The business community from Sweden has expressed interest in investments worth Rs 15,000 crore in the state of Uttar Pradesh.
The business intentions were filed during Stockholm Investment Roadshow that was 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 business houses to UP Global Investors Summit 2023.
Uttar Pradesh is set to organize the summit in Lucknow from February 10 to 12, 2023.
Sweden has selected Uttar Pradesh as its investment destination in India. Investment intents for Film City, Retail, Tourism, and Waste Management were filed at the roadshow, the statement said. IKEA filed an intent to expand its venture in Uttar Pradesh as they plan to invest Rs 4,300 crore for setting up its retail stores and luxury malls in Noida, among other cities.
Besides, Swedish construction company Serneke has shown interest to invest Rs 10,000 crore in the Film City project in Uttar Pradesh. Luxemburg-based Boson Energy filed an intent to invest Rs 1,000 crore for setting up a Waste to Energy project in Uttar Pradesh.
Other investment intents worth approximately Rs 40 crore in the field of tourism.
Investment opportunities in sectors including defense, textile and garments, food processing, automobiles and EVs (electric vehicles), renewable energy, waste and water management, and transportation were discussed in various B2G & G2G meetings held during the roadshow at Stockholm, the statement said.
"Uttar Pradesh with its huge population size and proactive government is indeed a most promising investment destination in India. If Swedish industrialists want to invest in India, then they should definitely look at Uttar Pradesh. The work done by the state to bring it to the forefront with a supportive business climate is appreciable", Jan Larrson, President and CEO, Business Sweden at the Stockholm Roadshow, was quoted in the statement.
During the roadshow, Robin Sukhia, the Secretary-General and President of the Sweden-India Business Council (SIBC) shared his experiences of having lived and worked in Uttar Pradesh and invited the Swedish business community to explore ample opportunities that the state has to offer.
"UP is offering the right framework for promoting global investments today, primarily by offering a stable business environment to the investors," he said, as per 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. Since UP has emerged as the new investment destination in India with infinite 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 some 18 countries and 7 key Indian cities.
( With inputs from ANI )
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