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.