PM to launch 14,619 projects worth over Rs 10 lakh crore at GBC@IV today

  • | Monday | 19th February, 2024

In a significant stride towards realising the ambitious goals set by the Yogi Adityanath government to elevate Uttar Pradesh into a one-trillion-dollar economy, Prime Minister Narendra Modi is set to inaugurate the launch of as many as 14,619 projects worth Rs 10,23,537 crore during the fourth groundbreaking ceremony (GBCIV) at the Indira Gandhi Pratishthan here on Monday. This initiative is poised to create approximately 34 lakh job opportunities across the state, marking a significant leap towards economic growth and prosperity. What sets this investment drive apart is its comprehensive reach, spanning across all parts and districts of Uttar Pradesh. Notably, the Paschimanchal region will witness the initiation of 52 per cent of these investment projects, followed by 29 per cent in Purvanchal, 14 per cent in Madhyanchal, and 5 per cent in Bundelkhand. Prime Minister Modi, accompanied by Chief Minister Yogi Adityanath, will also tour the exhibition showcasing these transformative projects. Following this, he will address the citizens of Uttar Pradesh from the main GBCIV hangar. During the ceremony, Prime Minister Narendra Modi will highlight the governments accomplishments and share insights with potential investors. On this occasion, Chief Minister Yogi will also present his views regarding the suitable environment for industries in Uttar Pradesh as well as future plans. UPs Industrial Development Minister Nand Gopal Gupta Nandi will extend a cordial welcome to Prime Minister Modi. Additionally, notable figures including Dheeraj Hinduja, Chairman of the Hinduja Group, JP Park, CEO of Samsung South West Asia, Susanne Pulverer, CEO of INGKA, Jinal Mehta, MD of Torrent Group, and Jalaj Mehta, Chairman of Adverb Technologies, will share their insights on the states industrial progress. Defence Minister and Lucknow MP Rajnath Singh will provide his perspective. Following these discussions, Prime Minister Modi will unveil the projects digitally, accompanied by a screening of a short film showcasing the governments achievements. The event is expected to host approximately 4,000 participants from around the globe, comprising esteemed industrialists, Fortune Global/India 500 companies, foreign investor partners, ambassadors and high commissioners, and other distinguished guests. Ten distinct pavilions have been erected at the exhibition site, showcasing a diverse range of sectors, including artificial intelligence (AI), textile, data centre/electronics and information technology (IT), warehouse and logistics, Film City, Invest UP/top investors, medical devices, electric vehicles (EV) and renewable energy, and defence/aerospace. On the sidelines of the GBCIV on Monday, a grand exhibition will also be organised in which more than nine special sectors will be showcased. Spanning across 1,250 square metres, this three-day exhibition will feature AI pavilion, textile, logistics and warehousing, defence and aerospace, data centre/electronics and IT, EV and renewable energy, Film City, medical equipment and One District One Product initiatives. Moreover, sectoral sessions will be organised, shedding light on Uttar Pradeshs current status and future trajectory in key areas such as artificial intelligence, foreign direct investment (FDI) and corporate social responsibility (CSR). These sessions aim to provide insight into the states evolving landscape and its strides towards progress and innovation. These investment projects will unfold across all 75 districts of the state, with 19 districts surpassing their investment targets by more than 100 per cent. Among them, Etah leads with an impressive 354 per cent, followed by Sitapur at 145 per cent, Shahjahanpur at 127 per cent and Sonbhadra at 121 per cent. Other districts such as Chandauli, Muzaffarnagar, Moradabad, Mirzapur and Hardoi have also exceeded their targets significantly. Investment inflows are diversifying across a spectrum of sectors, with the housing sector commanding the largest share at 19.24 per cent. Renewable energy follows closely with 15 per cent, while manufacturing has received 13 per cent, IT and IT enabled services 10 per cent, logistics and warehousing 7.83 per cent, energy 7.5 per cent, food processing 6.01 per cent,  electronics manufacturing 5.27 per cent and education 2.96 per cent. Furthermore, investment projects will also be started in agriculture (0.37 per cent), animal husbandry (0.25 per cent), automobiles & electric vehicles (0.33 per cent), biofuels/biomass (0.82 per cent), dairy (1.04 per cent), defence & aerospace (0.55 per cent), distilleries ( 0.84 per cent), financial services (0.12 per cent), food & civil supplies (1.08 per cent), health services (2.73 per cent), hospitality & entertainment (2.78 per cent), infrastructure (0.02 V), textiles & handloom (1.28 per cent), wood-based industry (1.00 per cent) and other sectors (0.11 per cent). The upcoming groundbreaking ceremony marks the fourth such event under the stewardship of the Yogi government, following three successful precedents. These ceremonies have been instrumental in ushering in transformative investments, totaling over Rs 2.10 lakh crore, across various sectors in the state. The journey began with the landmark UP Investors Summit in February 2018, where 1,045 MoUs amounting to Rs 4.28 lakh crore were inked, laying a solid foundation for subsequent endeavours. In July 2018, the first groundbreaking ceremony heralded the launch of 81 projects with an investment of Rs 61,792 crore. This momentum continued into July 2019, with the second ceremony witnessing the launch of nearly 290 projects totaling Rs 67,202 crore. In June 2022, the third edition of the groundbreaking ceremony marked another significant milestone, as over 1,400 projects with an investment exceeding Rs 80,000 crore were launched.

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