GIS 2023: MoUs worth Rs 76,000 crore signed at Lucknow Roadshow

City Gold Corporation, Nexon Energia, Varun Beverages, Haldiram, Dharampal Satyapal and Kent RO System. 79 industrialists from within country and abroad ink MoUs.

New Update

As part of its mission to develop the state of Uttar Pradesh into $1 trillion economy and run-up to the Global Investors Summit to be held in the state capital on February 10-12, the Government held the Lucknow Roadshow at The Centrum Hotel on Wednesday on the instructions of Chief Minister Yogi Adityanath. Leading industrialists from the country and abroad took part in the roadshow while 79 of them signed Memorandums of Understanding (MoU) worth Rs 76,000 crore.

Industrial Development Department Minister Nand Gopal Gupta Nandi addressed eminent industrialists in the programme. He discussed with the entrepreneurs the changes that have taken place in the state in the last 5 years and the investment-friendly policies of the Yogi government while inviting them to invest in the state.

Industrialists appreciate ‘wind of change’ in Uttar Pradesh

The investors who came to participate in the event appreciated the wind of change in the new Uttar Pradesh. During this, Kamlesh Jain, Executive Director and Chief Operating Officer of Varun Beverages, said: “We have 7 plants in UP. The environment of UP is better than anywhere. We had to set up a plant in Gorakhpur. The allotment letter for the land arrived within two and a half months. Uttar Pradesh government is doing great work. We will invest Rs 3400 crore in Uttar Pradesh.

Haldiram Group's Manager Commerce Sanjay Singhania said that after coming to UP, he saw good governance, good policy and good law and order. “We started with one factory, today it has grown to five. We are signing three MoUs. For the first time, we have got such an atmosphere which we cannot compare with anywhere else.” Thanking the Government, he said that it supported entrepreneurs like him at every step.

Nand Kishore Agarwal, president of Crystal Crop Protection Limited, said that today there is a skilled resource in UP. “Keeping this in mind, we will invest Rs 200 to Rs 300 crore here. After Nagpur, Jammu, Haryana, now we will set up plants in UP. For the first time after independence, such a government has come in Uttar Pradesh, which is taking the lead and inviting investors. Earlier, leaders used to take money. Today, they give to set up industry here. Now, there is no problem in UP.”

Mahesh Gupta, President of Kent RO System, said that the Uttar Pradesh government is doing very good work. Due to better law and order, today all the industrialists are willing to set up industries in Uttar Pradesh. Since 2017, there has been a lot of change in the policy of Uttar Pradesh. This is the reason that now investors are turning towards Uttar Pradesh.

Michael Tibolo, Minister of Mental Health and Addiction, Government of Ontario, Canada, remarked: “I am impressed to hear about the work being done in Uttar Pradesh as our country is also engaged in such innovations. Looking for ways to reduce taxes and providing better infrastructure to develop the market are very positive efforts in this regard”, he said.

The 6 big investments proposals at Lucknow roadshow

Six investors from different states of the country have made proposals for big investments in the Lucknow roadshow. These investors include:

Investor Investment (in Rs)

City Gold Corporation- Rs 26000 crore 

Nexon Energia- Rs 15000 crore

Varun Beverages- Rs 3400 crore

Haldiram- Rs 1310 crore

Dharampal Satyapal- Rs 900 crore

Kent RO System- Rs 500 Crore