GBC 4.0: Post-UPGIS surge augments tally of investment proposals - Hindustan Times
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GBC 4.0: Post-UPGIS surge augments tally of investment proposals

By, Lucknow
Feb 17, 2024 10:58 PM IST

Over 14,600 proposals will be implemented at the ceremony. Out of this, nearly 5000 were not among the Memorandums of Understanding (MoUs) signed ahead of UPGIS-2023.

The Uttar Pradesh government has accommodated nearly 5000 investment proposals worth 1.68 lakh crore that were received beyond the Uttar Pradesh Global Investors Summit-2023 (UPGIS-2023) for implementation at the groundbreaking ceremony 4.0 to be organised at Indira Gandhi Pratisthan (IGP) here on February 19 to 21.

ttar Pradesh chief minister Yogi Adityanath during the UP Global Investors Summit, in Mumbai, India on January 04, 2023. (Photo by Bhushan Koyande/HT Photo) (HT FILE PHOTO)
ttar Pradesh chief minister Yogi Adityanath during the UP Global Investors Summit, in Mumbai, India on January 04, 2023. (Photo by Bhushan Koyande/HT Photo) (HT FILE PHOTO)

Over 14,600 proposals will be implemented at the ceremony. Out of this, nearly 5000 were not among the Memorandums of Understanding (MoUs) signed ahead of UPGIS-2023.

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Prime Minister Narendra Modi will perform bhoomi pujan for implementation of the projects at the ceremony in the presence of chief minister Yogi Adityanath, diplomats and leaders/ representatives of industry here on February 19.

The state government, which signed MoUs worth 33.50 lakh crore of investment ahead of the UPGIS-23, now claims to have received investment proposals worth 40 lakh crore. Out of them, the investment proposals of over 10.23 lakh crore are going for implementation at the groundbreaking ceremony 4.0.

Senior officers of the state government said the rising number was an indication of the growing trust that the investors now have in Uttar Pradesh.

“Yes, we have continuously received investment proposals. Nearly, 5000 of these proposals going for implementation at the groundbreaking ceremony are not part of the MoUs signed ahead of the UPGIS-2023. The state government received them after the UPGIS-2023. This indicates the growing trust of the investors in the state government. We are taking nearly half of the proposals (in terms of total number) and less than one-third of proposed investment (amount of investment) to the ground at the groundbreaking ceremony. We will continue to make efforts to bring more investment proposals to the ground in future,” infrastructure and industrial development commissioner Manoj Kumar Singh said.

Six industrial development authorities, including the Yamuna Expressway Industrial Development Authority (YEIDA), Greater NOIDA and NOIDA, are implementing a large chunk of investment. Besides them, the state government’s departments have also made efforts to bring investment proposals to the ground. A department-wise breakup indicates that nearly 300 proposals of the MSME and the exports promotion department involving investment of about 45,000 crore are to be implemented at GBC 4.0. About 60 proposals of IT and electronics department involving investment of 62,000 crore are also being implemented. At the same time about 750 projects of the housing department involving investment of about 57,000 crore are also going for implementation at the groundbreaking ceremony. Nearly 40 projects of excise department involving investment worth about 7500 crore are to be implemented at the groundbreaking ceremony.

A press release said 37 government departments are contributing to groundbreaking ceremony and 16 of them have exceeded their respective targets. The basic education department has achieved an outstanding 888 percent of its set target, while the Uttar Pradesh State Industrial Development Authority leads in terms of the investment amount, with projects 1.5 lakh crore slated for implementation. Additionally, the department of additional sources of energy will implement projects worth approximately 1.42 lakh crore. In addition to the basic education department, 15 other departments have surpassed their targets with remarkable achievements. These include the food and civil supplies department (226%), the forest department (182%), AYUSH (173%), animal husbandry (167%), energy (165%), secondary education (139%), technical education (133%), horticulture (120%), additional energy sources (114%), cane development and sugar industry (112%), medical education (110%), health (105%), YEIDA (103%), civil aviation (100%), and GNIDA (100%). Together, these 16 departments are set to launch a total of 4,381 projects amounting to approximately 4.5 lakh crore in investment.

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  • ABOUT THE AUTHOR
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    Umesh Raghuvanshi is a journalist with over three decade experience. He covers politics, finance, environment and social issues. He has covered all assembly and parliament elections in Uttar Pradesh since 1984.

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