In its brand new avatar, Uttar Pradesh, also known as the holy birthplace of Sri Ram and Sri Krishna, is attracting top business houses of India and the world to invest generously. That is beyond any debate as from Mukesh Ambani to Kumar Manglam Birla, and from N Chandrasekhar of Tata group to Daniel Bircher, CEO of Zurich Airport Asia, and other top names of corporate world were there in Lucknow recently during the Uttar Pradesh Global Investors Summit 2023 to announce their willingness to invest huge amount of money in the State.
The investment proposals, when implemented, would lead to the generation of 92.50 lakhs (9.25 million) in job opportunities, Chief Minister Yogi Adityanath said at the UP Global Investors Summit. With the Uttar Pradesh Global Investors Summit-2023 attracting investment proposals worth Rs 32.92 lakh crore, the State Government has achieved nearly double the revised target of Rs 17.3 lakh crore and more than three times the initial target of Rs 10 lakh crore for the event. In all, the 18645 Memorandums of understanding (MoUs) have been signed. These include investment proposals of Rs 4.28 lakh crore received for the Bundelkhand region and Rs 9.55 lakh crore for eastern Uttar Pradesh.
If we look back, Uttar Pradesh received investment intents of Rs4.68 crore in 2018, of which Rs 4 lakh crore investment has started on the ground. Uttar Pradesh tops in the country in terms of launching investment proposals on the ground (after they were) received during investor summits. Uttar Pradesh has formulated its new industrial policy. To attract investment, the State has amended the old policy. The State is giving capital subsidies to entrepreneurs. The problem traders face due to GST (Goods and Services Tax) has also been addressed. They can opt for capital subsidy or GST. The best practices of industrial policies of various states have been included in our policy.
How is Uttar Pradesh transforming from a BIMARU State to an investment hub? Experts say that few businessmen wished to invest in Uttar Pradesh earlier, but the scenario is changing fast.
Under the guidance of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, the golden period of Uttar Pradesh has started. Today, India is the destination for investors from across the globe. And, in India, Uttar Pradesh has emerged as the prime destination for investment.
A large investment has been made in the infrastructure sector. Before the BJP came to power, there were two airports in the State. The BJP Government has activated nine airports. The work on new airports is continuing. Soon, the State will have 21 airports for domestic flights and five airports for international flights. The trial run of flights will start from Jewar airport at the beginning of 2024. Zurich Airport Asia is building the Jewar airport.
Indeed, no other State has probably got such a huge investment at a single investor summit. Both foreign and domestic investors have responded with great enthusiasm to invest in Uttar Pradesh. The State Government, at the instance of the Chief Minister, had sent eight teams abroad to hold international roadshows in 21 cities in 16 countries, and these teams brought investment of about Rs 7.12 lakh crore. The UPGIS-2023 has ten partner countries. Diplomats from different countries had met the Chief Minister before the summit, committing that their country would invest or cooperate with the State.
The Prime Minister Narendra Modi, inaugurated the Uttar Pradesh Global Investors Summit 2023 in the presence of Uttar Pradesh Chief Minister Yogi Adityanath and others. Uttar Pradesh Global Investors Summit 2023 is the flagship investment summit of the Government of Uttar Pradesh which will bring together policymakers, industry leaders, academia, think tanks and leaders from across the world to explore business opportunities and forge partnerships collectively.
Daniel Bircher, CEO of Zurich Airport Asia, said that the Zurich Airport is celebrating its 75th anniversary just as India is celebrating 75 years of independence. He mentioned the long-standing partnership with India, where Zurich Airport supported the development of the Bengaluru Airport two decades ago and is presently developing the Noida International Airport. He underlined the direct connectivity of the Noida International Airport with the Yamuna Expressway.
Perhaps not many people know that almost 65 per cent of the mobile phones sold in India are manufactured in Uttar Pradesh. If Uttar Pradesh has become the capital of the Mobile phone industry, the dynamic policies of the Uttar Pradesh Government should be highlighted. During the summit, Dixon Technologies Chairman Ravi Vachani said that Dixon Technologies is looking at exporting almost 100 billion dollars worth of mobile phones. All the industry leaders showed optimism towards the opportunities emerging in Uttar Pradesh.
The land of Uttar Pradesh is known for its cultural splendour, glorious history and rich heritage. But, it was also known as a BIMARU State with poor law and order situation. However, Uttar Pradesh has established a new identity within 5-6 years. Now Uttar Pradesh is known for good governance, better law and order, peace and stability. New opportunities for wealth creators are being made here in the State. The efforts for better infrastructure in Uttar Pradesh are bearing fruits. The State will soon be known as the only State with 5 International airports. Freight corridor will connect the State directly with the sea coast in Maharashtra. It goes without saying that other states should follow Uttar Pradesh.
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