Kolkata: UP Investors Summit 2018 Road Show witnesses intention of investing Rs. 35000 crore

The show was attended by over 300 eminent industrialists, investors, entrepreneurs and delegates.

Over 25 entrepreneurs and investors took part in the B-2-G meeting. Apart from this, discussions on investment in UP were also held with the delegation of the UP Development Forum.

CII was the National Partner of the Summit.

The industrialists, with whom the Industrial Development Minister held discussions included Director, Shyam Steel Manish Beriwala, Managing Director, Bengal Ambuja Housing Development Ltd  Harshvardhan Neotia, Senior Vice President, Berger Paints PK Ghosh and CEO of ITC Sanjeev Puri.

The Shreya Infrastructure Finance will invest Rs. 25000 crore in UP in next two years. The company evinced its interest in up-gradation of urban infrastructure and road construction on BOT basis.

Similarly, Rs. 2000 crore will be invested in setting up of mega solar plant in Bundelkhand in next two years. Besides, the Century Ply will invest Rs. 600 crore in the state. Entrepreneur Harshvardhan Nevtia showed his interest in constructing a hotel in Varanasi.

Addressing the event, the Industrial Development Minister, Satish Mahana, said that ," Uttar Pradesh under the leadership of Chief Minister Yogi Adityananth Ji is determined to play a pivotal role in development of the country. He said that in the changing scenario, the state has become an attractive investment destination for entrepreneurs from the country and the world. The present state government will provide all necessary facilities and protection to entrepreneurs by implementing investment friendly policies."

Welcoming entrepreneurs came to attend the event, Infrastructure and Industrial Development Commissioner of UP Anup Chandra Pandey said that UP is the largest economy of the country.

He said that now, the entrepreneurs would be issued NOC and all the approvals immediately after signing of MoU regarding investment in the state.

"The State Government has taken several important decisions in accordance with its intention for ease of doing business. For this purpose, complicated procedures have been simplified. The State Government is developing a dedicated single window portal so that the entrepreneurs can get online industrial services, sanctions, approvals and licence,' said he.

Pandey said that there is a vast scope of capital investment in food processing sector.

"Besides, the subsidies of various types including capital investment subsidy, interest subsidy, incentive subsidies for patent registration and quality patent, special incentives for Mega Food Park are available to investors under the new policy," said he.

He said that the state occupied second place in MSME units in the country. Under the new MSME policy, special incentives at reasonable rates are available to investors.

On the occasion, Additional Chief Secretary, Infrastructure and Industrial Development, Alok Sinha, made a presentation on scope of investment in the state.

During the road show, Managing Director, the Wesmon Engineering Company Private Ltd and Former Chairman of CII West Bengal State Council, Anil Vasvani, welcomed the delegates.

On this occasion, Principal Secretary, Khadi and Village Industries, Navneet Sehgal, Noida CEO and Chairman, Alok Tandon, Secretary, Infrastructure and Industrial Development/ Executive Director, Udyog Bandhu, Santosh Yadav and other senior officers of the state were present.

In his welcome address, Anil Vaswani, Past Chairman, CII West Bengal, and Managing Director, Wesman Engineering Co Pvt Ltd, said, “The UP Investors’ Summit will set new landmarks for growth and development of the state and a new benchmark for the country as a whole. CII looks forward greatly to being a proactive partner in this milestone event.”