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Huge Investments Show a New Era of Development in Uttar Pradesh

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December 13, 2016

“Uttar Pradesh government has made sector wise investor-friendly policies and implemented them which have led to many investors flocking to the state in large numbers.
~ Akhilesh Yadav
Chief Minister, Uttar Pradesh

 

Uttar Pradesh, the most populous state in the country with a 200 million consumer base contributes more than 8 percent to India’s GDP. In the past few years, the state charted a success story of socio economic development by maintaining a right balance between industrialization and human development. Under the leadership of Akhilesh Yadav, the state has evolved across sectors providing investor friendly climate for sustainable economic growth.

In an effort to boost investor friendly climate in Uttar Pradesh, the Akhilesh Yadav government has established a nodal agency called Udyog Bandhu for facilitating investment in the infrastructure, industrial and service sectors.

The state has now become a corporate hub with a number of domestic players and MNCs establishing their facilities here. Through the ongoing efforts of CM Akhilesh Yadav, the state has attracted many corporate giants such as Tata Trusts, HCL, Infosys, Times Group, Clinton Healthcare, Bill and Melinda Gates, Fortis, ITC, Reliance, Lava, Ola, Amul, Patanjali, Samsung etc.

Let’s have a look at some of the big brands that have found homes in Uttar Pradesh:

 

HCL Technologies

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HCL founder Shiv Nadar and the state government of Uttar Pradesh have signed an MoU for developing an IT city spanning across 100 acres at an investment of Rs 1500 crores. The project has been granted a Special Economic Zone (SEZ) status. The company has announced commencement of its talent sourcing, training and hiring program to create 1,000 local jobs for freshers.

 

Lava International Limited

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One of the fastest growing multi-national mobile headset company Lava International have signed a Flexi-Contract with the Uttar Pradesh Skill Development Mission (UPSDM) to train 10,000 students/trainees in four years and then hiring 80 percent of them. The company has set up its two manufacturing units at Noida with a total production of 2.50 million mobile phones per month.

For growth in IT sector, 7 other MoUs worth Rs 5,000 crores have been signed through which 15, 000 people will be provided with employment.

 

Tata Trusts

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Partnership between Tata Trusts and the state government of Uttar Pradesh has resulted in creation of community development programmes in sectors like health and education. Tata group patriarch Ratan Tata has described Akhilesh Yadav as a ‘Progressive CM’ who has taken the state forward to progress.

Besides this, Tata Group and UP government recently signed an MoU for establishing electronic Point of Sales |(e-POS) machines in 675 fair price shops in Lucknow.

 

Patanjali Group of Institutions

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Uttar Pradesh government along with Swami Baba Ramdev, recently laid the foundation of Patanjali Food and Herbal Park worth Rs 1666.80. The park will provide direct employment to about 8,000 people and indirect employment to 80, 000 people.

 

Samsung

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Uttar Pradesh government has signed an MoU with Samsung for setting up a manufacturing unit in Uttar Pradesh. Samsung has invested Rs 2,000 crores for the production of mobile phones and electronics in the state.

 

Bill and Melinda Gates Foundation

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An agreement of cooperation was signed between Uttar Pradesh government and Melinda Gates foundation in 2012, for mother and child welfare, nutrition and immunity development and prevention of infectious diseases. Along with these efforts, the foundation is also helping to increase agricultural productivity and providing financial aid to the poor.

 

Medanta Medicity

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Medanta Group has invested Rs 1,000 crores in Uttar Pradesh for the super speciality hospital ‘Medanta Awadh’ in Lucknow. This 1,000-bed hospital would have 30 operation theatres, 300 critical care beds and treatment facilities for over 20 critical diseases. Akhilesh Yadav government is extending all possible help for it with the aim of making the city a medical capital of the state.

 

Rockefeller Foundation

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The Rockefeller Foundation has launched US$75 million “Smart Power for Rural Development” initiative that aims to bring electricity to the villages of Uttar Pradesh in the next three years.

 

Bin Zayed Group

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Uttar Pradesh government has signed an MoU with Bin Zayed Group of worth Rs 18,000 crores in the state. This investment will fund Samajwadi Purvanchal Expressway connecting Lucknow to Ballia.

 

Akhilesh Yadav has projected Uttar Pradesh as “The Land of Unlimited Potential” by overcoming the challenges of large population size and huge geographical expanse. The government has made sector wise investor friendly policies in the areas of electronics, food processing, infrastructure, IT, power, solar energy, etc. and all this has resulted in getting tremendous response from industrialists and entrepreneurs, having immense faith in Uttar Pradesh.

 

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