Uttar Pradesh betting big on investors' meet

The Uttar Pradesh government is betting big on the proposed investors’ meet in Mumbai on October 27 to showcase ‘Brand UP’ before galaxy of industry captains and top investors.

To begin with, the attendance at the meet would reflect, whether UP has been able to garner the confidence of India Inc in its ability to promise and deliver on the industrial firmament. However, the acid test of the success of the conclave titled ‘Invest UP’ would be the subsequent investment commitments made by the business houses and industrial groups being invited.

The official mandate of the event is to expedite industrial development in UP and attract private investment in various sectors. State Infrastructure and Industrial Development Commissioner (IIDC) Anoop Mishra said the interactive meet would focus on ‘detailed and direct dialogue’ with big industrial houses, in which investors would be apprised of the enormous pool of resources and avenues available for investment in the state.

“The entrepreneurs would be informed about various facilities and incentives being provided by UP to investors,” he said adding the government had been making concerted efforts to ‘improve and develop’ world-class infrastructure and congenial environment for industrial development in the state.

The government feels the conclave in the country’s commercial capital would provide an excellent opportunity to disseminate elaborative information about specific policies to promote private investment in core sectors such as expressways, townships, power transmission and distribution, transport etc.

Top industrialists and corporate groups, including Tata, Ambani brothers and Jaypee Group, are being invited to participate. Senior brass of state government officials, including the cabinet secretary, IIDC and principal secretaries of the industry-related departments are likely to play host.

Talking to Business Standard, real estate developer Halwasiya Developments CMD U S Halwasiya said, “UP should first care about industries already present in the state and give them better infrastructure of power, law and order and time bound clearances before trying to woo big investors.”