The projects, belonging to different sectors, will provide employment opportunities for 14,000 youths in the state
Ahead of the Global Investors Summit (GIS) 2023 next month, the CM Yogi Adityanath led Uttar Pradesh government held a roadshow in Kolkata, where Memorandums of Understanding (MoUs) worth around ₹7,000 crore were signed.
The agreements were signed in the presence of Uttar Pradesh’s Industrial Development Minister Nand Gopal Gupta ‘Nandi’, Labour and Employment Minister Anil Rajbhar, Transport Minister Dayashankar Singh and Minister of State for IT Ajit Pal Singh among others.
The projects, belonging to different sectors, will provide employment opportunities for 14,000 youths in the state, the government said.
In a video message to the investors on the occasion, CM Yogi Adityanath invited them to the Global Investors Summit to be held in Lucknow in February this year, as well as to invest in the state and be part of the speed of India’s growth engine.
“Even during the COVID pandemic, the state attracted investment of ₹4 lakh crores which reflected the trust that the state has been able to build among investors in recent times with better law and order and infrastructure in the state,” CM Yogi Adityanath said.
The CM said that under the leadership of Prime Minister Narendra Modi, India has emerged as a favourite investment destination for investors abroad and by following the PM’s mantra of ‘Reform, Perform and Transform’, UP has emerged as the new growth engine of India.
“Uttar Pradesh boasts of good governance, sound law and order, ease of doing business in which the state is number two in the country, robust infrastructure and largest consumer market and is on its way to becoming the second largest economy in the country,” CM Yogi Adityanath said.
“Six expressways have been completed, while seven are under construction in the state. Nine airports, including three international, are operational while the construction of 10 others, including two international ones, is underway,” he said.
“The national waterway between Haldia and Varanasi has been opened. The Government has launched a single window portal Nivesh Mitra to facilitate setting up of units and provide online incentive management for investors,” he added.
According to the CM, the Gross State Domestic Product (GSDP) of Uttar Pradesh is estimated at ₹21 lakh crores in the 2022-23 financial year, which is 65 per cent higher than the figure in 2016-17. He said that Uttar Pradesh was contributing 8 per cent to the GDP while the average annual growth rate of its economy is 11 percent.
Speaking on the occasion, Minister for Industrial Development Nand Gopal Gupta ‘Nandi’ said that the Uttar Pradesh Government has provided incentives of ₹1800 crores to the investors since 2018. “The government was providing incentives of up to 300 per cent,” he said.