UP Draws Massive Global Interest at Davos, Secures Investment Commitments Close to ₹3 Lakh Crore
The Uttar Pradesh government has emerged as one of the major investment destinations at the 56th Annual Meeting of the World Economic Forum (WEF) held in Davos, Switzerland, from January 19 to 23.
Leading the state’s delegation, Finance Minister Suresh Kumar Khanna announced on Tuesday that the state had received investment commitments amounting to nearly ₹3 lakh crore through multiple Memorandums of Understanding (MoUs).
Speaking at a press conference, Khanna shared a comprehensive overview of UP’s engagement at the global summit.
He revealed that the state delegation conducted 119 high-level meetings with around 55 to 56 prominent international corporations.
These discussions resulted in the signing of 31 MoUs spanning a wide range of sectors, including data centres, renewable and green energy, waste-to-energy projects, manufacturing, defence production, logistics, tourism, food processing, electric vehicles, pharmaceuticals, healthcare services, and artificial intelligence.
According to Khanna, the combined investment value of these agreements stands at over ₹2.92 lakh crore, marking a major milestone in the state’s industrial and economic growth efforts.
The biggest investment proposal came from Netherlands-based firm AM Green, which has committed approximately ₹2.10 lakh crore to establish an advanced AI-driven 1 gigawatt data centre in Greater Noida by 2028.
Khanna said the project is expected to play a transformative role in Uttar Pradesh’s digital infrastructure while creating extensive employment opportunities through supporting industries.
In addition, ASR Technology signed an MoU worth ₹200 crore, while global ride-hailing company Uber expressed interest in expanding its operations in the state, including the possibility of setting up a Global Capability Centre (GCC).
UP New and Renewable Energy Development Agency (UPNEDA) Director Inderjeet Singh highlighted major developments in the renewable energy sector.
He said agreements were signed for ₹1,000 crore in rooftop solar installations and battery energy storage systems, ₹1,100 crore for a hybrid electric vehicle manufacturing facility, ₹10,500 crore in solar power generation and solar module manufacturing, and ₹3,800 crore for a green manufacturing park combining solar cell module production and a solar plant.
Further strengthening the state’s green initiatives, a non-financial MoU was signed with NTPC Green Energy for collaboration in renewable power and green hydrogen projects.
REC Limited also proposed investments of around ₹8,000 crore for setting up 500 megawatts of agriculture waste-based energy projects.
In the manufacturing sector, Rashmi Metallics announced plans to invest ₹4,000 crore in a one million tonnes per annum integrated steel plant. High-level talks were also held with major corporations such as AB InBev, Godrej, Philip Morris International, and Schneider Electric to explore opportunities in smart manufacturing, Industry 4.0 technologies, and modern supply chain solutions.
Technology and innovation remained a central focus, with extensive engagements involving Google, Google Cloud, Uber, Tech Mahindra, Cisco, Deloitte, ASR Technology, Autonation Energy, and SS Technology.
These interactions revolved around artificial intelligence, data centres, digital governance, workforce skill development, mobility services, and the establishment of Global Capability Centres in the state.
In the healthcare and life sciences domain, companies such as Bayer Consumer Health and AGLT Technologies explored investment opportunities in agro-processing, pharmaceuticals, diagnostics, research and development, and life sciences.
Bayer Consumer Health also indicateda strong interest in expanding its footprint across Uttar Pradesh’s growing industrial clusters.
Khanna assured that the state government would closely track each MoU signed at Davos. A dedicated single-window facilitation team will be set up to provide end-to-end support — from regulatory approvals to project execution — ensuring swift implementation of all investment proposals.
He also shared that the WEF 2026 summit, organised under the theme “The Spirit of Dialogue,” brought together nearly 3,000 participants from more than 130 countries.
The event saw the presence of over 60 heads of state and government, along with global business leaders, policymakers, civil society members, and innovators.
From India, Union Minister for New and Renewable Energy Pralhad Joshi, Union Minister for IT and Electronics Ashwini Vaishnaw, and Union Civil Aviation Minister K. Ram Mohan Naidu represented the central government.
Uttar Pradesh was among the ten Indian states that participated actively in the global forum.
All members of the Uttar Pradesh delegation, including Infrastructure and Industrial Development Commissioner Deepak Kumar, were present during the announcement.
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