UP Investors Summit: PM announces defence industrial corridor worth Rs 20k cr, CM signs MoUs worth Rs 4.28l cr

Prime Minister Narendra Modi today announced a defence industrial corridor in the Bundelkhand region to bring development in one of the most backward regions of Uttar Pradesh.

"One of the two defence industrial corridors mentioned in the budget, one is proposed in the Bundelkhand region of the state which will bring an investment of Rs 20,000 crore and generate employment avenues for 2.5 lakh people," the Prime Minister said at the Investors Summit-2018 here.

Stressing that Uttar Pradesh government has a vast potential, the Prime Minister said that it requires policy, planning , performance to bring progress and both Chief Minister Yogi Adityanath and people of the state are ready to give "super hit" performance.

Terming holding of investor's summit in Uttar Pradesh and congregation of industrialists from all over as a sign of a big change, the prime minister said the Yogi government has overcome the previous negativity and shown a ray of hope to people with positive changes.

"Uttar Pradesh has values and virtues, but it also needs value addition," the prime minister said lauding the new policy 'One district one product' of the Yogi government and said that it could prove to be the game changer for the state.

The prime minister also said that international airports will come up in Jewar and Kushinagar.

Uttar Pradesh has signed 1,045 pacts worth Rs 4.28 lakh crore on the first day of the UP investors' summit, Chief Minister Yogi Adityanath said today.

"It is a matter of pride for the state that fortune-500 companies are participating in this summit. I want to tell you all that till now we have signed 1,045 MoUs worth Rs 4.28 lakh crore. I have recently presented budget of Rs 4.28 lakh crore and the figure of MOUs signed is the same... We are heading towards new UP," Adityanath said while addressing the summit here.

He said he would himself oversee that the MoUs signed are executed, and those who are coming to invest in the state get all the facilities.

"I welcome all the guests including industrialists. With PM's guidance and blessings, UP is heading towards development and shedding its Bimaru tag. We are trying to become developed. PM's guidance helps us in good governance and taking the state on path of development," he said.

The summit is an attempt to establish UP among the developed states and its focus areas include food processing, dairy, handloom and textile, MSME, IT, start-ups, electronic manufacturing, films, tourism and civil aviation," the chief minister added.

Stressing that the state was providing basic needs for investments like law and order, infrastructure, power and roads, he said he would ensure an administrative setup which will be transparent and answerable.

"We have established rule of law in the state in past 11 months and taken initiatives to maintain peace," he said, adding that state investment promotion board has also been set up to facilitate industrialists willing to invest.

"For ease of doing business approvals, permissions, licences are going to be under one roof. We are going to implement digital clearance which will be monitored by the CM office," he said.

Adityanath said that the state's start-up policy will provide innovation base to new entrepreneurs and associated IIT Kanpur, BHU and 30 engineering with it.

"We are making Purvanchal and Bundelkhand expressway that will be connected to industrial corridors and emphasised on regional connectivity to connect different districts and connecting tourism points," he said.