Mumbai/Lucknow, Jan 5,2023: Uttar Pradesh Chief Minister Yogi Adityanath said on Thursday that the path to $5 trillion Indian economy passes through his state as he made a fervent appeal to India Inc. to invest and set up a base there.

Adityanath, along with a team of top officials from UP, held a road show here ahead of the Uttar Pradesh Global Investor Summit (UPGIS), and addressed leading industrialists, businessmen, bankers, investors, and representatives of industry organisations.

At one point, the officials said the auditorium became house-full even as some honchos patiently waited outside to hear out Adityanath, who was greeted with a standing ovation, and several top speakers.

The CEO of real estate major Hiranandani Group, Darshan Hiranandani, recalled his own experience to laud the policies and working style of Adityanath, and the conducive environment in UP that attracted him.

“We recently set up a world-class data centre park worth Rs 6,500 crore in Greater Noida. In August 2020, during the Covid pandemic, we started talks with the UP government, applied in September, got the land allotment in October, and the CM laid the foundation stone in December. We got all clearances in January 2021, the construction began in March 2021 and the park was inaugurated in October 2022. This is a first in Hiranandani Group’s history that a mega-project was completed in just 24 months in a completely virtual process,” Hiranandani said.

An impressed CII President and Bajaj Finserv Ltd Chairman Sanjeev Bajaj cited Adityanath’s “sustainable and inclusive development” model, and said that they are industry partners for the UPGIS-2023 (shceduled for February 10-12 in Lucknow) “because we wanted to partner with them”.

“UP did not come to us. We were so impressed with the vision, thinking and methodology, and proactive working style of Yogi Adityanath that we ourselves proposed to be a part of the summit since India’s progress is not possible without UP’s development,” Bajaj said.

State Bank of India MD Dinesh Kumar Khara said the improved law and order situation in Uttar Pradesh has boosted the confidence of the industrial community and many are keen to set up shop there.

“UP has seen significant development in infrastructure such as roads and electricity, which are the key elements for setting up any industry. The government is also making all efforts to increase its SGDP by expanding agriculture and setting up an investment-friendly environment,” said Khara.

Hiranandani Group’s founder Niranjan Hiranandani pointed out how true Adityanath’s statement was that “all goons are either in jail or out of UP”, and said now there’s no hesitation as UP has become free of crime and corruption, as he and called upon the business fraternity to set up base in UP for a wonderful working experience.

Kotak Mahindra Bank CEO Uday Kotak said the law and order situation in UP has improved hugely under Adityanath, who has earned the trust of not only the people, but also the banking and finance sector.

“Its commendable the way UP with a population of 25 crore has transformed itself with progressive economic policies, nearly two million MSMEs, good infrastructure, sectoral development, and an attractive startup ecosystem,” said Kotak.

SIDBI Chairman Shiv S. Raman said that it is working closely with the UP government and appreciated the recent initiatives of Adityanath to give a major thrust to the MSME programmes in the state.

“We have tied up with IIT-Kanpur for an incubation centre and will join hands with IIT-BHU, launch a greening programme in Moradabad, convert coal furnaces to gas for brass exporters, and organise funds of Rs 1,500 crore for other big projects, including the installation of efficient machinery,” said Raman.

EXIM Bank MD Harsha Bangari referred to the ongoing developments in UP in critical resources or agri development, spiritual tourism, etc., which would help realise UP’s dream of turning into a $1 trillion economy.

Earlier, in his opening remarks, Adityanath threw open his heart and UP’s hearth before India Inc., seeking investments for his state during the UPGIS-2023 in Lucknow.

He said it is the first time since Independence when the ‘Team UP’ visited 16 countries to invite investors for UPGIS-2023, getting proposals worth more than Rs 7.50 lakh crore from foreign players.

Adityanath detailed the potential of commercial, cultural, spiritual and social diversities from the investment point of view, harking back to the days when industries did not feel ‘safe’ in UP, where now there is a sea-change.

He listed Asia’s biggest airport coming up at Jewar, 10 airports, including five international, abundance of land and other facilities for industries, how industrial production or exports did not stop during the pandemic, better connectivity with a network of roads, railways, expressways and waterways in Uttar Pradesh.

UP accounts for 20 per cent of the country foodgrain production and with a little effort, it can go upto 30 per cent, he said, adding that the state is equipped for anything ranging from dairies to defence production, and all possible sectors have immense scope.

He also said the country’s first water-way transport has started from Varanasi to Haldia.

“UP today is a revenue-surplus state. Let’s all join together to build a new UP for a new India,” Adityanath said amid a huge round of applause.

(Quaid Najmi can be contacted at: q.najmi@ians.in & Amita Verma can be contacted at amitaver@hotmail.com)

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