Uttar Pradesh
Uttar Pradesh’s Mega Investment Drive
- 16 Feb 2024
- 2 min read
Why in News?
The Uttar Pradesh government is about to host the fourth edition of the Ground Breaking Ceremony (GBC@IV) in Lucknow which is aimed at implementing investment proposals worth Rs 10 lakh crore.
Key Points
- The Uttar Pradesh State Industrial Development Authority (UPSIDA) is poised to initiate 15% of the proposals at this ceremony, amounting to Rs 1.5 lakh crore.
- These mega projects include:
- Integrated Township in Chandauli: A Rs 7,000 crore integrated township, covering 333 acres, will be inaugurated by Prime Minister Narendra Modi during GBC@IV.
- World Trade Center Development in Chandauli: The development of integrated townships and malls by the World Trade Center Noida Development Company will generate an additional 12,000 jobs in Chandauli.
- Manufacturing Ventures: Projects by Bharat Heavy Electricals, Apex Welfare Trust, and Anita Distillery will collectively create employment opportunities for thousands in sectors such as industrial goods production, healthcare, and biofuel production.
- The implementation of these projects is expected to catalyze economic growth and development across several districts, including Chandauli, Lalitpur, Basti, Etah, Bulandshahr, Amethi, Moradabad, and Jhansi.
- The planned investments are poised to create over 3,500 units across 45 districts, significantly contributing to job creation and economic empowerment.
- This massive influx of investment is expected to bolster Uttar Pradesh’s economic prowess and contribute to India’s overall Gross Domestic Product (GDP) growth.
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.
