UP Investors Summit: PM Modi announces Rs20,000 crore defence production corridor

Two-day'UP Investors Summit- File

Prime Minister Narendra Modi has arrived in Lucknow today to inaugurate the two-day Uttar Pradesh Investors' Summit, which is being attended by around 5,000 people, including industry leaders from India and overseas, chief ministers, union ministers, policy makers and academics. "The government is organising this for the betterment of the public and through this event, UP will get an opportunity to change its image", said the CM. However, a major chunk of this investment was used by the company to make inroads into the most populous state of the country - Uttar Pradesh.

PM, Modi said, MSME- Micro Small and Medium Enterprises contributed a lot in boosting up the state economy.

"Hon'ble Chief Minister, it is our commitment to stand with you on your journey of transforming Uttar Pradesh into a progressive and industrialized state", he said addressing Uttar Pradesh chief minister, Yogi Adityanath.

"In alignment with the government's Make in India vision, ITC proposes to invest in a world-class integrated consumer goods manufacturing facility in the state". He said the State Government is serious about fulfilling the promises made to farmers, women and youth. For the record, in terms of economy now UP is India's second largest state with a gross state domestic product of $230 billion, while Maharashtra is over $400 billion. "We are going to implement digital clearance which will be monitored by the CM office", he said.

He said the Union Government's Pradhan Mantri Kisan Sampada Scheme would help reduce wastage in the agriculture sector.

The corridor will link Agra, Aligarh, Lucknow, Kanpur, Jhansi and Chitrakoot, he said.

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PM also heaped praises on Uttar Pradesh by mentioning all the resources that the state has and their maximum utilisation. India can not grow without Uttar Pradesh.

Modi termed the "one district-one product" policy of the state government as game changer and lauded UP Chief Minister Adityanath Yogi for pulling the state out of negativity prevailing previously, and said the coming of investors in large number at the summit was an indicator in this regard. "We are heading towards new UP", Adityanath said, adding that "UP is heading towards development and shedding its "Bimaru" tag", reports PTI.

With this "capacity and strength", Modi said, UP can be a "growth engine" not just for north India but for the entire country. The Investors' Summit has been organised to further the cause of economic development in the state and attract investments.

This is expected to create 1,200 #jobs in Uttar Pradesh.

The companies that assured investments over the next five years included Reliance Jio (Rs 10,000 crore), Adani group (Rs 35,000 crore), Aditya Birla Group (Rs 25,000 crore), Essel Group (Rs 18,750 crore) and Mahindra & Mahindra (Rs 200 crore), reported Hinudstan Times.

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