Chief Minister Yogi Adityanath met DBS Bank CEO Tan Soo Shan during his visit to Singapore. Cooperation in digital banking, green hydrogen, green ammonia, solar energy and semiconductor manufacturing was discussed. Consensus was also reached on digitalization of cooperative banks.
Singapore/Lucknow. Chief Minister Yogi Adityanath held an important meeting with DBS Bank Chief Executive Officer Tan Su Shan and her team during his visit to Singapore. In this meeting, possibilities of cooperation in areas like digital banking, affordable and accessible financial services, capability development, semiconductor manufacturing and green energy were discussed positively. The Chief Minister invited the Singapore-headquartered global bank to study investment and partnership opportunities in Uttar Pradesh. He said that the state government is ready to provide all possible support to the investors.
Green Energy Investment: Interest in green hydrogen, green ammonia and solar energy
During the meeting, DBS Bank showed special interest in the rapidly developing energy sector of Uttar Pradesh. Especially the possibilities of investment and cooperation in green sectors like Green Hydrogen, Green Ammonia, Compressed Biogas (CBG) and Solar Energy were discussed in detail. This initiative is considered important towards strengthening the green development goals of Uttar Pradesh and promoting clean energy.
Semiconductor Manufacturing: Opportunities in Electronics and Chip Manufacturing
Cooperation in the field of electronics manufacturing and semiconductor chip manufacturing was also discussed in the meeting. In particular, the possibility of encouraging Taiwanese companies to invest in India was discussed. If this cooperation goes ahead, Uttar Pradesh can play a bigger role in the country’s semiconductor and electronics manufacturing sector.
Cooperative Bank Digitization: Digital banking facility for farmers
Digitization of the cooperative banking system was also discussed in detail. DBS Bank expressed its desire to cooperate in digitally strengthening the cooperative banks in the districts. With this initiative, farmers will be able to get better, faster and accessible financial services. Digital empowerment will also strengthen the rural economy.
DBS Bank Profile: $739 billion assets, over 350 locations in India
DBS Bank, established in 1968, had total assets of approximately US$739 billion as of December 2023. In India, its wholly owned subsidiary DBS Bank India Limited operates in approximately 350 locations across 19 states.
UP Foreign Investment Push: Strategy to attract global investors
This meeting is being considered an important step towards linking Uttar Pradesh’s digital economy, green development goals and investment friendly environment with DBS Bank’s India development strategy. Chief Minister Yogi Adityanath made it clear that the state government will provide full support to global investors through transparency, policy stability and quick decision process. It is noteworthy that under the policy of promoting foreign investment in the state, Deputy CM Keshav Prasad Maurya is currently on a tour of Europe.