Prime Minister Narendra Modi will formally lay foundation stones of 81 industrial projects worth Rs 60,228 crore in a groundbreaking ceremony to be held in the state capital on Sunday.
These projects, after completion, are expected to generate two lakh jobs in Uttar Pradesh.
The foundation-laying ceremony, to be held at Indira Gandhi Pratishthan, will be telecast live across the 75 districts of the state.
The key projects include investment of Rs 10,000 crore by Reliance Jio Infocom and Rs 5,000 crore by BSNl for laying optical fibre cable network in the state.
Infosys, the Bengaluru-based major IT company, and Tata Consultancy Services, another IT firm, will invest Rs 5,000 crore and Rs 2,300 crore respectively on setting up their campuses in the state.
Adani Power is investing Rs 2,500 crore for 765 KV Ghatampur-Hapur transmission line. Paytm, the e-commerce and digital wallet company, is investing Rs 3,500 crore to build its campus in the state.
The Prime Minister will land at Chaudhary Charan Singh Airport in Amausi here at 11:45 am on Sunday and is expected to reach Indira Gandhi Pratishthan at 12:05 noon. After the groundbreaking ceremony. The Prime Minister will leave for the airport and fly back to Delhi at 1:50 pm.
The projects to be launched by the Prime Minister on Sunday are spread over 24 districts of the state.
Several prominent industrialists, including Gautam Adani of Adani group, Kumar Mangalam Birla of Aditya Birla group, Sanjeev Puri of ITC Dr BR Shetty of Abu Dhabi-based NMC Healthcare will be participating in the event on Sunday.
Rajya Sabha member Subhash Chandra of Essel Infra group is also expected to be present on the occasion.
With the aim to promote industrialisation in the state and attract investments, the Uttar Pradesh government had organised the UP Investors’ Summit in the state capital in February this year. In this meet, memorandums of understanding (MoUs) for projects worth over 4.28 lakh crore were signed by various corporate groups with the state government.
“The Investors’ Summit was an unprecedented success and within five months of the meet, investments worth over Rs 60,000 crore by 81 companies have materialised,” said an official of the Industries department.
He said the inauguration of the groundbreaking ceremony by Prime Minister Narendra Modi on Sunday was expected to be a prologue to the inflow of investments and generation of employment for the 22 crore population of the state.
“The UP government on its part has left no stone unturned for ensuring a friendly business environment which includes implementation of major sector specific reforms, systemic and procedural business reforms and investor facilitation mechanism,” the official said.
This reform process initiated by the state government has resulted in 14 per cent of the MoUs signed during the Investors’ Summit materialising in a short period.
The investors who had shown their intent to invest in UP were individually approached by the state government. For monitoring the progress of the implementation of the MoUs signed during the UP Investors’ Summit, a MoU tracker was set up at the Chief Minister’s secretariat. In addition to this, several sectoral policies were launched after consulting the industry.
The policies were formulated for pharmaceutical, defence and aero space, food processing and milk policy, logistic policy and biofuel.
The state government also introduced a series of reforms for ease of doing business (EODB) and scored 92.87 per cent in the ranking done by the Industrial Policy and Promotion Department under ‘Business reforms action plan’.