In anticipation of the groundbreaking ceremony (GBC) of over 8,000 projects with an astounding total investment potential of over Rs nine lakh crore, the Uttar Pradesh government has set lofty goals for a number of ministries. Of these projects, over 2,000 fall into the category of those without Memorandums of Understanding (MoUs), while over 6,000 have already had agreements inked.
In particular, Uttar Pradesh has led the way in this effort, having inked more than 26,000 Memorandums of Understanding that might result in investments totaling more than Rs 38 lakh crore. The government assigned 33 ministries to supervise the execution of Memoranda of Understandings valued at more than Rs 9 lakh crores. Of these, the department responsible for Additional Sources of Energy has been particularly successful, having prepared Memorandums of Understanding valued at over Rs 1 lakh crore for the GBC. With 503 Memorandums of Understanding signed by the department, the overall potential for investment exceeds Rs 8 lakh crores.
Preparing 115 projects worth Rs 54,000 crores for the GBC is the Noida Authority, which has also shown great potential. By signing 426 Memorandums of Understanding with investment potential of over Rs 1 lakh crore, they have achieved 61% of their objective of Rs 90,000 crore. In GBC, the Higher Education department has given its approval to 257 projects totaling Rs. 51,000 crore.
Brijesh Pathak, the Deputy Chief Minister, emphasized that the state’s new industrial policy, single window system, and ease of doing business had helped it draw in industrialists. Opportunities in Uttar Pradesh have increased as a result of these measures, and the government’s focused strategy is fueling the investment boom that will be evident at the groundbreaking event. With investments topping 37 lakh, Uttar Pradesh has become a sought-after location for investments.
But Ameeque Jamai, the head of the Samajwadi Party, voiced reservations about the GBC preparations on behalf of the state’s opposition. Before such events could effectively draw investment from the state, Jamai stressed the need for tangible foundation and execution, casting doubt on the government’s ability to translate investment commitments into actual projects.
