Lucknow (Uttar Pradesh) [India], September 3 : Uttar Pradesh government has launched an extensive campaign to position the state as a global investment hub. With a strong emphasis on attracting foreign capital, the state is implementing the China+1 strategy, engaging with over 200 international companies to date, according to an official release from the state government.
To turn these opportunities into reality, the government is collaborating closely with Indian embassies and various global institutions. As a result, investor confidence in Uttar Pradesh is steadily increasing, and the state is rapidly emerging as a preferred destination for global investment, according to the release.
Under this strategy, the focus is on companies from countries such as the United States, Japan, China, France, and Denmark. This includes more than 30 companies from the US, nearly 30 from Germany, 20 from Japan, 14 from China, seven each from Switzerland and France, six from Denmark, and five from Spain--all of which are expressing interest in investing in the state.
To streamline this process, the government plans to establish special country-specific teams and desks to convert these leads into concrete investments, with active support from Indian embassies abroad.
As part of its investment promotion drive, the Uttar Pradesh government has already made significant progress. Out of 574 Production Linked Incentive (PLI) projects approved by the Government of India, 70 companies are currently operating in UP, 11 are working on new projects, and 20 have directly signed MoUs with the state government. In addition, active follow-ups are underway with 473 companies to accelerate investment.
Taking an innovative approach to investor facilitation, the state has appointed account managers for 814 companies, including Fortune 500 and India Next 500 firms. These cover diverse sectors, including shipping, telecom, petrochemicals, retail, insurance, and public sector banking. Prominent PSUs, such as Gujarat State Petronet and TN Newsprint, are also part of this mission. So far, 50 new MoUs have been signed through this initiative, while talks continue with 16 fresh leads and 282 potential investors.
"Several factors are driving foreign companies to invest in Uttar Pradesh. The most crucial is strong political leadership, with CM Yogi's decisive and stable governance inspiring confidence. Alongside this, the state offers world-class infrastructure--expressways, airports, industrial corridors--combined with the advantage of being India's largest consumer base. Improvements in ease of doing business, including a single-window clearance system and investor facilitation centres, are further strengthening UP's appeal," said the release.
The China+1 strategy, adopted by multinational companies worldwide, aims to diversify manufacturing and supply chains beyond China. Uttar Pradesh stands to gain the most from this shift due to its large population, an abundant and skilled yet affordable workforce, a vast domestic market, and proactive government policies. Leveraging schemes like PLI and business reforms, the state is actively engaging with global companies to channel foreign investment directly into Uttar Pradesh, thereby transforming it into a new epicentre of global manufacturing and trade, said the release.