Global Investors Summit 2023: Aditya Birla Group commits Rs 25,000 crore investment in UP

Global Investors Summit 2023: Aditya Birla Group on Friday committed Rs 25,000 crore investment across its various businesses in Uttar Pradesh. Speaking at Global Investors Summit here, Kumar Mangalam Birla said the investment would go into various businesses like cement, metals, chemicals, financial services and renewable energy.

The Mumbai-based group's seven businesses have a significant presence in Uttar Pradesh, anchored by over 30,000 employees with an overall investment of Rs 40,000 crore, he noted.

When it comes to building new-age infrastructure or providing efficient governance Uttar Pradesh is creating an example for other states to follow, Birla said.

In the process, it is creating immense opportunities for investors, both in India and abroad, he added.

Click Here For Latest Updates On Stock Market | Zee Business Live

"As an early investor in the industrial journey of the state, we feel enthused by the rapid progress that the state is making. Today, the state can rightly be considered one of the key states driving India's journey towards a USD 5 trillion economy. And therefore, we are committing further investments to the tune of Rs 25,000 crore across our businesses, cement, metals, chemicals, financial services and renewable energy," Birla said.

Investors are already taking note of the changing face of Uttar Pradesh as over the last three years ending September 2022, the state has attracted FDI worth USD 1.1 billion, he noted.

Birla said the state was earlier a laggard in industrial development, despite having a large consumption base.

"That picture is slowly and dramatically changing. Thanks to a pragmatic and industry-friendly administration and rapid pace of infrastructure development," he stated.

The scale of the project and the pace of implementation here are remarkable, Birla said.

"The highway projects crisscross the length and breadth of the state, the metro rail projects or the new airports, the state is upgrading its infrastructure in a transformative way," he said.

The government has also made significant strides in terms of ease of doing business, Birla stated.

He also noted that as a global business group, the Aditya Birla Group operates in 36 countries and he can confidently say that India today stands out amongst all of them.

There is perhaps no other country in the world that combines robust democracy, transformational governance, economic mind, demographic dynamism and entrepreneurial energy from renewables to digital governance and space tech to agri innovation, Birla said.

"It is heartening for me to see as an investor Uttar Pradesh undergo a metamorphosis in the last few years under the leadership of Chief Minister Yogi Adityanath and under the guidance of Honourable Prime Minister Shri Narendra Modi ji," he added.

Also, read- Stocks to buy: Hindalco, Voltas, Zomato, Devyani, Lupin, HAL