Yogi plans another investors' summit in July

Lucknow, March 31 To boost its commitment to industrial development, the Yogi Adityanath government in Uttar Pradesh will organise a ground breaking ceremony for another investors' summit in Lucknow, likely to be held in July.

The government hopes to attract an investment of Rs 10 lakh crore this time.

In an official release, a state government spokesman said that the Chief Minister had asked officials to invite heads of top-of-the-line business houses of the country for the ground-breaking ceremony.

He also asked officials to keep the primary goal of employment generation in the industrial sector in mind while drafting proposals.

According to sources, the state's industrial development policy will be tweaked as the terms of the existing policy will expire this year.

They said the goal of the revised policy will be to achieve higher levels of investor-friendly environment by adding fresh incentives to attract business.

Several new areas of investment, such as drone production and cryptocurrency, are also being explored. Provisions for tailormade response and case-to-case redressal of problems will also be made.

The first investors' summit was organised in February 2018 in which 1,065 MoUs worth Rs 4.65 lakh crore were signed.

Officials in the industry department said the deal translated into actual investments of Rs 51,240.25 crore by 215 investors and 449 investors were in the process of setting up their businesses.

Investments continued even during the Covid-19 pandemic with 96 investors starting projects in the state.

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