Rs 5-L crore proposals ready forGBC, may touch Rs 10-L crore
Lucknow, July 23 -- Investment proposals of Rs 5 lakh crore are ready for rollout at the Ground Breaking Ceremony (GBC) proposed in November and the figure is expected to reach Rs 10 lakh crore or more by the time the event is organised, industrial development minister Nand Gopal Gupta Nandi said on Monday.
International road shows will be held in China, Singapore, South Korea, UAE, Qatar and Canada to ensure GBC's success.
Reviewing preparations for the ceremony at the Invest UP office, the minister directed officials to make every effort to turn the state into a $1 trillion economy and provide all possible assistance to entrepreneurs.
Since 2017, Uttar Pradesh has become the growth engine of the country, he said.
"Investment proposals of Rs 5 lakh crore are already ready for the upcoming Ground Breaking Ceremony (GBC) proposed in November this year. We are expecting this figure to reach Rs 10 lakh crore or more by the time the event is organised," he said.
Officials present at the meeting informed the minister that the GBC includes 16,478 projects worth Rs 12.10 lakh crore.
Out of these, 8,363 projects worth Rs 4.33 lakh crore have already started commercial operations, while 8,115 projects worth Rs 7.76 lakh crore are under implementation.
Invest UP CEO Vijay Kiran Anand stated that 62 companies investing Rs 2 lakh crore have recently been given Letters of Comfort (LOCs).
"We have set a target of issuing LOCs to 10 companies every month," he added.
Leads have been prepared to attract investment and 371 companies from China are being targeted, he added.
These companies want to shift to India from China and Invest UP is making all out efforts to bring them to Uttar Pradesh, he said.
At the district level, 19,523 MOUs have been distributed among Udyami Mitras and general managers of district industries centres.Additionally, 814 companies from Fortune 500 India and Fortune Next 500 India lists have been allocated to account managers....
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