As of December 11, 2023, reports from the media indicate that the prominent British firm Trafalgar Square Capital plans to establish defense manufacturing facilities in Ayodhya, Uttar Pradesh. The company is set to make a substantial investment of Rs 75,000 crore for this initiative.
Five major multinational corporations have expressed their interest in the state under the Foreign Direct Investment (FDI) policy. These companies comprise Taushan International Group from Hong Kong, RG Group, Austin Consulting Group, Cosis Group, Indo European Chamber of Small and Medium Enterprises, Trafalgar Square Capital Group from Britain, ABC Cleantech, and Unicorn Energy Germany.
Trafalgar Square from Britain has entered into agreements by signing five Memorandums of Understanding (MoUs), while Germany’s Unicorn Energy has signed two MoUs. The MoUs with Trafalgar Square involve the establishment of defense manufacturing units, with a committed investment of Rs 75,000 crore. This significant investment is anticipated to generate a minimum of 26,000 new employment opportunities.
Investments in the defense sector are extending beyond the designated defense corridor. A substantial investment of Rs 75,000 crore in a single district is poised to become the most significant investment in any district across the country.
Unicorn Energy from Germany is set to allocate approximately Rs 42,000 crore for two projects located in Lucknow and Jaunpur. These projects will specifically focus on the solar energy sector, contributing to the employment of around 2,200 individuals.
The GMR Group has entered into a Memorandum of Understanding (MoU) valued at Rs 40,000 crore for investment in solar energy. The specific location for this investment has not been finalized. Concurrently, the Aditya Birla Group has inked a new MoU worth Rs 25,000 crore, focusing on the textile and readymade sector.
The Hinduja Group, following the Electric Vehicle (EV) agreement with Ashok Leyland, has committed an investment of Rs 25,000 crore in the film, media, and solar energy sectors. Both companies have not yet finalized the location for these investments.
The National Thermal Power Corporation (NTPC) has entered into six Memorandums of Understanding (MoUs) in the solar power and energy sector. The corporation plans to establish plants in Jhansi, Sonbhadra, and Prayagraj, involving a total expenditure of Rs 74,000 crore.
