Six UAE firms to invest Dh8.2 billion in India’s UP state

[walterbibikow]

India’s Uttar Pradesh (UP) state government said on Tuesday that it has signed memoranda of understanding (MoUs) with six UAE-based companies worth Rs185.9 billion (Dh8.2 billion) ahead of the Global Investors Summit to be held in Lucknow in February.

Three UAE firms, Lulu Group, Sharaf Group, and Hindustan Ports, will invest Rs45 billion, Rs13 billion and Rs2.1 billion, respectively in retail, hotel and logistics parks in the state.

The first series of MoUs will help create over 20,000 jobs. The Sharaf Group and Hindustan Ports will generate 1,500 and 1,000 jobs, respectively.

Astha Green Energy Venture and Shree Siddharth Infratech and Services will invest Rs44.8 billion and Rs80 billion respectively in renewable energy to create 2,560 and 4,800 jobs.

Lulu Group will set up six shopping malls and one hotel in the state, creating 10,000 jobs. As per the MoU, Lulu will set up shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj.

Ahead of the summit, eight state government teams visited 16 countries, receiving investment proposals worth more than Rs7.12 trillion. The largest share of such proposals worth Rs4 trillion was received from the United Kingdom and the United States.

The overwhelming response to the overseas roadshows has prompted the government to increase the investment target for the GIS by 70 per cent to Rs17 trillion. Earlier, the Yogi Adityanath-led government had targeted a net private investment of Rs10 trillion at the scheduled February 10-12, 2023 summit.

Prime Minister Narendra Modi, President Draupadi Murmu, Home Minister Amit Shah, Defence Minister Rajnath Singh and other federal ministers will attend the summit.

"With a population of 240 million, our target is that Uttar Pradesh's share in the country's $5 trillion economy should be around 20 per cent. For that, the Yogi government of the state has made many changes under the ease of doing business policy. In 2019, in the ease of doing the business rating, Uttar Pradesh jumped 12 places and secured the second position," UP’s MSME Minister Rakesh Sachan has said.

Six UAE firms to invest Dh8.2 billion in India’s UP state

The first series of MoUs will help create over 20,000 jobs. The Sharaf Group and Hindustan Ports will generate 1,500 and 1,000 jobs, respectively

www.google.com

 

[INS_Vikrant]

The rate at which the investments are pouring in Gujarat, TN and UP, they three might be able to beat Maharashtra in becoming first trillion dollar gdp state of India.

 

[Windjammer]

Arabs know well that Indians are very submissive, they often treat Asians specially the Indians like a foot mat.
Remember how this UAE guy locked up Indians like animals in a cage.

 

[LakeHawk180]

Arabs know well that Indians are very submissive, they often treat Asians specially the Indians like a foot mat.
Remember how this UAE guy locked up Indians like animals in a cage.

View attachment 909440

You do realise the firms mentioned above are largely Indian owned or operated right? It’s just our own people coming back mostly.

I feel the pain in your post.

It’s one of the good things about having a national reputation for producing top-notch technologists and managers.

 

[Great Janjua]

Arabs know well that Indians are very submissive, they often treat Asians specially the Indians like a foot mat.
Remember how this UAE guy locked up Indians like animals in a cage.

View attachment 909440

Same happens to Pak labourers as well in GCC countries i dont know Pakis think arabs prefer them over Indians to them your the same even though we have cultural differences in the subcontinent.

 

[Windjammer]

You do realise the firms mentioned above are largely Indian owned or operated right? It’s just our own people coming back mostly.

I feel the pain in your post.

It’s one of the good things about having a national reputation for producing top-notch technologists and managers.

Two massive Five Star hotels and shopping malls are being built by UAE investors right next to where I stay in Pakistan, one is called Geovara. Maybe I should open a thread on those as well. Just to feel good.
The real pain is obvious when you creatures crawl on our thread and post laughing emojis to cover your frustration.