CM Yogi invites DBS Bank to invest in UP's digital, green sectors

UP CM Yogi Adityanath met DBS Bank CEO Tan Su Shan in Singapore, discussing investment in digital banking, semiconductors, and green energy. DBS showed keen interest in UP's energy ecosystem, including green hydrogen, CBG, and solar power.

During his Singapore visit, Chief Minister Yogi Adityanath on Monday met with Chief Executive Officer of DBS Bank, Tan Su Shan, and her team. During the meeting, positive discussions were held on cooperation possibilities in the areas of digital banking and affordable financial services, capability development, semiconductor manufacturing, and green energy. The Chief Minister also invited the global financial institution, headquartered in Singapore, to explore investment and partnership opportunities in Uttar Pradesh.

Focus on Green Energy and Digital Transformation

DBS Bank showed special interest in the emerging energy ecosystem of Uttar Pradesh. In particular, there were positive deliberations on collaboration opportunities in green sectors such as green hydrogen, green ammonia, compressed biogas (CBG), and solar energy, as per a release.

An agreement was reached to explore possibilities for cooperation in semiconductor manufacturing, special focus on Global Capability Centres in Noida and Lucknow, affordable financial services, and digitisation of cooperative banking. Positive deliberations were held on collaboration opportunities in green sectors such as green hydrogen, green ammonia, compressed biogas, and solar energy.

In addition, discussions were held on cooperation in the electronics manufacturing sector, especially on encouraging Taiwanese companies to invest in India for semiconductor chip manufacturing. The meeting also included detailed discussions on the digitization of the cooperative banking framework.

DBS Bank expressed its willingness to support providing better and accessible financial services to farmers through the digital empowerment of cooperative banks in districts.

About DBS Bank

Established in 1968, DBS Bank's total assets amounted to approximately USD 739 billion as of December 2023. Its wholly owned subsidiary in India, DBS Bank India Limited, is operating at around 350 locations across 19 states.

Aligning Strategies for Growth

This meeting is being considered an important step towards aligning DBS Bank's India development strategy with Uttar Pradesh's digital economy, green growth goals, and investor-friendly ecosystem.

The Chief Minister made it clear that the Government of Uttar Pradesh is committed to providing every possible support to global investors through transparency, policy stability, and a swift decision-making process.

It is noteworthy that under CM Yogi's policy of promoting foreign investment in the state, Deputy CM Keshav Prasad Maurya is currently on a tour of Europe. (ANI)

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