UP Investors Summit: State Bags Mega Investments Worth Rs 4.28 Lakh Crore

Uttar Pradesh is hosting its first investor summit in Lucknow and it has been in news for all the right reasons. From attracting investment to signing memorandum of understanding (MOUs), the state has managed to attract investments worth Rs 4.28 lakh crore.

Here are the highlights of the event:

*Around 1,045 pacts have been signed on the first day of the summit. CEOs and leaders of top Indian companies are participating in the summit, including Reliance Group, Adani limited and Birla Group.

*More than 5,000 delegates are attending the two-day summit and over 100 speakers will be addressing the gathering. There are total 30 sessions scheduled for two days, during which representatives from Mauritius, Japan, The Netherlands, Finland, Czech Republic, Thailand and Slovakia will also be participating.

*To promote investment in the state, businesses will be given approvals and licences under one roof. The state is soon going to implement digital clearances which will be monitored by the CM Office.

*The state would also ensure meeting basic needs for investments such as law and order, infrastructure, power and roads and an administrative setup which will be transparent and accountable.

*Prime Minister Narendra Modi announced a mega defence industrial corridor in the Bundelkhand region, one of the most backward regions of the state, at an investment of Rs 20,000 crore. The corridor will generate jobs for 2.5 lakh people. Apart from this, PM Modi also announced international airports at Jewar and Kushinagar, which are already in the pipeline.

*Reliance Industries chief Mukesh Ambani has announced Rs 10,000 crore investment in the state through his telecom brand Jio. This would be over and above the Rs 20,000 crore Jio has already invested in the state in rolling out high-speed 4G telecom venture.

*Anand Mahindra has signed an MoU of Rs 2,000 crore between Club Mahindra and Uttar Pradesh and would also set up an electric vehicle plant.

*The Aditya Birla Group has announced an investment of Rs 25,000 crore over the next five years. The group will invest in areas such as finance, cement and chemicals among others. Currently, the group is working in 400 villages under the corporate social responsibility.

*A pact worth Rs 300 crore has been signed for setting up a five-star hotel in the Amausi industrial area.

*The Essel group has also announced to invest Rs 18,000 crore in the state in the period of five years.

*Public enterprises such as Tehri Hydro Development Corporation, Bharat Heavy Electrical Limited, Mathura Refinery-Expansion, Delhi-Mumbai Industrial Corridor, Indian Oil Corporation and Gas Authority of India have also announced investments worth Rs 40,000 crore.