NEW DELHI: With the intention to lure investors in UP and counter Narendra Modi development buzz, the UP government on Thursday organized investor conclave in Delhi. Twenty Memoranda of Understanding worth around Rs 54,606 crore were signed by 23 companies in the inaugural session.
Essel group, Reliance Jio, GAIL, HFCL, ITC, Amity, Fortis, Uflex, Sonalika are the major group, which signed MoU in the event.
Essel group has come up with major investment plans of Rs 20,000 crore. The group aimed multi-sector proposition such as in urban development, power distribution, solar transmission etc while Mathura refinery has signed MoU to put in Rs 8000 crore in UP. Apart from that Reliance Jio has signed MoU to invest Rs five thousand crore for implementation of 4G network and ITC is planning to invest Rs 2100 crore in multiple sectors.
( Uttar Pradesh chief minister, Akhilesh Yadav with chief secretary Alok Ranjan during Investors' Conclave, organized by the state, in New Delhi on Thursday. PTI Photo)
Following signing of MoUs', the CM interacted with marquee investors on one-to-one basis. That was followed by the similar sessions by chief secretary and principal secretaries of departments concerned. Apart from that Bharti group vice chairman and managing director Rajan Bharti Mittal also had a meeting with the UP CM Akhilesh Yadav to discuss the issues.
Diplomats of six countries, including Canada, Netherlands, Turkey, Poland, Italy, Taipei also attended the conclave and held discussions with chief minister for exploring investment possibilities in Uttar Pradesh.
UP chief secretary Alok Ranjan told TOI that 150 global and Indian investors with diplomats attended the conclave.
An optimitic Ranjan said that a lot is happening in UP. "Our focus is not only be on western part of UP but eastern and central part of UP also focused in the event to ensure the development of these regions also. Players from IT, manufacturing, food processing etc attended the function and explore the possibilities of investment in UP," Ranjan said.
Investors also welcomed the government move. Rajan Bharti Mittal told TOI that the Bharti group is exploring expansion plans in UP. "We are planning expansion in UP especially in retail segment. Talks are on with the government. The government has to ensure quality delivery in power, infrastructure and law and order," Mittal said.
Alphonsus Stoelinga, ambassador of the Netherlands to India told TOI that UP has great potential. "We are looking for expansion and tie ups in food processing and cold storage sector with the UP government."
"I am willing to spare as much time for facilitating industrial and infrastructure investment in Uttar Pradesh as possible for enabling holistic development of the state. Uttar Pradesh's doors are open for the business fraternity. It is my endeavour to establish direct dialogue with investors", said Akhilesh Yadav, CM, UP in his speech.
"I believe that doubling the speed will automatically triple the economy, that's why state government is building a 6-lane Agra-Lucknow expressway to connect the state capital with national capital through linking it to Yamuna Expressway," Yadav said that apart from being a front runner in production of milk, potato and wheat, UP was a leading state in power co-generation, sugar production and skill development. "We launched UP skill development mission recently and within six months more than 40 lakh youth were mobilized," he added. Yadav also ensure the entrepreneurs of quality power supply. Akhilesh Yadav said that it was crucial to get coal linkages for power generation projects already proposed.
Ranjan elucidated in detail about various incentives and procedural reforms undertaken by UP government for improving ease of doing business in the state. He informed that new policies will soon be announced for the promotion of electronics and handicrafts in the state. Ranjan also dwelled on various upcoming and proposed infrastructure projects, including Delhi-Mumbai Industrial Corridor, Amritsar-Kolkata Industrial Corridor, Metro rail in Lucknow and Noida, two new international airports at Kushinagar and Agra.
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