Sweden will likely invest 150,000 million in UP
December 19, 2022 CW Team
Swedish businessmen are interested in making investments in Uttar Pradesh for a total of 150 million euros. According to a statement, the business intentions were submitted at the Stockholm Investment Roadshow on Wednesday.
Swedish corporate houses were invited to the United Provinces Global Investors Summit 2023 by Industries Minister Nand Gopal Gupta and Public Works Minister Jitin Prasada, who led a state government delegation there.
“UP has been chosen by Sweden as the location for its investment in India. At the roadshow, investment intentions were registered for waste management, Film City, retail and tourism, according to the statement. Ikea submitted a letter of intent to expand its business in Uttar Pradesh, announcing plans to invest $43,000,000,000 in the construction of luxury malls and shops, including those in Noida.
Serneke, a Swedish construction company, announced plans to invest Rs 10,000 crore in the Uttar Pradesh Film City project.
Six MoUs totaling 1,200 crore in investments were signed simultaneously in Vancouver, Canada. A memorandum of understanding for the establishment of nurture start-ups in Uttar Pradesh was signed during a meeting between the UP government delegation and iCreate founder Parag Amin in New York.
Arvind Kumar, Commissioner for Infrastructure and Industrial Development, claimed that UP had grown in popularity as an investment location. Awanish Kumar Awasthi, Advisor to the Chief Minister, said, “If you don’t do business with UP, you are missing out on the potential of the largest state in India.