Uttar Pradesh chief minister Yogi Adityanath said that those who once deemed investment in the state as an impossible task should now acknowledge how his government has turned that impossibility into a reality. During an event at Lok Bhavan, the chief minister distributed incentives worth Rs 1,333 crore to 32 industrial units and issued Letters of Comfort to 10 industrial units for investments totaling over Rs 4,500 crore.
The CM stated that the state has now created a favorable environment for investment, making UP “India’s dream destination for investors”. He highlighted the success of the Global Investors Summit held in February 2023, where the state received investment proposals exceeding Rs 40 lakh crore. “Of this, proposals worth over Rs 10 lakh crore have already been realised through the ground breaking ceremony,” he added.
The CM highlighted the significant improvements in UP pointing out that the state has made strides in both ease of doing business and ease of living. He also detailed the implementation of 27 sectoral policies in Uttar Pradesh, developed with input from stakeholders.
The chief minister stated the deployment of 125 CM Fellows across the state to address issues faced by entrepreneurs, working in collaboration with the Industrial Development Department. “Our government has no hesitation in implementing the commitments it has made to investors. Under the policy of governance, the double engine government will break all barriers to provide convenience to investors,” he said.
He highlighted that Uttar Pradesh is positioned as a growth engine for India’s development.CM Yogi said that if industry and institutions join hands, then an excellent platform for skill development is created. He encouraged entrepreneurs to leverage these connections to access skilled manpower. He also mentioned that under the PM and CM Incentive Scheme, the government will provide half of the honorarium to youth engaged in skill development.
Yogi Adityanath also discussed the progress on establishing the new industrial city of BIDA between Jhansi and Kanpur, spanning 36,000 acres. He mentioned the construction of an international airport in Jewar and promised similar facilities in BIDA once the city is established.
Further, the CM noted that the State Capital Region is being developed by connecting Lucknow with six surrounding districts. He emphasised that electricity is now available across all 75 districts of UP without discrimination, and industries have been granted open access to energy, including renewable sources. Over the past seven and a half years, he said, the state has seen significant improvements in infrastructure, particularly in expressway, highway and air connectivity.
Top industrial groups from India and around the world have praised the UP government, recognising Uttar Pradesh as a premier investment destination. Notably, officials from Samsung, JK Group, Birla Corporation, Gallantt, HCL, and Hinduja Group have announced plans to invest in the state. Samsung has committed to enhancing the skills of Uttar Pradesh’s youth through its CSR initiatives. JK Cement plans to invest an additional Rs 1,500 crore, with Rs 500 crore earmarked for the medical sector and Rs 1,000 crore for R&D, education, and new building materials.
Meanwhile, chief minister Yogi Adityanath highlighted the transformative impact of e-commerce platforms, describing them as a catalyst for a new era of opportunities. He emphasised how these platforms are fostering healthy competition and empowering citizens in both urban and rural areas to reach global markets.
During the virtual inauguration of Flipkart’s new warehouses in Unnao and Varanasi, the CM stated, “We focused on enhancing packaging and export capabilities by leveraging design, technology, and market access. However, the momentum truly picked up when Flipkart Group joined us.”
He underscored the transformative role of technology in expanding market access, stating that what once seemed an impossible challenge—delivering products to global markets—has now been made possible, thanks to technological advancements.
CM Yogi further highlighted the job creation potential of these facilities, noting that the presence of such warehouses ensures the provision of quality services, thereby meeting customer expectations and curbing black marketing by breaking monopolies. He also stressed that these developments foster healthy competition, open doors to numerous opportunities, reduce the risk of fraud, and enhance market fairness.
From: financialexpress
Financial News
