MoUs worth ₹1.5 lakh crore were signed during the successful Singapore-Japan tour of Chief Minister Yogi Adityanath. The target is to make UP a 1 trillion dollar economy by investing in sectors like auto, semiconductor and green hydrogen.
Singapore/Tokyo/Lucknow. Uttar Pradesh Chief Minister Yogi Adityanath’s visit to Singapore and Japan was very successful in terms of investment, technology and global partnership. A total of MoUs worth ₹1.5 lakh crore were signed during the investment dialogues held in both the countries, while investment proposals worth ₹2.5 lakh crore were received. This achievement is being considered an important step towards the goal of making Uttar Pradesh a one trillion dollar economy by the year 2029-30.
Japan Investment Dialogue: Big partnership in auto, semiconductor and green hydrogen
Agreements were signed with many big companies during investment meetings held in Japan. Major companies with which MoUs were signed include Kubota Corporation, Spark Minda (in collaboration with Toyo Denso), Japan Aviation Electronics Industry and Nagase & Co., Ltd. The B2G meetings were attended by leading companies such as Suzuki Motor Corporation, Honda Cars India, Konoike Transport, Mitsui & Co., Rapidus Corporation, Marubeni Corporation, Sumitomo Realty & Development and MUFG Bank. The focus of these investment proposals was on sectors like agriculture machinery, auto OEM and components, auto R&D, semiconductor, data centres, green hydrogen, power-to-gas, compressed bio gas, ESDM, logistics and warehousing.
Green Hydrogen Center of Excellence: New Initiative in Green Energy
During the visit to Japan, it was announced to set up a Green Hydrogen Center of Excellence to strengthen green energy cooperation. This initiative will be taken forward in collaboration with University of Yamanashi, Yamanashi Hydrogen Company, IIT Kanpur, Harcourt Butler Technical University, IIT BHU and Madan Mohan Malviya University of Technology. This will give new impetus to clean energy research and technological development in Uttar Pradesh.
‘Japan City’ and auto cluster development on Yamuna Expressway
‘Japan City’ will be developed on 500 acres in Yamuna Expressway Industrial Development Authority (YEIDA) area. A special industrial environment will be created here for Japanese companies. Additionally, dedicated auto clusters and R&D facilities will also be set up for auto OEMs and component manufacturers. Japan Desk will be further strengthened in ‘Invest UP’, which will be directly monitored by the Chief Minister’s Office. Japan will also promote technology transfer, skill development, joint ventures and supply chain integration in the MSME sector of Uttar Pradesh.
Maglev train experience and FANUC robotics plant inspection
The Chief Minister visited the AlZero Series Maglev Train Station and experienced the advanced transportation technology by traveling in the high-speed train. During this, there was a positive discussion on the possibilities of technical cooperation. Additionally he supervised FANUC Corporation’s industrial robot and factory automation plants. The company expressed its desire to contribute in investment and technological upgradation of MSME sector in Uttar Pradesh.
Cooperation in tourism, Buddhist circuit and skill development
An agreement was reached between Uttar Pradesh and Japan to promote tourism. Spiritual and cultural tourism will be developed by connecting the Buddhist circuit and Ramayana circuit. This will create new investment opportunities in hospitality, infrastructure and service sectors. Also, a globally competitive workforce will be prepared by running language and technical training programs according to the needs of Japanese industries.
Singapore Investment Roadshow: Focus on MRO, Semiconductor and Data Centers
The Investor Roadshow held in Singapore was also very successful. Cooperation was agreed upon in areas like MRO, cargo hub, semiconductor, data centre, logistics, skilling and fintech. The Chief Minister gave a new direction to industrial and technical cooperation by meeting the top leadership of Singapore. In particular, there was positive discussion on developing Noida International Airport at Jewar as an MRO and cargo hub.
Decisive step towards one trillion dollar economy
This foreign tour made it clear that Uttar Pradesh has made a strong mark on the global investment map. Investor confidence has increased due to better law and order, transparent policies and strong infrastructure. MoUs worth ₹1.5 lakh crore and investment proposals worth ₹2.5 lakh crore are proof that Uttar Pradesh is now moving rapidly towards the goal of one trillion dollar economy.