Backed by a proactive industrial policy, Uttar Pradesh Chief Minister Yogi Adityanath will present a new facet of the state when he rings the bell at Bombay Stock Exchange (BSE) on December 2 next during the listing of Lucknow Municipal Corporation (LMC) bonds.

The chief minister will visit Mumbai and will also interact with prominent industrialists and Bollywood celebrities and invite them to invest in UP.

Lucknow is the first city of north India to release the bond of its municipal corporation and soon the municipal corporations of Ghaziabad, Varanasi, Kanpur Nagar and Agra will follow suit.

The Rs 200 crore-bond issue was floated just before Diwali and was oversubscribed by 4.5 times to raise Rs 450 crore.

“The 10-year bond closed at a very attractive coupon rate of 8.5 percent only because India inc. has shown faith in the potentiality and prospects of Uttar Pradesh,” a senior official said.

“During his day-long visit, Yogi Adityanath will be meeting eminent industrialists, bankers and renowned Bollywood celebrities. He will be telling them about how the UP government has created a conducive atmosphere for industrialisation by way of simplification of policies, single-window mechanism for various clearances and a sound law and order as a potent back-up besides availability of basic infrastructure and manpower,” the government spokesman said.

He said that ever since Yogi Adityanath took charge of UP, a lot had changed in terms of law and order, infrastructure and air connectivity to the state.

“Be it one of the best film cities and the finance city in Noida or Asia’s largest airport in Jewar and the defence manufacturing corridor, the process of development will further accelerate with the construction of Purvanchal, Bundelkhand and Ganga Expressway. The grand Ram Temple in Ayodhya will further rejuvenate tourism in the state. UP is becoming a favourite destination of investors,” the spokesman said.

 “The results of these efforts are also visible with the fact that a few months ago, UP achieved the second slot in the Ease of Doing Business ranking with a jump of ten points. Even during the global coronavirus pandemic times, 52 domestic and foreign companies invested about Rs 45,000 crore in UP because of the investor-friendly policies of the state government. Besides this, over six lakh medium, small and micro enterprises were also given loans to the tune of Rs 20,000 crore in coordination with the banks,” the official said.

The chief minister will be discussing these issues with the industrialists and bankers, including N Chandrashekhar of Tata Sons, Dr Niranjan Hiranandai of Hiranandani group, Baba Kalyani of Bharat Forge,  Suprakash Chaudhary, CEO of Simmons, SN Subramaniam, Chairman of L&T, Vikas Jain of Capital Services, Sanjay Nair, Chairman of KKR Ltd, Jaspal Bindra, Chairman of Centrum Capital Ltd, Sukaran Singh, CEO and MD of Tata Advanced Systems, Harshvardhan of Tata Defence Technology, Ashish Rajvansh of Adani Defence, Rajat Gupta of Ashok Leyland  TS Darbari, CEO and MD of Texmaco Defence System.

Among the film personalities who will meet the UP chief minister will be Subhash Ghai, Bonnie Kapoor, Bhushan Kumar of T-Series, Jatin Sethi of Zee Studio, Rahul Mitra, Neeraj Pathak, Randeep Hooda, Tigmanshu Dhulia, Jimmy Shergill, Taran Adarsh, Komal Nahta and Raj Kumar Santoshi.

Earlier in December 2017, the chief minister had gone to Mumbai and invited prominent industrialists to the Investors’ Summit that was held in Lucknow in February, 2018. During that visit, he met Mukesh Ambani, Ratan Tata, Anand Mahindra and others, and most of them came to Lucknow and took part in the Investors’ Summit.

It may be mentioned here that during the summit, memorandums of understanding (MoUs) of about Rs 4. 52 lakh crore were signed and investments of about Rs 2 lakh crore have already come on the ground through two groundbreaking ceremonies that have taken place since the summit.