LUCKNOW: Having attracted investment proposals worth over Rs 35 lakh crore during the UP Global Investors’ Summit in February 2023 (UPGIS-2023), the Uttar Pradesh government is now gearing up to get the projects off the ground in the proposed groundbreaking ceremony (GBC) in September-October, this year.
With the preparations for the ceremony is already on, the state government has contacted about 8,000 investors for participation and has shortlisted more than 5,000 MoUs worth around Rs 7.86 lakh crore for realisation.
Uttar Pradesh State Industrial Development Authority (UPSIDA) is all set to implement investment proposals worth Rs 40,000 crore in the first groundbreaking ceremony. At the same time, the process of grounding another set of MoUs worth Rs 42,000 crore in the GBC is underway.
In fact, UPSIDA was given the highest investment target of Rs 1.60 lakh crore, of which 224 MoUs worth more than Rs 82,000 crore have been shortlisted for execution so far. As per the sources in Invest UP, the nodal agency looking after the processing of investment proposals, MoUs were shortlisted in coordination with different departments which were directed by the state government to contact and hold discussions with the investors ready to execute their MoUs in the first ground-breaking ceremony.
As per the official sources, UP government has set a target to implement MoUs worth more than Rs 10 lakh crore in the state through the ground-breaking ceremonies. Different departments, which received the investment proposals during investors meet, were given specific targets for the ground-breaking ceremony.