Projects Worth Rs10 lakh Crore to be Implemented in Uttar Pradesh | 12 Feb 2024

Why in News?

At the Groundbreaking Ceremony (GBC) 4.0, the Uttar Pradesh Government is set to announce ₹10 lakh crore worth of Memorandum of Understanding (MoUs) covering 14,000 projects, expected to create 33.50 lakh employment opportunities.

Key Points

  • The projected investment rollout for GBC 4.0 is five times greater than the cumulative investment of over ₹2.10 lakh crore implemented in the previous three groundbreaking ceremonies.
    • Over 52% of these projects will be launched in western Uttar Pradesh, which is also known as Paschimanchal region.
    • Around 29% of the MoUs will be implemented in the Purvanchal region, which comprises eastern parts of the state.
    • 14% MoUs will be implemented in Madhyanchal, and 5% in Bundelkhand.
  • These MoUs were signed at the Uttar Pradesh Global Investors’ Summit-2023 organised in Lucknow in February 2023.
  • Around 3000 people, including eminent industrialists, representatives of 500 companies, foreign investors, ambassadors, high commissioners and other distinguished guests will attend the Groundbreaking Ceremony 4.0.

Previous Groundbreaking Ceremonies

  • Three groundbreaking ceremonies have already taken place in the state, bringing investment of over ₹2.10 lakh crore.
  • The first UP Investors’ Summit was held in February 2018 in which 1045 MoUs worth ₹4.28 lakh crore were signed.
  • The first groundbreaking ceremony took place in July 2018, followed by another in July 2019, resulting in the successful launch of 81 projects with investment of ₹61,792 crore and about 290 projects with investment of ₹67,202 crore, respectively.