UP Investors' Summit: MoUs worth Rs 4.28 lakh crore signed, President Kovind calls the state ‘Economic Powerhouse’

Congratulating the Chief Minister Yogi Adityanath and his team for the successful organisation of the two-day UP Investors’ Summit, the President Ram Nath Kovind said Uttar Pradesh will soon become an ‘Economic Powerhouse’ in the country.

In his valedictory address during the closing session of the two-day summit, the President said that the world was watching sweeping changes in Uttar Pradesh with interest to explore business opportunities in the state. Participation of foreign countries in the summit from different continents is a pointer to this, he added.

“With its biggest consumer market and largest human resources power, Uttar Pradesh has tremendous potential to accelerate its growth to become the economic powerhouse in the country,” said the President.

He pointed that the present government has accelerated all business parameters required for investments by improving the law and order situation, giving better rail, road and connectivity, providing required infrastructure and power to make the state a favourite destination for investors. “Participation of a large number of delegates at UP Investors’ Summit is an indication to this effect,” said the President.

“GST has broken state boundaries and steps taken by the state government in the direction of ease of doing business has certainly made an impact on investors across the world to invest in Uttar Pradesh,” said he.

“Economic growth of Uttar Pradesh is necessary for the economic growth of the country and UP will make a major contribution in this direction in days to come. There is a need to create an investor-friendly business environment that investors are forced to make an economic and emotional investment in the state,” hoped Kovind.

Speaking at the closing ceremony, the Chief Minister Yogi Adityanath thanked the Prime Minister Narendra Modi, the President Ram Nath Kovind, all Union and state ministers and Indian and foreign delegates for their participation in the two-day summit.

“Uttar Pradesh has taken a big leap in ‘ease of doing business’. Single window digital clearance system will go a long way in making state one of the most favourable destination of making the investment,” he said.

The CM claimed that defence industrial corridor will entail an investment of Rs 1 lakh crore. “We have signed MoUs worth Rs 4.28 lakh crore and set a target to create 35 lakh job and employment opportunities,” claimed Yogi Adityanath.

The Union Finance Minister Arun Jaitley said that Yogi government has written a new history by showing its political will to take tough decisions. “Investors make investments only in states which are corruption-free and secured. In the past 11 months, Yogi government has worked tirelessly to bring sweeping changes required for attracting investments. The results are for all to see during the two-day UP Investors’ Summit,” pointed Jaitley.

The Defence Minister Nirmala Seetharaman said that after Prime Minister announcing to set up one of the two defence industrial corridors in Uttar Pradesh, a Defence Investors’ Cell is being set-up in the ministry to help and clear investments for the UP project.

The Union Minister for Railways Piyush Goyal declared that the manufacturing capacity of the Rail Coach Factory in Rae Bareli would be doubled. He said this year it will produce 1000 coaches and every year it will increase production by a 1000.