UP lines up over ₹4.2 L cr investment commitments

ANNOUNCEMENTS GALORE Adani, Ambani, Birla, Tatas, Mahindras open purse strings to Yogi’s state, chief minister says will personally monitor progress of projects

Prime Minister Narendra Modi announced a defence industrial corridor for Uttar Pradesh at an expected investment of ₹20,000 crore during the state’s mega investor summit, which he inaugurated in Lucknow on Wednesday.

“Of the two defence corridors proposed in the Union budget, one will be set up in Uttar Pradesh,” Modi said after declaring the summit open. The project will cover parts of the backward Bundelkhand region.

Top industry leaders, for their part, promised to invest over ₹88,000 crore in the state.

Modi said that though Uttar Pradesh holds vast potential, it would require a combination of proper policy-making, hard work and a joint effort on the part of the Yogi Adityanath government and people of the state to bring about a “superhit” performance.

The chief minister assured top industry representatives that he would personally monitor the roll-out of all memorandums of understanding (MoUs) and remove bottlenecks – if any – to expedite the process of setting up industrial units in the state. “No industrialist will face any problem in setting up his unit here,” Adityanath said, adding that as many as 1,045 MoUs worth ₹4.28 lakh crore have already been signed by his government.

Modi also announced international airports at Jewar and Kushinagar, and launched the Nivesh Mitra – an entrepreneur-friendly application to enhance ease of doing business in the state – during the event. The digital portal has salient features such as a one-payment gateway that will expedite digital clearances.

Some of the companies that assured investments over the next five years were Reliance Jio (₹10,000 crore), Adani Group (₹35,000 crore), Aditya Birla

LUCKNOW:

DEFENCE INDUSTRIAL CORRIDOR ₹20,000-cr corridor covering parts of Bundelkhand expected to create 2.5 lakh jobs.

NIVESH MITRA Entrepreneur-friendly application to enhance ease of doing business in UP, with single-payment gateway to speed up digital clearances