Investment summits in Uttar Pradesh: Local focus to pave the way for big gains - Hindustan Times
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Investment summits in Uttar Pradesh: Local focus to pave the way for big gains

By, Lucknow
Feb 04, 2023 12:51 AM IST

Uttar Pradesh government reaches out to investors by holding summits in the districts to propel the state’s economy

Local entrepreneurs across the state are upbeat as the Yogi Adityanath government is focusing even on small towns and districts as evident from investors’ summits held at the district level across the state for the first time.

Model of a fighter jet made from waste material installed at Samajik Parivartan crossing ahead of the summit to be held in Lucknow. (DEEPAK GUPTA/HT PHOTO)
Model of a fighter jet made from waste material installed at Samajik Parivartan crossing ahead of the summit to be held in Lucknow. (DEEPAK GUPTA/HT PHOTO)

The move is already yielding rich dividends. The government has received 3000 investment proposals of over ?4 lakh crore from more than 57 districts across the state.

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The complete figure of investment from 75 districts is much bigger, said Ashok Agarwal, national president, Indian Industries Association (IIA).

The success of the first such investors’ summit in Barabanki district adjoining Lucknow encouraged the state government to roll out such events across the state in the run-up to the Global Investors’ Summit 2023.

Undoubtedly, the idea of mobilising entrepreneurs at the local level for investment was innovative.

From Shahjahanpur to Shamli, Barabanki to Badaun and Azamgarh in eastern Uttar Pradesh, local entrepreneurs across the state are enthused by the innovative idea and the changed scenario.

Nikhil Airan from Shamli district in western Uttar Pradesh is investing ?5 crore to set up a printing and packaging unit.

“Owing to improved law and order scenario, now people are willing to set up units even in Shamli and its adjoining areas,” said Airan.

“I will print labels for match boxes and will manufacture corrugated boxes,” said Airan.

About 40 km from Lucknow in the adjoining Barabanki district, Punit Arora is investing ?40 crore in integrated mushroom cultivation and bio-fertiliser farm.

“We never thought that the government will lay so much emphasis on investment in small towns,” said Arora.

“This policy will ensure uniform industrialisation and development across the state,” Arora added.

Ravi Goel of Shahjahanpur district in Bareilly division has pledged to invest ?20 crore in a food processing unit to produce glucose.

“The state government is reaching out to small investors in small districts. Investors’ summit in a small district like Shahjahanpur will definitely give an impetus to local business,” Goel said.

Prime Minister Narendra Modi is expected to inaugurate the three-day mega event on February 10 in the state capital.

President Droupadi Murmu is likely to be the chief guest at the closing ceremony on February 12.

Prayagraj district has received 800 investment proposals of over ?33703 crore. Lucknow has received 262 proposals worth ?56299 crore.

These investments will propel the local economy of the districts by generating employment opportunities for youths directly and indirectly.

In the state capital, real estate, hospital, hospitality and MSMEs are major sectors in which entrepreneurs are willing to invest.

Vivek Srivastava, owner of Krishna Raj Enterprises, is planning to set up a unit to manufacture aluminum wires that are used in transformers.

“We are already into this industry for 20 years and want to strengthen it further. We intend to invest more than ?5 cr in this project,” he said.

Prominent developer Khalid Masood of Shalimar Corp, said: “Shalimar Corp will invest ?2032 crore in several projects like clubs, schools, residential projects and commercial hubs.”

JHANSI OUTPERFORMS OTHERS

Surprisingly, Jhansi district of the Bundelkhand region has emerged as top destination for investors.

In investors’ summit organised at the district-level, Jhansi has so far outperformed other districts in terms of total investment.

It has received 146 proposals of ?1,11,610.90 crore. Out of this, MoUs have been signed for investment of ?65,000 crore.

Among these MoUs, ?50,000 crore have been signed in the energy sector.

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  • ABOUT THE AUTHOR
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    Pawan Dixit has been a journalist for over a decade. He has extensively covered eastern UP for around five years, covered 2012 UP assembly polls, 2014 Lok Sabha polls while being stationed in Varanasi. Now, in Lucknow, he covers outstation political assignments, reports special cases from district court, high court and state information commission

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