UP in new avatar seeks investments SELLING BRAND UP

The Bharatiya Janata Party-led Uttar Pradesh government plans to open its doors to infrastructure majors, revamp its industrial policy, hold an investment summit and improve its ease of doing business ranking.

The state was also planning singlewindow facilitation for industry, sources said.

“There have been discussions between Satish Mahana, Uttar Pradesh’s minister of industrial development, and Dinesh Sharma, the state’s deputy chief minister, over a consultative process for a new industrial policy. Chief Minister Yogi Adityanath (pictured) also met industry representatives and assured them that the new government would work towards industrial betterment,” said an industry executive based in Lucknow.

Sources in the state government said the new policy would aim at building trust. “Safety and convenience for industrialists are the pivots of this new policy. Single-window facilitation will resolve many grievances companies had about previous governments in the state,” an official said. The state is also trying to improve its rank in Ease of Doing Business. “Weeding out middlemen, reducing paperwork, digitisation of processes involved in acquiring approvals, and registration of companies are being discussed,” said a member of an industry chamber.

Uttar Pradesh slipped to 14th position in 2016 in the central government’s Ease of Doing Business rankings from 10th place in 2015. The state was, however, mentioned among “aspiring leaders” to indicate investment and business potential. The state government is | | | | | | Uttar Pradesh government plans to open its doors to infrastructure majors Udyog Neeti; the new industrial policy would aim at building trust among the industry Plans single-window facilitation for several sectors The state is also trying to improve its rank in ease of doing business UP slipped to 14th position in 2016 in the central government’s Ease of Doing Business rankings from 10th place in 2015 The state is planning to hold an investment summit in six months also planning an investment summit on the lines of Vibrant Gujarat, which many other states undertook after the BJP came to power at the Centre. Sources said one round of meetings with potential investors had taken place and another was expected shortly. “We are planning to hold the summit in six months. We will invite Prime Minister Narendra Modi to inaugurate it,” an official said.

According to sources, the UP government also plans to seek help from the Gujarat government that has organised Vibrant Gujarat Summits every two years since 2003. The last edition of the Gujarat summit was held in January 2017. Some industry executives are, however, wary. “Uttar Pradesh has a history of souring investments. Be it the Jaypee projects or industry in Kanpur, they succumbed to political favouritism. It is too early to plan huge investments in the state,” said an executive with an infrastructure company.

Ministers in the Uttar Pradesh government have met infrastructure company bosses to allay their fears and prepare the ground for the investment summit. This isn’t the first investment summit in Uttar Pradesh. However, this would be the first occasion that the prime minister of the day will be attending a UP investment summit.

One of the earliest was organised by the then Narayan Dutt Tiwariled Congress government in the state in 1989.