A galaxy of top industrialists including Gautam Adani and Kumar Mangalam Birla will attend a mega industrial pitch of more than Rs 75,000 crore in Uttar Pradesh next month.
The Yogi Adityanath government 2.0 will organise a high octane third groundbreaking ceremony on June 3 to launch big investment projects pertaining to different sectors.
Prime Minister Narendra Modi will inaugurate the event in Lucknow in the presence of top industry captains viz. Adani, Birla, Sanjiv Goenka, Sajjan Jindal, Sudhir Mehta among others.
Tata Sons chairman Natarajan Chandrasekaran as well as the Vedanta Group chairman are also expected to attend the function.
In the previous two groundbreaking ceremonies in less than five years, the Yogi government had already launched projects worth more than Rs 1.25 trillion.
All these projects are part of the investment proposals worth nearly Rs 4.68 trillion, which the state government had garnered during the two day investors summit in Lucknow in February 2018. It was also inaugurated by Modi.
Meanwhile, among the major projects to witness formal launch on June 3 include Rs 4,900 crore and Rs 9,100 crore proposed data centres of Adani and Hiranandani groups respectively, apart from Rs 2,100 crore software development centre of US software major Microsoft.
Besides, civil works on Rs 600 crore cement plant of Dalmia Group in Mirzapur, and a detergent plant of Hindustan Unilever Limited (HUL) would also begin.
According to the UP industrial development department officials, the information technology (IT) and electronics manufacturing sector projects comprise nearly Rs 21,000 crore of the total investment pool of Rs 75,000 crore.
Besides, projects relating to the micro, small and medium enterprises (MSME), textile, tourism, energy, food processing and pharmaceutical spheres would be launched.
“The Yogi government 2.0 is walking an extra mile to ensure private investment picks up pace. This would generate fresh employment opportunities for youth and contribute to filling the state coffers as well,” a senior government official said.
He noted the ultimate vision of the UP becoming a trillion dollar economy by 2027 could be achieved only when the economic activities gain greater traction and momentum across sectors and geographies.
Moreover, the UP government is looking to leverage the large network of expressways crisscrossing the state to provide a leeway in attracting private sector companies to set up shop.
Other mega projects such as defence corridor, international airports and tourism hubs are other attractions which the Yogi government wants to showcase to the national and international investors to fortify ‘Brand UP’ globally.