Even as Uttar Pradesh targets 10 per cent growth during the 12th Plan (2012-17), the Confederation of Indian Industry (CII) has offered to partner the state government in promoting ‘Brand UP’.
CII wants to work closely with the state in not only promoting ‘Brand UP’ but boosting segments like power, renewable energy, sugar, health, infrastructure, etc. The new state regime is busy formulating new policies in all key sectors.
The confederation will form sub-groups to focus on major sectors, who will submit their report in the next three months outlining specific needs of the sectors and making recommendations.
Meanwhile, a delegation led by CII northern region chairman and Fortis Healthcare Limited executive chairman Malvinder Mohan Singh on Monday met UP chief minister Akhilesh Yadav and senior bureaucrats here.
Singh described the meeting as “productive” and said the government was keen on bringing more investment to the state. “We would be happy to work with the UP government in attracting domestic and foreign investments,” he told the media.
The delegation impressed upon Yadav the need for constituting a consultative group between CII and UP.
“UP is a big state and the opportunities of growth are unlimited. It would be incumbent upon the state government and the various stakeholders how much they can leverage for economic gains,” Singh said replying to a Business Standard query.
CII is also supportive of a major push to the beleaguered Micro, Small and Medium Enterprises (MSME) sector in UP. Nationally, MSME sector accounts for 45 per cent of the manufacturing, nine per cent of Gross Domestic Product (GDP), 40 per cent of exports, employing 56 million people in 26 million enterprises.
UP is home to over three million MSMEs. Some of the CII suggestions pertaining to the sector, included public and mandatory procurement for MSMEs, labour reforms, institution of SME exchange for easy capital access, separate Basel II norms, common facility (such as dry ports) etc.
CII also emphasised public private partnership (PPP) in sectors such as infrastructure and health. CII has proposed Skill Development Centre for UP and sought the government support for commissioning a Skill Mapping Study.
Land is an important factor of production and availability of land plays an instrumental role in determining the inflow of industrial investments. In this backdrop, CII has advocated for the creation of Land Bank Development Corporation at the state level.