UP eyes Rs 25k-cr MoUs at investors' meet

Summit to showcase UP as land of opportunities & investment on June 12

The Akhilesh Yadav government is eyeing signing Memorandum of Understanding (MoUs) worth Rs 25,000 crore at the Investors’ conclave to be hosted in New Delhi on June 12.

The government is holding the summit to reach out to industry and showcase UP as the land of business opportunities and investment.

Some top names in India Inc and MNCs, including Essel, ITC, Fortis, Amity, Sonalika, Shree Cement, Cisco, IBM, Philips, Coca Cola, Pepsi Co, Intel, etc, have confirmed their participation.

Besides, ambassadors of Canada, Germany, Italy, Taiwan, Turkey, Czech Republic and Netherlands are likely to come.

Yadav would himself play host to industrialists, investors and ambassadors and later hold one-to-one discussions with them in the quest for investment.

“The industries department is sanguine that MoUs worth Rs 40,000 crore could be signed at the conclave. However, I am giving a conservative figure of Rs 25,000 crore now,” state chief secretary Alok Ranjan told a packed news conference here this evening.

On the power and law and order situation in UP, he said the government was committed to providing congenial business environment to industry.

“Power and law and order are the priorities of the state government. We would assure the industry about 24 hour power supply and dispel insecurities in the mind of prospective investors and business leaders,” he noted.

The government would primarily be showcasing food processing, energy, electronics, agriculture, housing, etc before investors as sectors with maximum investment potential.

The delegations would include American Chambers of Commerce in India (AMCHAM), Taiwan Chambers, Indo-Italian Chambers besides Confederation of Indian Industry (CII).

Similar investment summits organised in the past have fetched very little investment to the state.