look news india
Chief Minister Yogi Adityanath’s dream project of making Uttar Pradesh the country’s largest and favorite industrial hub is now going to get a new and very strong momentum. With the resolve to take the state’s economy to the magical figure of One Trillion Dollar Economy, the state government has played another big masterstroke in the direction of industrial development. The country’s national investment promotion agency ‘Invest India’ and the state’s nodal agency ‘Invest UP’ have joined hands together to make the huge capital investment coming from India and abroad in Uttar Pradesh more accessible, safe and fast. Together, these two leading organizations have prepared an unprecedented and modern joint strategy, which will not only attract global investors towards UP but will also write a new golden chapter in the history of industrial development of the state.
What is the main agenda of the joint collaboration of Invest India and Invest UP?
The main objective of this new and very powerful strategy is to take the ease of doing business in Uttar Pradesh to the next level. Under this new collaboration, large corporate houses investing nationally and internationally will be provided real-time information about Uttar Pradesh’s industrial policies, subsidies and available land banks through a single window system. Invest India, through its global network and embassies, will introduce foreign investors to UP’s investment potential, while Invest UP will be responsible for land allotment at the state level and clearing all necessary NOCs and administrative approvals without any delay. With this combination, investors will save time and they will be able to launch their projects in UP without any red tape.
Special focus will be on these sectors, expressway and defense corridor will become main weapons.
Both the agencies have identified those sectors of Uttar Pradesh where there is maximum investment potential and which can give recognition to the state at the global level. Under this strategy, priority will be given to green energy, semiconductor, data center, electric vehicle (EV manufacturing), electronics, textile and aerospace-defense sectors. The industrial corridors being developed on the banks of the huge network of expressways built in Uttar Pradesh (Purvanchal, Bundelkhand and Ganga Expressways) and the new ‘Noida’ i.e. BIDA being built near the Bundelkhand Expressway will be presented as major investment destinations. Apart from this, work has also started at a rapid pace on the plan to organize special road shows and investor meets to attract global defense companies in the UP Defense Industrial Corridor.
Road shows will be held in major countries of the world to woo foreign investors.
The new strategy of Invest India and Invest UP is not limited to just files, but a very aggressive ground marketing plan has also been prepared for it. In the coming months, high-level business delegations will be sent to industrial centers of major countries like America, Europe, Japan, South Korea and UAE. Through these road shows, global companies will be made aware of Uttar Pradesh’s law and order system, improved infrastructure and investor-friendly policies of the UP government. Experts believe that this joint effort of central and state government agencies will prove to be a milestone in convincing foreign companies looking for alternatives to China in the global supply chain to set up their manufacturing units in Uttar Pradesh.
Doors of employment will open for lakhs of youth, Purvanchal and Bundelkhand will get new life.
The implementation of this mega-investment policy will not only result in a huge increase in the state’s revenue, but will also create bumper opportunities for world-class jobs and self-employment for lakhs of local youth of Uttar Pradesh in their home state. Till now, areas like Purvanchal and Bundelkhand, which were considered industrially backward, are being given special preference in this strategy. Special concessions and financial incentives are being given for setting up industries in these areas, which will completely eliminate regional imbalance and give a new strength to the rural economy. This new step has made it completely clear that in the coming times, Uttar Pradesh will not only become the ‘growth engine’ of India, but will also emerge as the largest industrial powerhouse of the entire South Asia.