UP hopes for Rs 25k-cr investment promises at today's meet

Alok Ranjan, chief secretary to the Uttar Pradesh government, said he hoped there would be investment deals worth Rs 25,000 crore signed with companies during a daylong 'chief minister's investors' summit' here on Thursday.

This comes at a time when the state government's image is tarred, with a spate of rioting and a rise in crime. The ruling Samajwadi Party had also suffered a humiliating defeat during the recent Lok Sabha elections.

Ranjan took charge very recently as chief secretary. He said the state government was going to investors with a "progressive" policy framework. "We have formulated many polices regarding information technology, agriculture, poultry and food. This is in addition to the (state's) industrial policy of 2013, amended recently to attract investors," he told journalists.

Since the amendments in February, eight companies had pledged investment worth a combined Rs 8,500 crore, he added. The government had started an investor helpline and the existing single-window clearance system made more accountable and time-bound, he said.

Around 100 representatives of various companies and ambassadors of seven countries - including Turkey, the Netherlands, the US, Canada and Germany - are expected to attend the summit.

Among UP's regions, the western part gets a lot of attraction due to proximity with Delhi. Many other parts are devoid of big industry. Ranjan admitted to a gap between demand and supply of electricity in the state but said they were hopeful of adding two 2,000-Mw power plants by 2016.

On investors withdrawing from western UP because of rising crime, the CS said the government had cleared Rs 100 crore for police modernisation in Noida. This will include four new police stations, one cyber police station, 100 vehicles and a better traffic management system. "The Senior Superintendent of Police and District Magistrate would be held accountable for any lapse in law and order," he added.

LOOKING FOR INVESTORS
n UP chief minister's investors' summit in New Delhi on Thursday
n Chief secretary said the state was going to investors with a "progressive" policy framework
n He said since February, eight companies had pledged investment of Rs 8,500 crore