UP Investor Summit: Perfect Launchpad for Brand UP

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So far, over 5,000 delegates have already registered for the Summit. Some of the partner countries at the Summit, include Netherlands, Japan, Czech Republic, Finland, Slovakia and Mauritius. Prime Minister Narendra Modi would address the inaugural session of the Summit on February 21, while President Ram Nath Kovind would arrive for the valedictory function of the high ticket extravaganza, the biggest such event in Lucknow’s calendar. Union finance minister Arun Jaitley would also address the closing ceremony on February 22, Reports Vipin Agnihotri  in Governance Democracy & Politics (GDP),  February Issue

In order to woo big-ticket investors and industrial groups, the Yogi Adityanath government is gearing up to offer industrial grade land from a menu of available swatches and plots in Uttar Pradesh. If sources are to be believed, such land has been identified under various state industrial development authorities, namely, Noida, Greater Noida, Lucknow Industrial Development Authority (LIDA) etc., apart from pockets flanking Lucknow-Agra Expressway and the proposed Purvanchal Expressway. The government has planned to earmark land falling within the 10 km of these expressways.

Initial signs are that UP industrial development minister Satish Mahana has directed these development authorities to make sure that the availability of land before the forthcoming UP Investors’ Summit on 21-22 February 2018. He stressed that the visiting delegates should be apprised of such land, so that prospective investors could choose suitable land for setting up their units. So far, over 5,000 delegates have already registered for the Summit. Some of the partner countries at the Summit, include Netherlands, Japan, Czech Republic, Finland, Slovakia and Mauritius.

Besides, UP State Industrial Development Authority (UPSIDC) is in the process of finalising 25,344 acres of land at 15 industrial hubs across the state for setting up industrial units. The Geographic Information System (GIS) mapping is on. Statistics wise, there are nine industrial development authorities in UP, including UPSIDC, Noida, Greater Noida, Gorakhpur Industrial Development Authority (GIDA), Satharia Industrial Development Authority (SIDA), LIDA, Yamuna Expressway Authority, UP Expressway Industrial Development Authority (UPEIDA) and UP State Industrial Development Authority (UPSIDA).

Prime Minister Narendra Modi would address the inaugural session of the Summit on February 21, while President Ram Nath Kovind would arrive for the valedictory function of the high ticket extravaganza, the biggest such event in Lucknow’s calendar. Union finance minister Arun Jaitley would also address the closing ceremony on February 22.

On the inaugural day, Adityanath would host a high profile dinner for about 200 dignitaries, including India Inc’s top captains, including Reliance Industries Limited (RIL) chairman Mukesh Ambani, Tata Group chairman N Chandrasekaran, Kumar Mangalam Birla, Gautam Adani, Subhash Chandra, Sudhir Mehta, Sanjiv Puri, Hemant Kanoria, Kulin Lalbhai, G M Rao and Subramanian Sarma etc.

In recent months, the government had organised roadshows at six metropolises, including New Delhi, Bengaluru, Hyderabad, Mumbai, Kolkata and Ahmedabad in run-up to the Summit. At Mumbai, Adityanath had interacted with industrialists, including Ratan Tata and Mukesh Ambani, bankers and investors. Later, Birla had called upon Yogi in Lucknow to discuss investment opportunities.

At these roadshows, the state had claimed to have garnered investment proposals worth Rs 2.85 trillion with Mumbai roadshow alone accounting for about Rs 1.25 trillion. Gautam Adani had also met the UP delegation in final roadshow in Ahmedabad on January 18.Meanwhile, Mahana has claimed that investment Memorandum of Understanding (MoU) worth over Rs 700 billion had already been signed with private companies.

Quest For Holy-Some Investment

The vice chancellor of a state-run university was in for a bit of surprise when some potential investors recently asked him about the feasibility of setting up a chain of hotels in and around Ayodhya, one of the hotspots of UP’s religious tourism.

“With government focus, investors are beginning to realise the need to invest here. It’s a win-win situation. Development will improve infrastructure and the standard of living of people here. The increased tourist footfall will help investors make money,” pointed out Professor Manoj Dixit, the vice chancellor of Dr RML Awadh University, Faizabad. “The enquiry about the hotels is important because it means people are already beginning to see potential in UP’s rich religious and cultural heritage,” he says.

It is worthwhile pointing out that identical enquiries are being made for other religious places too, from Mathura to Naimisharanya in Sitapur and Varanasi and Vindhyachal, say officials close to chief minister Yogi Adityanath. And that is where the UP government is hoping to not only attract investment but also connect with global tourists so that these novelties make them travel to the most populous state.

During his Myanmar visit in August last year, Adityanath had marketed the Buddhist circuit, along with the Krishna and Ramayana circuits, to the international audience. “We are already working on a plan to improve air connectivity between various UP cities,” said Awanish Awasthi, UP’s principal secretary and director general, tourism.

Sources said the much-delayed Kushinagar airport project too would soon become operational. Once ready, it will be a crucial link to the Buddhist circuit that comprises several east UP districts and parts of Bihar. The state government is also coming up with a joint cultural centre known as ‘Apravasi Bhawan’ in Prime Minister Narendra Modi’s Lok Sabha constituency Varanasi. Not surprisingly, during the two-day Uttar Pradesh investors summit, the BJP government in UP is expected to make an informal push for investment in and around religious cities.

In order to draw investors to the religious towns, the government has come up with an ambitious circuit plan. This includes the Shakti Peeth circuit to develop places linked to Hindu goddesses and one lined up around cities connected with the Mahabharata era. A Sufi circuit has also been planned and will be showcased at the investors’ summit as a potential investment opportunity.

“These religious places could develop and as their economy booms, they will develop into money spinners. But for this to happen, the state government will have to ensure proper infrastructure, connectivity, hotel accommodation and security of tourists among a host of other things,” pointed out Professor Pushpesh Pant of the Jawaharlal Nehru University.

UP government officials are of the opinion that the government is aware and working to a plan. “We will welcome investment in the hospitality and accommodation sector as well as transportation. Then, you will require guided tours and obviously that will mean tour guides too. We are also expecting yoga and wellness centres to come up here,” an official said.

The Adityanath government’s religious push is being aided by the centre. Tourism development of 94 various sites in 34 districts of UP has already been sanctioned by the ministry of tourism under the Heritage Circuit, Spiritual Circuit I & II of Swadesh Darshan Scheme.

Similarly, an integrated tourism development plan for Ayodhya under the Ramayana circuit of the Swadesh Darshan scheme has been cleared. So is a similar plan under the ‘Prasad’ scheme for Varanasi, development of Gorakhpur, Dumariyaganj under Siddhartha Nagar and Devipatan under the spiritual circuit of Swadesh Darshan scheme. Similar, development plans are also due for Naimisharanya, Allahabad, the Braj region comprising Barsana, Goverdhan, Vrindavan and Gokul as well.

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