UP govt to implement investment proposals worth Rs 7.5 lakh crore which include over 10,000 projects
Dec 10, 2023
Lucknow (Uttar Pradesh) [India], December 10 : Following the successful implementation of investment proposals received during the UP Investors Summit in 2018, the Yogi government is now actively working to launch the proposals received during the Global Investors Summit in 2023.
"In this sequence, 10,441 projects worth about Rs 7.5 lakh crore are in the final stages of implementation," as per a press release from the Chief Minister's office.
Notably, Uttar Pradesh has been an investment hotspot, attracting around Rs 4.12 lakh crore from diverse sources between 2017 and 2022.
Taking a leap forward, from 2022 till now, the state government has attracted 29,000 investment proposals worth more than Rs 39.5 lakh crore on the Nivesh Sarathi portal.
"It is worth noting that Uttar Pradesh is emerging as a major investment destination for investors from across the country and around the world. Since Chief Minister Yogi Adityanath assumed office in 2017, his focus has been on improving law and order in the state and create conducive environment for investment," the release stated.
The Yogi government has received positive responses whenever it has encouraged investors through investor summits to invest in their ventures in Uttar Pradesh.
"The state government not only accepted investment proposals but also demonstrated its commitment to bringing them to fruition. In 2023, the Yogi government organised the Global Investors Summit to attract investment to the state, in which both domestic and foreign investors have signed MoUs worth crores with the Yogi government," as per the release.
Now, the Yogi government is actively working to bring these investment proposals to the ground. While several projects have already started work on the ground, many others are currently in the final stages of the implementation. They will soon be launched on the ground through Ground Breaking Ceremony.
"The Yogi government had received 1045 investment proposals worth Rs 4.28 lakh crore in the UP Investors Summit (UPIS) held in 2018. To implement these proposals on the ground, the government organised three Ground Breaking Ceremonies in the state," the release stated.
The first GBC, held in 2018, marked the initiation of 81 projects with an investment of approximately Rs 61,000 crore. Subsequently, in 2019, the second GBC commenced over 250 projects with an investment of Rs 65,000 crore. Through the third GBC in 2022, more than 1400 projects with an investment of Rs 80,000 crore were set in motion.
"During these ceremonies, assurances were given to investors, and support was provided to establish various facilities and projects. Additionally, as per the status of the Industrial Entrepreneurs Memorandum (IEM) Part-2 between 2017-22, 227 projects with an investment of Rs 43,700 crores have been implemented," as per the release.
"Besides, industrial development authorities have initiated investments of around Rs 95,500 crore through other land allocations. In the financial years 2017 to 2022, approximately 5.20 lakh Micro, Small and Medium Enterprises (MSME) units have been established in UP, attracting an investment of Rs 67,600 crores," the release stated.
