, proposals of Rs 12,500 crore have been approved and issued with the Letter of Comfort (LoC) by the Yogi government.

The remaining lot of proposals worth Rs 7,800 crore are pending for approval by 'Invest UP' - the nodal agency for facilitating investments.

LoC is the state government's undertaking/guarantee to investors regarding incentives upon fulfilling investment conditions.

Meanwhile, under the UP Industrial Investment and Employment Promotion Policy 2022, 85 proposals worth Rs 1.11 trillion have been approved, while 30 proposals worth Rs 1.10 trillion are in the pipeline.

Women leading startup bandwagon in Uttar Pradesh

Underlining equity in the business ecosystem, women-led startups have jumped 30 percent to nearly 9,600 in Uttar Pradesh.

From roughly 6,812 startups promoted by women a year back, the number of similar startups has now breached the 9,600 mark, indicating their march towards entrepreneurship.

At present, Uttar Pradesh is home to 19,000 startups recognised by the Central Government’s Department for Promotion of Industry and Internal Trade (DPIIT).

Thus, women-led startups today account for more than 50 percent of UP's current startup tally.

The Yogi Adityanath government has already constituted a Rs 1,000 crore 'UP Startup Fund' to convert ideas into business ventures by providing financial support at both the early and expansion stages.

So far, Rs 325 crore has been approved from this Fund for assistance to startups, which has fortified the state's startup ecosystem.

Meanwhile, the state's 'Start in UP' scheme is also emerging as a strong foundation for new entrepreneurs. Under this roadmap, more than 3,000 startups have been recognised.

Of these, over 900 startups are run by women leaders, thus marking a significant step toward women entrepreneurship.

Moreover, 2,100 startups have received incubation support, providing them with technical guidance, mentorship, and business support.

Since, new startups need capital and market access in the early stages, the Yogi government is offering seed capital and marketing assistance, benefitting 376 ventures with a financial support to the tune of Rs 26.43 crore.

Similarly, the state has benefitted 74 applicants with approval of Rs 3.55 crore for prototype development, which is a crucial stage in turning an idea into a successful business.

Currently, 76 recognised incubators are functioning in UP, providing technical, managerial, and strategic support to startups.

These incubators have received assistance of Rs 14.80 crore to foster the state's image as an amenable startup hub.

To handhold startups, UP has also implemented livelihood allowance and incentive schemes.

Under these, 115 livelihood allowance applications have been approved and sanctioned Rs 2.46 crore, which has reduced the initial risk for startups.

Noida, Lucknow, Ghaziabad and Kanpur are among the top cities in terms of the registered startups.

Some of the leading startups and unicorns incorporated in UP include Pine Labs, Spice Money, Paytm Payments Bank, Advisorymandi, OneCode, Wishfin, GramCover, Marquee Equity, Buddy4Study etc, IndiaMart, Info Edge, PhysicsWallah etc.

UP logs investment proposals of Rs 2.92 trillion at Davos

Expanding its wings for global investments, Uttar Pradesh has logged investment proposals to the tune of Rs 2.92 trillion at the 56th World Economic Forum (WEF) Annual Meeting 2026 during January 19–23 at Davos in Switzerland.

Led by UP finance minister Suresh Khanna, the state inked 31 Memoranda of Understanding (MoUs) across key sectors viz. data centers, renewable energy, waste-to-energy, manufacturing and artificial intelligence (AI).

These partnerships align with UP’s vision of becoming a $1 trillion economy, Khanna told newspersons recently after arriving in Lucknow from Davos.

Discussions were held with global tech firms including Google, Uber, HCLTech, Tech Mahindra, Cisco, Deloitte, Google Cloud, Automation Anywhere, and SA Technologies.

“The focus areas covered Global Capability Centers (GCCs), AI, data centers, digital governance, skill development, and mobility solutions,” he added.

An MoU with AM Green Group pertained to the establishment of a 1 GW AI-focused data centre in Greater Noida, with a proposed investment kitty of nearly Rs 2.10 trillion by 2028.

Ride hailing service Uber evinced interest in expanding mobility partnerships, and in establishing a potential GCC in Noida.

Rashmi Metallurgical committed an investment of Rs 4,000 crore for a 1 MTPA integrated steel plant.

AB InBev, Godrej, Philip Morris International, Kübler Group, Schneider Electric etc discussed manufacturing, smart factories, Industry 4.0, supply chains etc.

Moreover, discussions were held with Grundfos, Ramky Group, and Schneider Electric on partnerships in water management, irrigation, solar pump solutions, sewage and waste management, microgrids, and smart villages.

Grundfos is exploring for the solarization of 50,000–60,000 pumps annually in Uttar Pradesh, and proposed pilot projects in Lucknow, Noida, and Varanasi.

Bayer Consumer Health and Agilent Technologies explored opportunities in agro-processing, pharmaceuticals, diagnostics, research and development and life sciences.

Besides, engagements with BlackRock, Deloitte, Marsh McLennan, Adecco, and Wealthdoor focused on long-term capital investment, FDI/FPI, institutional capacity building, risk management, skill development, and global talent.

Adecco is keen to establish a centre in Lucknow to leverage Uttar Pradesh’s progressive services sector and employment ecosystem.

Khanna said the Yogi Adityanath government showcased UP’s development and investment potential through participation for the third consecutive year at the WEF.

“This participation reaffirmed the state’s commitment to accelerating economic transformation and positioning UP as a globally competitive investment hub,” he underscored.

Now, Invest UP will strengthen policy support, infrastructure, skilled human resources, regulatory facilitation, and inter-departmental coordination to translate investment intentions into outcomes.