UP government to revamp Invest UP with new structure, chasing cell and metro offices

The Uttar Pradesh government is gearing up for a significant overhaul of its investment promotion and facilitation agency, Invest UP, following recent controversies that brought the agency under scrutiny.

In response to allegations involving a senior official, the government took swift action by suspending the then CEO of Invest UP, Abhishek Prakash. Emphasizing transparency and efficiency, the state has now committed to transforming Invest UP into a model agency to streamline the investor experience and remove obstacles in setting up business units across Uttar Pradesh.

Invest UP, established in August 2020 as a successor to Udyog Bandhu, was designed to connect with investors and address their concerns. Since then, it has functioned as the nodal agency driving the state’s efforts to boost investments and achieve its goal of becoming a trillion-dollar economy.

Chief Minister Yogi Adityanath chaired a high-level meeting on Tuesday to discuss the roadmap for revamping the agency. The plan includes expanding the team of top executives and operational staff, as well as establishing new offices in strategic locations—Delhi, Mumbai, and Bengaluru.

A key highlight of the revamp is the creation of an "industry chasing cell" that will serve as a single-window system for mega investment projects. This unit will act as the primary liaison for investors, assisting them with project approvals, promotions, land allocation, site visits, DPRs (Detailed Project Reports), financial support, and access to skilled manpower.

The government sees the need for a dedicated Invest UP office in New Delhi to enhance coordination with the Union government, trade bodies, and foreign embassies. The Mumbai office is expected to strengthen links with financial institutions, multinational corporations, and private equity firms. Meanwhile, the Bengaluru office would focus on collaborations with tech companies, R&D centers, and startups.

Officials suggest that the new structure for Invest UP will be modeled after successful national and international agencies, including Gujarat’s iNDEXTb, Andhra Pradesh’s APEDB, and international counterparts in Taiwan, South Korea, Japan, and the United States. Additionally, they noted that Invest India has recently launched its first overseas office in Singapore, setting a precedent for global outreach.