Targetting to become a $trillion economy by 2027, Uttar Pradesh is eyeing investment from top US companies in a slew of sectors including IT/electronics, agriculture, defence and aerospace etc.
Some of these marquee US tech firms comprise Apple, Microsoft, Alphabet (Google), Amazon, Meta, Intel etc. Similarly, leading companies in other sectors are on the radar of the Yogi Adityanath government 2.0 for inward investment.
Last month, chief minister Adityanath had unveiled the logo and theme of the proposed UP Global Investors Summit 2023 in New Delhi. The state government is aiming to garner total investment of Rs 10 trillion at the mega three-day Summit in February.
The CM and his cabinet colleagues are slated to begin their roadshows in major international cities later this month as a prelude to the Summit.
Besides, the government has sent invitations to a large number of US companies. Top government officials are in constant touch with prominent business and trade organisations of USA.
According to a government official, UP is fast charting the course to become the growth engine of India’s development ecosystem. Therefore, the state is eliciting interest from US firms.
Major venture capitalists are also keen to invest in UP. These include DCM Venture, Greylock Partners, Insight Venture Partners and Union Square Venture. The retail firms include Walmart, Amazon, Costo Wholesale and The Home Depot.
Leading agro and food processing companies in touch with the UP government include Archer Daniels Midland (ADM), Syngenta, Bureau Veritas, Corteva Agriscience, Neutrino, Indigo and Pioneer.
The companies in the aero and defence sector include BAE Systems, Safran SA, Raytheon, Northrop Grumman, GE Aviation, General Dynamics Corporation, Lockheed Martin Corporation, United Technology Corporation (UTC), Airbus SE and The Boeing Company.
Other firms in different sectors include Johnson & Johnson, Pfizer Inc., Merck & Co., Abbyy Inc., Bristol Meyers Squibb, Abbott Laboratories, Amgen, Gilead Sciences, Eli Lilly & Company and Biogen, Exxon Mobil Corporation, Chevron Corporation, Nextra Energy, General Electric, Conco Phillips, Dominion Energy, Duke Energy Corporation and The Southern.
The clutch of US business chambers in touch with the UP officials comprises the US Small Business Administration (SBA), National Women’s Business Council, SCORE Business Mentoring, Veterans Business Outreach Center (VBOC) etc.
It also includes US Chamber of Commerce Small Business Council, US Export Assistance Center, United States Minority Chamber of Commerce, Entrepreneur Organization, National Federation of Independent Business (NFIB), International Franchises Association (IFA), National Restaurant Association, National Retail Federation, American Marketing Association (AMA), United States Telecom Association etc.