A 14-member industrialist-investor group from Singapore has put their name forward to invest in the state and has proposed setting up the “Singapore City” and high tech industrial township close to the upcoming Noida International Airport, Jetarvan (Jewar) in Uttar Pradesh.
An official statement said on 2nd Wednesday that the matter was discussed at a meeting between the Chief Minister of Uttar Pradesh Yogi Adityanath and the delegation on Tuesday. Singapore Business Federation led the delegation.
Investment Opportunities in Major Fields
The Singaporeans showed interest in investing in various industries, such as the logistics, semiconductors and data centres, green energy, and urban planning and hospitality sectors.
The proposed Singapore City/industrial township around the airport could bolster the industrial infrastructure in the region and further draw in foreign investment. The idea, however, is still just a discussion topic and subject for ongoing refinement.
Yogi Highlights Uttar Pradesh’s Economic Growth
In the meeting, Adityanath informed that nine and half years ago, the state had been included in the list of ‘BIMARU’ states, but had since transcended the ‘BIMARU’ status becoming a significant contributor to India’s economic development.
The state’s economy has tripled, and so have annual budgets and per capita income, he said.
The Chief Minister also pointed out that investment proposals should give rise to a project, industry and production and the government of the state was making every effort to achieve that.
Previous Singapore Visit
Investments of about ₹60,000 crore had already been agreed upon during Adityanath’s visit to Singapore in February, he said.
The latest engagement is the continuation of the work being done to improve the economic relationship between the Singapore investors and UP. If the proposed township is feasible, it could generate new investment and employment and economic growth possibilities in Jewar, as it is a proposed hub for industrial as well as infrastructure development.