Singapore

Sumit Nanda, Chairman and Managing Director of Golden State Capital Pte. Ltd., has lauded the industrial turnaround of Uttar Pradesh, announcing a massive investment of Rs 12,000 crore in the state following a meeting with Chief Minister Yogi Adityanath.

Speaking to ANI in Singapore, Nanda emphasised that Singapore remains the primary gateway for foreign capital into India. "If you look at the data from the last 10 years, Singapore is the largest investor in India, and all foreign investment comes through Singapore. Singapore has been the number one investor," Nanda stated.

Nanda detailed his company's commitment to the state's growing infrastructure, revealing two major upcoming projects.

"We are setting up a data centre, with an investment of approximately 8,000 crore rupees. Additionally, we are also pursuing a renewable energy project, with an investment of approximately 4,000 crore rupees," he said.

He further noted that the decision to invest was driven by the state's improved governance and market potential. "Uttar Pradesh has the largest population and largest market in India, and law and order have improved significantly there. The Chief Minister has completely transformed the state," Nanda added.

The Golden State Capital chief highlighted that the shift in the state's image has not gone unnoticed by the international community. "Foreign investors are also very attracted to Uttar Pradesh, both to them [the leadership] and to the Uttar Pradesh market. We are very eager to further invest in the state of Uttar Pradesh," he remarked.

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Earlier, the UP CM met Sumit Nanda, along with his team, in Singapore. They discussed investment prospects in infrastructure, emerging technologies and strategic growth sectors in Uttar Pradesh, including opportunities in data centre development and other priority investment corridors where Golden State Capital has previously expressed commitment to invest.

The meeting took place as part of Chief Minister Yogi Adityanath's four-day diplomatic and industrial tour of Singapore and Japan. The visit is designed to showcase "Brand UP" and secure global partnerships to propel the state toward its USD 1 trillion economy goal.