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UP Expects To Sign MoUs Worth Rs 1 Lakh Cr At Investors' Summit

UP Expects To Sign MoUs Worth Rs 1 Lakh Cr At Investors Summit

Kolkata: The Uttar Pradesh government is expecting to sign MoUs worth Rs 1 lakh crore for investments during the upcoming investors' summit scheduled to be held in February, an official said here on Friday.

"The MoUs worth Rs one lakh crore of investments are expected to be signed during the summit," State Infrastructure and Industrial Development Commissioner Anup Chandra Pandey told reporters here after a road show for the investors' summit, organised in association with CII.
He said the state has come out with an overall industrial policy and 14 sectoral policies including in textiles, civil aviation, IT, MSMEs, food processing and among others.
"There are some futuristic policies that are coming in the next 15 days and these policies will be in the areas of electric vehicle, logistic and warehousing, defence manufacturing and pharmaceuticals sector," he said.
The state will shortly unveil electronic clearance system which would not require any human interface and the system will be up and running before the summit, Pandey said while addressing the potential investors in the road show here. State Industrial Development Minister Satish Mahana said the has planned to organise a global road show after the summit which will be held in Lucknow February 21-22 and will be inaugurated by Prime Minister Narendra Modi.
The state agencies has land banks of 10,000 acres which are ready for giving possession to industries, Pandey said, adding the state has come out with a policy for "private land banks" because somebody might find it cheaper to buy land in comparison to acquiring land and giving compensation. Inviting investors to join the summit, Mahana said the state has large chunks of land for large industries.
"We have large chunk of land and particularly in the side of the Yamuna Expressway we have the biggest chunk of land. By the both sides of express highways, we are in process to acquire or purchase land also on mutual understanding," he said.
Pandey said the state officials met industrialists from Kolkata and got positive response from them.
"Companies like ITC has expressed interest in setting up a food park and solar park in the state. Srei group has expressed its desire to invest in urban infrastructure," he said. The state government had organised four road shows in Delhi, Bengaluru, Mumbai and Hyderabad to attract investments and after the Kolkata one, another road show would be held in Ahmedabad.
The state is focusing on logistic sector as the dedicated freight corridors -the Western Corridor running between Delhi-Mumbai and Eastern Corridor from Amritsar to Kolkata-lie in Uttar Pradesh.
"We are planning to develop a number of industrial integrated townships across the highways and these could be linked to these highways," Pandey added.
As many as 15 airports are being developed in the state and under the regional air connectivity scheme, the state has guaranteed viability gap funding to the airlines for running flights in these routes, he said.

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