E-Paper
Uttar Pradesh has emerged as prime investment destination, says industrial development minister Nandi
Uttar Pradesh industrial development minister Nandi says the improvement in law and order as well as the crackdown on the mafia has added to the confidence of investors
LUCKNOW: Nand Gopal Gupta Nandi, the Uttar Pradesh minister for industrial development, export promotion, NRI and investment promotion, has emerged as a key figure when the state government is about to hold the Global Investors Summit from February 10-12 to attract investment from various states and overseas. He participated in roadshows in Germany and Belgium as well as in various states in India in the lead-up to the summit. In an interview, he talks about how Uttar Pradesh has emerged as a prime investment destination.
Q; Uttar Pradesh organised investors summit and ground breaking ceremonies earlier. How many investment proposals have been launched on the ground?
A: Uttar Pradesh received investment intents of ₹4.68 crore in 2018 of which ₹4 lakh crore investment has started on the ground. Uttar Pradesh tops in the country in terms of launching of investment proposals on the ground (after they were) received during investor summits. Uttar Pradesh has formulated its new industrial policy. To attract investment, we have amended the old policy. We are giving capital subsidy to entrepreneurs. The problem faced by traders due to GST (Goods and Services Tax) has been also addressed. They can opt for capital subsidy or GST. The best practices of industrial policies of various states have been included in our policy. U.P. is attracting investment from various states and abroad as well.
Q: How is U.P. transforming from a BIMARU state to an investment hub?
A: Earlier, few businessmen wished to invest in Uttar Pradesh but the scenario is changing fast. The Uttar Pradesh Global Investors Summit (UPGIS) has already received 14,000 investment intents. 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.
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 the Jewar airport at the beginning of 2024.
The improvement in law and order as well as the crackdown on the mafia has added to the confidence of investors. They know that under the BJP government, their investment will be safe.
Q: How does the state government plan to address the regional imbalance?
To address the regional imbalance, the Uttar Pradesh government is organising investor summits in all the 75 districts. The state government will give a big rebate to the entrepreneurs who plan to set up their enterprise in east U.P. and Bundelkhand region. The defence corridor, Purvanchal Expressway and Baundelkhand expressway have opened the door for investment in both the regions.
Q: Uttar Pradesh used to be infamous for bureaucratic red-tapism and corruption? Will it not become a hurdle in investment?
A: After 2014, the bureaucracy in the country as well as in Uttar Pradesh has undergone a change. Performance has become the mantra for officers. The chief minister has set the schedule for completing development and welfare projects. Slack officers have been side-lined. Action is being taken against corrupt officers. When the leadership is honest, the lower-level bureaucracy, too, becomes honest.
Q: You visited various countries, including Germany and Belgium. What was the response of foreign investors?
A: Post-Covid, India has emerged as a hope for foreign countries. Foreign investors are eager to invest in the country. Uttar Pradesh has emerged as their favourite destination. People will witness the visit of investors from around the globe during the upcoming investors’ summit. The state has road, rail, air and waterways networks. It has a large chunk of fertile land. A variety of grains, vegetables and fruits are produced here. The state has a population of 25 crore. It’s a big consumer market. Over nine crore people settled on the border visit Uttar Pradesh for medical treatment, education, marketing and tourism.
Q: The Uttar Pradesh government has called upon the people who have migrated from U.P. to other states or foreign countries to invest in the state. What is the response?
A: During our visit overseas, we met several migrants from Uttar Pradesh, who are willing to invest in their homeland. They have achieved a lot on foreign shores. Several of them will visit Uttar Pradesh during the investor summit.
Q: A politician is managing investment in a state like U.P. How are you handling a sensitive department like industrial development?
A: I am a businessman running industrial units. I am aware of the problems faced by businessmen, how the criminal elements and local mafias try to harass entrepreneurs. What problems the businessmen face in getting land use changed, how officers put up hurdles in the working of businessmen. I have experienced all in my political career. I am aware of the working of the industry department. The officers cannot misguide me. With my experience, I can understand the issues well. I used my experience in amending the working of the department.
