UP Govt plans meeting Defence Corridor investors next month

Lucknow: The Yogi government has planned a meeting with investors in the defence corridor next month to expedite the projects.

In the recently concluded five-day Defence Expo, 23 companies signed an MOU worth Rs 50,000 crore with the state government for investment in the defence corridor.

“The government will convene a meeting with all investors of the defence corridor next month to make sure they do not face any problem in setting up their units,” said UP industrial development minister Satish Mahana.

The minister was speaking at the CII’s session on ‘UP Economic Summit – Shaping the Next Wave Of Growth’ organised on its annual day.

“We will make sure that all MoUs are rolled out within due time,” he added.

Commenting on investments and MOUs signed at the UP Investors’ Summit organised in February 2018, Mahana said: “Around 30 percent industries that had signed MOUs at the Investors Summit have rolled out their projects.”

He added that the ‘Nivesh Mitra’ had enhanced ease of doing business for industrialists.

The Nivesh Mitra is an online facility for entrepreneurs who want to invest in the state.

It may be pointed out that the Uttar Pradesh has a separate defence and aerospace policy to promote investment in defence sector in the state.

Mahana also said that the government was working on a lucrative policy for allotment of industrial lands which will be announced soon.

Also present on the occasion, Alok Tandon, industrial development commissioner, said: “The government is planning for the global investors meet slated for later this year.”

In this year finance bill 2020-21, various new projects have been announced, including the 620 km Ganga expressway, National Waterway 1, 25 domestic airports for regional connectivity.

Sameer Gupta, chairman, CII northern region, stressed that the state was steadily emerging as an industrial hub.

Vinod Sharma, chairman, CII, Uttar Pradesh State Council, stated that the government was trying to revive the growth momentum through its investor friendly policies.