New Delhi [India]December 15 (ANI): The business community from Sweden has expressed interest in investments worth Rs 15,000 crore in the state of Uttar Pradesh.
The business proposals were submitted during the Stockholm Investment Roadshow held on Wednesday, according to a statement.
A delegation led by UP Industry Minister Nand Gopal Gupta and Public Works Development Minister Jitin Prasada invited Swedish companies to the UP Global Investors Summit 2023.
Uttar Pradesh will host the summit in Lucknow from February 10 to 12, 2023.
Sweden has chosen Uttar Pradesh as its investment destination in India. Investment intentions for Film City, Retail, Tourism and Waste Management were submitted at the roadshow, the statement said. IKEA filed a letter of intent to expand its venture in Uttar Pradesh as it plans to invest Rs 4,300 crore to set up its stores and luxury department stores in Noida, among others.
Additionally, Swedish construction company Serneke has shown interest in investing Rs 10,000 crore in the Film City project in Uttar Pradesh. Luxembourg-based Boson Energy filed a letter of intent to invest Rs 1,000 crore to start a Waste to Energy project in Uttar Pradesh.
Other investment intentions worth about Rs 40 crore in the field of tourism.
Investment opportunities in sectors including defence, textile and clothing, food processing, automobiles and electric vehicles (EVs), renewable energy, waste and water management and transport were discussed in various B2GG2G meetings held during the roadshow in Stockholm, the statement said.
“Uttar Pradesh with its huge population size and proactive government is indeed a very promising investment destination in India. If Swedish industrialists want to invest in India, they should definitely look at Uttar Pradesh. The work that the state has done to bring it to the forefront with a supportive business climate is noticeable,” Jan Larrson, President and CEO, Business Sweden at the Stockholm Roadshow, was quoted as saying in the statement.
During the roadshow, Robin Sukhia, Secretary General and Chairman of the Sweden-India Business Council (SIBC) shared his experiences of living and working in Uttar Pradesh and invited the Swedish business community to explore the great opportunities that the state has to offer.
“UP offers the right framework to promote global investment today, primarily by offering a stable business environment to investors,” he said, according to the statement.
On the occasion, Tanmay Lal, Ambassador of India to Sweden said that Uttar Pradesh with a huge population size of 250 million is at par with the fifth largest country in the world. As UP has emerged as the new investment destination in India with endless investment opportunities, he urged Swedish investors to choose UP as their investment destination in India.
As a precursor to the 2023 Summit, Uttar Pradesh is reaching out to investors through Investor Connect Roadshows in around 18 countries and 7 key Indian cities. (ANI)
Source: sn.dk