GBC to signal a robust economic boost

  • | Sunday | 11th February, 2024

The Yogi Adityanath government is set to mark a significant milestone with the groundbreaking ceremony (GBC) 4.0 scheduled for February 19, as this event will herald the launch of numerous investment projects across the state, signaling a robust economic boost. Over 52 per cent of these projects will be launched in the Paschimanchal region. Additionally, 29 per cent of the investments will be directed towards Purvanchal, 14 per cent towards Madhyanchal, and 5 per cent towards Bundelkhand. Through this ceremony, the Yogi government will initiate investment projects totaling an estimated Rs 10 lakh crore. By implementing such substantial investment proposals within a year of the Global Investors Summit, the Yogi government is poised to achieve yet another milestone in its endeavour to transform the state into a one-trillion-dollar economy. This initiative aims to kick-start over 14,000 projects, potentially creating 33.50 lakh employment opportunities. The ceremony expects to host more than 3,000 participants, including eminent industrialists, Fortune Global/India 500 companies, foreign investor partners, ambassadors/high commissioners and other distinguished guests. According to the available data, the investment initiatives span across various sectors, reflecting a comprehensive economic strategy. The bulk of the investments, totaling 19.24 per cent, are designated for the housing sector. Additionally, investments include 15 per cent in renewable energy, 13 per cent in manufacturing, 10 per cent in information technology (IT) and IT-enabled services, 7.83 per cent in logistics and warehousing, 7.5 per cent in energy, 6.01 per cent in food processing and 5.27 per cent in electronics manufacturing. Furthermore, investments extend to other vital sectors such as agriculture (0.37 per cent), animal husbandry (0.25 per cent), automobile and electric vehicles (0.33 per cent), biofuels/biomass (0.82 per cent), dairy (1.04 per cent), defence and aerospace (0.55 per cent), distilleries (0.84 per cent), financial services (0.12 per cent), food and civil supplies (1.08 per cent), health services (2.73 per cent), hospitality and entertainment (2.78 per cent), infrastructure (0.02 per cent), textiles and handlooms (1.28 per cent), wood-based industries (1.00 per cent) and miscellaneous sectors (0.11 per cent). These projects will start: —   NIDP (Hiranandani Group), Sify Technologies, STT Global, Jackson Limited to establish Data Centres across UP. —   Ashok Leyland and Yamaha to set up automobile and EV projects across UP. —   NTPC, Greenko Group, Torrent Power, ACME Group, JSW Energy PSP Six and Tusco to set up thermal, hydro power and solar projects across UP. —   M3M India, INGKA, The House of Abhinandan Lodha to construct residential and retail properties in UP. —   Tata Technologies to upgrade 150 government ITIs. —   Air India SATS Airport Services and the Sharaf Group to respectively establish an air cargo terminal, cold storages and logistics park.  —   Tarq Semiconductors, Dixon Technologies, Haier, Addverb Technologies and Kent RO Systems to manufacture electronics products across the state. —   Sharda Group of Institutions, Yashoda Hospitals and Apollo Hospitals to set up super speciality hospitals across UP. —   AB Mauri & Varun Beverages to set up food processing plants in UP. —   Adani Defence Systems and Technologies, Ancor Research Labs, Aerolloy Technologies to invest in defence and weapons manufacturing. —   Banas Dairy and CP Milk and Food Products to invest in the dairy industry of UP. —   Century Pulp and Paper, Dalmia Cement Bharat, M/S Indorama India, Rimjhim Ispat and Fun Zoo Toys to set up various manufacturing units across the state.

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