Virendra Singh Rawat / Lucknow
In run up to the proposed Uttar Pradesh Global Investor Summit (GIS) 2023, the state government is seeking partners for sugar and ethanol sectors in Latin America.
The UP government has invited companies of top Latin countries including Brazil, Mexico and Argentina to invest in the sugarcane, sugar and ethanol verticals.
Brazil is among the leading global producers and exporters of sugar and ethanol products, while Mexico is credited with some path breaking research in the fields of agricultural crops such as wheat.
Ahead of the GIS during February 10-12, a bunch of UP delegations has been touring different continents to woo investors and showcase ‘Brand UP’ globally. A delegation, which also comprised UP additional chief secretary, sugarcane and sugar, Sanjay Bhoosreddy, had also visited Latin American shores.
UP is among the top sugarcane, sugar and ethanol producers in India. With the state government looking to up the ante in ethanol, foreign investment in the ethanol value chain would not only benefit the sugarcane farmers but also put UP on the global trading map.
Meanwhile, UP deputy chief minister Brajesh Pathak and fisheries minister Sanjay Nishad held parleys with the representatives of business leaders and associations in Mexico.
They visited the International Maize and Wheat Improvement Center (CIMMYT), Mexico. In fact, Nobel laureate Dr Norman Borlaug had provided the technology of a special variety of wheat developed here to India in the 1960s.
Another UP delegation in Europe discussed investment opportunities with business community and investors in Belgium. According to the state government, Belgian firm Agristo, which has already invested Rs 200 crore in the food sector in Bijnor district of UP, is planning to invest another tranche of Rs 300 crore next year.
Apart from agriculture, the Yogi government is showcasing a bouquet of sectors to foreign investors, including defence and aerospace, tourism, skill development, urban development, IT/ITeS, data centres, manufacturing, expressways, infrastructure, housing etc.
In the coming weeks, even UP CM Yogi Adityanath is slated to visit foreign countries, including the US, as part of the ongoing roadshows for the GIS, wherein the state government is targetting to garner fresh investment proposals worth Rs 10 trillion in different sectors.