PM Modi to inaugurate UP Investors’ Summit 2018 in Lucknow today

Leading industrialists, 18 union ministers and a number of foreign delegations are expected to attend the summit aimed at projecting the state as an investment-friendly destination

india Updated: Feb 21, 2018 10:14 IST
Umesh Raghuvanshi
Umesh Raghuvanshi
Hindustan Times, Lucknow
Prime Minister,Narendra Modi,Yogi Adityanath
Prime Minister Narendra Modi will inaugurate the two-day Uttar Pradesh Investors Summit 2018 in Lucknow on Wednesday. (HT Photo )

Prime Minister Narendra Modi will inaugurate the two-day Uttar Pradesh Investors Summit-2018 in Lucknow on Wednesday, an event billed as a major attempt by Yogi Adityanath government to lure investors and create jobs.

Leading industrialists, 18 union ministers and a number of foreign delegations are expected to attend the summit, which the BJP government is claiming will transform the image of the UP from a backward state to an investment-friendly destination.

“We expect about 5,000 participants at the summit. About 18 union ministers, industry leaders and foreign dignitaries will attend the summit. President Ram Nath Kovind will be the chief guest at the closing ceremony on Thursday,” said UP’s infrastructure and industrial development commissioner (IIDC) Anoop Chandra Pandey.

Expectations are high as the state government already claimed to have signed over 900 memorandums of understanding (MoUs) with companies from various sectors

“Yes, more than 900 MoUs have been signed,” said minister for industry Satish Mahana.

Ahead of the summit, the state cabinet on Tuesday cleared a modified film policy and Uttar Pradesh Warehousing and Logistic Policy promising incentives to the investors. The Uttar Pradesh Industrial Investment and Employment Promotion Policy 2017 and about 14 sectoral policies have already been implemented to provide single window clearance to those willing to invest.

On Tuesday evening chief minister Yogi Adityanath hosted a dinner for the investors even as the state capital has been decked up for the mega summit.

Around 6,000 streetlight poles have been painted and decorated with LED light strings, an official said.

Lucknow Municipal commissioner Udairaj Singh said, “Officials have worked hard for this event and the LMC wants to project the best picture of the city in front of the guests.”

In the run up to the summit, the state government organised six road shows, including one in Mumbai in December last year, which the chief minister attended to interact with industrialists.

“I was surprised in the beginning when Prime Minister Narendra Modi and BJP chief Amit Shah sent me to the state to take over as the chief minister…We wanted to speak to some bankers on some issues. Nobody used to take phone calls. Nobody was ready to invest in UP…. Now, everybody wants to come to UP (for investment). This is because the atmosphere has now changed,” said Adityanath in an interview.

Pandey said he would try to ensure that all the MoUs signed now are implemented in the next six months.

“We hope to create 25 lakh direct jobs in the state,” said Pandey.

Adityanath and his team will face the challenge of not only implementing the MoUs, but also to ensure policy continuity.

After BSP chief Mayawati took over as state chief minister in 2007, the state government had ordered closure of Reliance Fresh stores. A few years later, a number of industrial units threatened to shift out of state as the Mayawati government decided to withdraw the concessions given to investors in pursuance of Uttar Pradesh Industrial Investment Promotion Policy 2006 announced by her predecessor Mulayam Singh Yadav.

“We are not indulging in any such politics and the incentives being given to investors during the previous regime still continue,” said industry minister Mahana.

As the law-and-order situation was one of the reasons for keeping investors away from the state in the past, the Adityanath government decided to take some tough measures, introducing the Uttar Pradesh Control of Organised Crime Bill in the state legislature and giving a free hand to the police to act tough against criminals.

Although the passage of the bill in Vidhan Parishad (UP legislative council) has been delayed by the opposition, it is expected to get the state legislature’s nod during the ongoing budget session.

First Published: Feb 21, 2018 10:14 IST