PM Modi to launch projects worth over Rs 550 billion in UP on July 29

Ambani, Adani, Birla and group of union ministers to attend high octane ceremony

Prime Minister Narendra Modi would launch projects totalling more than Rs 550 billion in a glittering ceremony on July 29 in Lucknow with the top brass of the India Inc in full attendance.

Those expected to be present at the ‘Rising UP, Powering New India’ event include Mukesh Ambani, Gautam Adani, Nandan Nilekani, Kumar Mangalam Birla, Subhash Chandra, N Chandrasekaran, CII chairman Rakesh Bharti Mittal to name some.

A total of about 1,500 industry leaders, investors, bankers, foreign delegates and a group of union ministers are expected to attend the event, which is being organised on the scale of UP Investors Summit held on 21-22 February. 

The union ministers slated to attend the ‘ground breaking’ ceremony of about 64 projects include commerce and industry minister Suresh Prabhu, defence minister Nirmala Sitharaman and electronics and information technology minister Ravi Shankar Prasad.

The projects to be started in this phase pertain to Reliance Industries, Infosys, World Trade Center, BNSL etc. According to official sources, projects worth almost Rs 1.50 trillion would be put in the works by the end of this fiscal.

Recently, UP was placed 12th in the latest ‘Ease of Doing Business’ annual rankings released by the World Bank and the Department of Industrial Policy and Promotion (DIPP). Although, UP ascended two notches from its 14th place in 2016, it nonetheless failed to reclaim the 10th spot it held in 2015.

At the Investors Summit 2018, the Yogi Adityanath government had netted investment proposals to the tune of Rs 4.68 trillion, of which the state has now prepared the necessary ground-work pertaining to projects of Rs 550 billion, which would now be put in action after their foundation is laid by the PM.

With the 2019 Lok Sabha poll only about 10 months away, the ruling Bharatiya Janata Party (BJP) has virtually unleashed ‘Brand Modi’ to underline the self-acclaimed economic and industrial development agenda of the Adityanath government. On
Saturday, Modi had laid the foundation of India’s longest Purvanchal Expressway, which is projected to cost more than Rs 230 billion. The function was held at Azamgarh, the parliamentary constituency of Samajwadi Party (SP) patriarch Mulayam Singh Yadav. It is part of a deft strategy to target the pocket boroughs of top opposition leaders.