Nearly two years after organising ‘UP Investors Summit’ in February 2018, that fetched Uttar Pradesh investment proposals worth Rs 4.68 trillion, the Yogi Adityanath government is now planning to host maiden ‘Global Investors Summit’ early next year.
The proposed ‘Global Investors Summit’ would be held on a grand scale and position Uttar Pradesh as an ideal investment destination not only in India, but globally. Chief Minister Yogi Adityanath, while reviewing the progress of the state industrial development department last evening, asked officials to start preparing for the ‘Global Investors Summit’ to be held in February 2020.
He also directed for holding the second ‘ground breaking’ ceremony for pending industrial and infrastructure projects next month.
During the two-day ‘UP Investors Summit’ in Lucknow on 21-22 February, 2018, the state had signed 1,047 memoranda of understanding (MoU) worth Rs 4.68 trillion with private and public sector companies. It was inaugurated by Prime Minister Narendra Modi in the presence of top industry captains, including Mukesh Ambani, Gautam Adani, Kumar Mangalam Birla, N Chandrasekaran, Subhash Chandra, G M Rao and Shiv Nadar.
The state also hosted delegates from Mauritius, Japan, the Netherlands, Finland, Czech Republic, Thailand and Slovakia to explore investment opportunities in the state.
Later on July 29, 2018, Modi had presided over the first ‘ground breaking’ ceremony and laid the foundation of these projects worth Rs 60,000 crore here. So far, 29 such projects totalling Rs 30,000 crore have already attained commercial production.
However, the second ‘ground breaking’ ceremony for projects worth almost Rs 80,000 crore got delayed several times due to incomplete groundwork, land acquisition woes, pending clearances and other reasons.
Meanwhile, the CM has exhorted officials to further simply processes for spurring investment and resolving issues within 7 days even as he warned against harassment of industrialists in the name of inspections. He ordered for taking action against district magistrates, who fail to settle no objection certificate (NoC) issues within the stipulated time frame.
He advised for encouraging investment in the food processing sector, especially potato based, for maximising farmers’ income. Besides, he underlined pharmaceutical, solid waste management and dairy development sectors for leveraging the investment potential available in the state.
Adityanath has asked UP Expressway Industrial Development Authority (UPEIDA) to develop industrial corridor on both sides of the proposed Gorakhpur Link Expressway.
The CM has directed for speeding up the proposed mega Bundelkhand Expressway and Ganga Expressway.
According to UP principal secretary, infrastructure and industrial development, R K Singh, the state single window system portal had received 45,000 applications, wherein NoC had been issued to nearly 77% or 34,000 applicants, while over 6,000 such cases were under consideration.
At the same time, UP Defence Corridor is projected to attract investment worth Rs 500 crore soon, he said.