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GBC 4.0: Investments of ₹97 billion to provide employment to 25,000 in Prayagraj
A total of 149 companies, which signed agreements at the GIS 2023, are now ready for the groundbreaking ceremony
The agreements reached at the Global Investors’ Summit (GIS) held in Lucknow last year are set to give impetus to business activities in Prayagraj while playing a significant role in CM Yogi Adityanath’s campaign to make Uttar Pradesh a one trillion-dollar economy.
A total of 149 companies, which signed agreements at the GIS 2023, are now ready for the groundbreaking ceremony. In the groundbreaking ceremony to be held on February 19 in Lucknow, business investments of ₹9700 crore (97 billion) from Prayagraj will be formally implemented.
After this, establishment of these industries will provide employment opportunities to around 25,000 people, said district officials. In the groundbreaking ceremony, 75 investors, who have invested more than ₹10 crore each in Prayagraj, will participate in the programme being organised in Lucknow whereas 74 investors with investments of less than ₹10 crore will gather at Sangam auditorium in Prayagraj and be part of the ceremony.
Officials said the 75 investors investing over ₹10 crore each between them are investing ₹9,472.23 crore generating employment for 23,375 people while the 74 investors investing ₹10 crore or less are investing a total of 236.16 crore between them generating employment for 1,444 people.
“After the GIS 2023, the industries department provided all possible assistance to entrepreneurs to set up new industries, the result of which is visible today. After the groundbreaking ceremony, it can be expected that Prayagraj will get a new identity in the field of industry,” said Sharad Tandon, deputy commissioner (industries), Prayagraj.
The special thing is that a maximum of 24 entrepreneurs have invested around ₹25 billion in the housing sector. An investment of ₹11 billion is being made in new and renewable energy. Similarly, there are preparations for investment in other areas as well. These initiatives will strengthen the industry in Prayagraj and create employment opportunities, officials said.
