UP govt bracing up to launch projects worth over Rs 21 trillion by August

Having netted investment proposals of Rs 33.50 trillion at the Global Investors Summit (GIS), the Uttar Pradesh government is now bracing up to launch projects worth more than Rs 21 trillion by August 2023.

These projects, part of the GIS kitty, numbering over 13,000 pertain to different sectors, such as manufacturing, food processing, and micro, small and medium enterprises.

According to Chief Minister Yogi Adityanath, projects worth Rs 21.25 trillion spanning private, public, and public private partnership (PPP) domains are lined up for an early launch.

The chief minister has directed officials to host a mega ground-breaking ceremony in the next six months to launch the first tranche of GIS projects. The remaining projects would be launched in the successive rounds of the ceremony.

“During the GIS 2023, we received 13,000 investment proposals worth Rs 16 trillion. These investors are ready to implement them immediately,” the chief minister said.

Additionally, the state had garnered 29 investment proposals worth Rs 2.80 trillion from the public sector undertakings (PSUs), who have lined them up for an immediate launch.

Moreover, the government has signed 99 memorandum of understanding (MoU) worth Rs 2.45 trillion under the PPP mode.

Collectively, all these projects worth more than Rs 21 trillion will be accorded priority in a rollout at the maiden ground-breaking ceremony of the GIS 2023, a senior government official noted. The state will constitute ‘Inves¬tment Implementation Units’ in every government department and headed by a secretary level official to ensure that projects were launched without inordinate delays and red tape.

The CM has directed to set up a call centre to facilitate the implementation of projects of foreign investors. The state will also draft a policy for the revival of sick units.

Ahead of the GIS, the Yogi government had organised roadshows in 16 countries, which was followed up by domestic roadshows in 10 top Indian cities over the last few months.

Meanwhile, 34 industrial proposals worth Rs 3.90 trillion will be operationalised in a phased manner in the next two years. Similarly, 782 investment proposals worth Rs 4.11 trillion have been received from big industrial groups in varied sectors.