Lucknow: The Uttar Pradesh government, led by Chief Minister Yogi Adityanath, has launched an ambitious campaign to position the state as a global investment hub, leveraging the China+1 strategy to attract foreign capital. So far, the initiative has engaged over 200 international companies, aiming to diversify manufacturing and supply chains beyond China while promoting UP as a preferred investment destination.

Global companies from countries including the United States, Japan, China, France, Germany, Denmark, Spain, and Switzerland have expressed interest in investing in the state. To convert these leads into concrete investments, the government plans to establish country-specific teams and desks, working closely with Indian embassies and global institutions to strengthen investor confidence.

The state has already made notable progress under the Production Linked Incentive (PLI) scheme. Out of 574 PLI projects approved by the Government of India, 70 companies are currently operating in UP, 11 are developing new projects, and 20 have signed MoUs directly with the state government. Active follow-ups are ongoing with 473 companies to accelerate investment commitments.

Innovatively, UP has appointed account managers for 814 companies, including Fortune 500 and India Next 500 firms, spanning sectors such as shipping, telecom, petrochemicals, retail, insurance, and public sector banking. Prominent PSUs like Gujarat State Petronet and TN Newsprint are also participating, with 50 new MoUs already signed and discussions continuing with 16 new leads and 282 potential investors.

Several factors are driving this surge in investment. Strong political leadership under CM Yogi Adityanath, coupled with world-class infrastructure—including expressways, airports, and industrial corridors—makes the state attractive. Improvements in ease of doing business, such as single-window clearance systems and investor facilitation centers, further enhance UP’s appeal.

By adopting the China+1 strategy, multinational companies are looking to diversify beyond China, and UP benefits from its large domestic market, skilled and affordable workforce, and proactive government policies. Leveraging schemes like PLI and ongoing business reforms, the state is actively channeling foreign investment, positioning itself as a new epicenter of global manufacturing and trade.