UP investors’ summit concludes, Yogi says industry may invest additional Rs 4 lakh cr

President Ram Nath Kovind says UP’s talent pool is state’s basis to become a powerhouse.
President Ram Nath Kovind and Uttar Pradesh chief minister Yogi Adityanath with other BJP leaders during the concluding session of Uttar Pradesh Investors Summit 2018, in Lucknow.(PTI Photo)
President Ram Nath Kovind and Uttar Pradesh chief minister Yogi Adityanath with other BJP leaders during the concluding session of Uttar Pradesh Investors Summit 2018, in Lucknow.(PTI Photo)
Published on Feb 22, 2018 11:10 PM IST
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Hindustan Times, Lucknow | By HT Correspondent, Lucknow

The Uttar Pradesh Investors Summit-2018 concluded on Thursday with President Ram Nath Kovind saying the progress of the state should make the investors invest emotionally as well economically in it and chief minister Yogi Adityanath informing the gathering that the investors had also shown interest in making an additional investment of Rs 4 lakh crore. This figure was apart from the MoUs already signed for implementing projects to the tune of Rs 4.28 lakh crore, Adityanath said.

The President also said available talent pool provided the state the basis for turning into an economic power house and an irresistible destination for investors.

“Apart from attracting economic investment, the progress of Uttar Pradesh should motivate those who come to the state to become emotionally invested in it,” said the President.

Kovind’s observations came after union minister for finance Arun Jaitley said the summit was an attempt to change the state’s agenda and create history.

“Uttar Pradesh comprises one of the largest workforces, as well as consumer markets, not only in India but anywhere in the world. It is home to some of India’s finest institutions of higher education, such as IIT Kanpur, IIM Lucknow, Banaras Hindu University, Allahabad University and so many others. This talent pool and this energy give Uttar Pradesh the base to become an economic powerhouse. They make it an irresistible destination for investors,” the President said.

“The union government has transferred a larger share of tax revenues as well as economic and policy responsibilities to the states. Increasingly, the economic future of India is being written by states and state governments, such as that of Uttar Pradesh,” said the President.

He said the state government had shown determination in providing a conducive environment for business and for investors.

The President said Uttar Pradesh was a leading producer of many agricultural commodities and there were enormous opportunities for large-scale investment in the state in agriculture-based businesses such as food parks, food processing units, animal husbandry and dairy products.

Governor Ram Naik shared his conversation with Prime Minister Narendra Modi on the way to airport on Wednesday and said the PM acknowledged that the UP’s summit was greater than the summit Modi had organised in Gujarat in 2003.

Naik said the success of summit had become a point of discussion among the people of state living abroad. Naik referred to an email he received from London on Thursday to make the point that the people of UP origin there wanted to contribute to state’s development.

Earlier, Jaitley said the Yogi government had brought about an improvement in the law and order situation and also provided political stability in the state. He said the defence corridor to be set up in Bundelkhand would increase the demand for specialised workforce, adding the state government should adopt skill development programme to make the investors realise that trained personnel too were available in UP along with land and incentives.

Railway minister Piyush Goyal made quite a few announcements for UP. These included the start of a heritage train between Bahraich and Lakhimpur Kheri, connecting the Katarniaghat and Dudhwa wildlife sanctuaries in UP, increasing capacity of the Rae Bareli coach factory from the existing 500 coaches to 3000 coaches in the next three years in phases, setting up rail ancillary factory in the industrially backward Fatehpur district, opening a coach refurbishment factory near Jhansi and revival of an electric loco shed in Gorakhpur.

IT minister Ravi Shankar Prasad said Digital India cannot be achieved without a Digital UP.

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