UP Investors Summit 2018: MoUs Worth ₹4.28 Lakh-Crore Inked on Day 1

    The 2-day UP Investor Summit is going-on in Lucknow, MoUs worth ₹4.28 lakh-crore were inked on Day 1. Here are some highlights from the first day.

    Narendra Modi at UP Investors Summit
    Narendra Modi at UP Investors Summit

    The UP Investors Summit 2018 has been started from yesterday with Prime Minister Narendra Modi announcing defence industrial corridor in the region of Bundelkhand, which is considered as one of the most backward regions of Uttar Pradesh, with an expected investment worth ₹20,000 crore. In addition to this, in the UP Investors Summit 2018, the state’s Chief Minister Yogi Adityanath announced that 1,045 Memorandum of Understandings (MoUs) have been signed by worth ₹4.28 lakh crore.

    In the UP Investors Summit 2018, top entrepreneurs of the country, such as Mukesh Ambani, Kumar Mangalam Birla, Anand Mahindra and Gautam Adani have pledged to invest ₹98,000 crore in the state in the coming years.

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    After inaugurating the UP Investors Summit 2018 PM Modi said, “Out of the two defence corridors that were proposed in the Union Budget, one will be established in Uttar Pradesh.”

    In the speech at the UP Investors Summit 2018, CM Adityanath has assured the top business leaders that he will personally watch the roll-out of all MoUs. In case there will be any bottlenecks in the process, he will try to remove them as earliest to expedite the setting of industrial units in Uttar Pradesh.

    While addressing the UP Investors Summit 2018, PM said that Maharashtra has set a target for itself to become the first state in the country to achieve trillion-dollar economy tag. “Can there be a competition between Uttar Pradesh and Maharashtra on who will achieve the target of the trillion-dollar economy, first? This kind of competition will lead to development and generation of employment. These type of healthy races will strengthen the spirit of competitive and cooperative federalism,” he added at UP Investors Summit 2018.

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    Source: Hindustan Times
    Source: Hindustan Times

    There were numerous CEOs, who attended UP Investors Summit 2018. Among the top CEOs who commit to invest in the state in the next coming years at UP Investors Summit 2018 are Reliance Industries’ Mukesh Ambani (₹10,000 crore through Reliance Jio), Adani Group’s Gautam Adani (₹35,000 crore), and Aditya Birla Group’s Kumar Mangalam Birla (₹25,000 crore).

    To make Uttar Pradesh a state of opportunities, the Union Minister of Road Transport and Highways, Nitin Gadkari attending UP Investors Summit 2018 said that soon the department will start road projects worth ₹2 lakh crore in the state that will be used to build 5 lakh kilometres of roads and National Highways. “The ongoing ₹54,000 crore Varanasi-Haldia waterways project will transform the UP’s economy,” he said.

    The UP Investors Summit 2018 will conclude today where honourable President Ram Nath Kovind will attend the valedictory session.

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