Global Investors Summit: Rs. 56,000 cr investments for Lucknow, most for real estate

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The UP government Tuesday said it signed 262 Memorandums of Understanding (MoUs), worth Rs 56,299 crore, with several companies and received 331 investment proposals during the daylong event to woo local investors in Lucknow ahead of the Global Investors Summit. Most of the investment proposals were in the real estate sector, the government said, adding it was much above the target of Rs 50,000 crore.

Among the top investment proposals included projects by Shalimar Corporation (Rs 2,032 crore), Omaxe Ltd (Rs 1,500 crore), Amravati Developers (Rs 1,400 crore), Rishita Developers (Rs 903 crore), Sapphire Infra Ventures Pvt Ltd (Rs 226 crore), a statement released by the government said.

The event, which was attended by several local businesspersons, was divided into four sessions for different sectors – beginning with industrial, MSMEs, textiles; followed by dairy, food processing and alternative energy, then housing infrastructure and logistics; and concluding with a session on Nivesh Mitra, where investors were informed in detail about the newly launched policies of the government.

Some of the other MoUs signed by the government included investment promises by Aroloy Technology (Rs 300 crore), and Labcam Pathlab (Rs 45 crore). The government said it received investment proposals worth Rs 329 crore in agriculture and related sectors, including about Rs 238 crore in horticulture sector alone.

Deputy Chief Minister Brajesh Pathak, who inaugurated the event, assured businesspersons safety from “gunda-badmash (anti-social elements) and soshan (exploitation)”.

“Before 2017, UP was known for its poor law and order… but since 2017, the Yogi Adityanath-led government has been working to change this image… No one has the courage to harm the traders, I want to guarantee you this… No government officer has the courage to exploit anyone as Chief Minister (Yogi Adityanath) is directly monitoring everything,” Pathak told businesspersons, adding there is no more organised crime in the state.

Minister in-charge of Lucknow district Kapil Dev, who was also present at the event, said that the BJP government was able to put a stop to “palayan” (exodus) of the workforce.

Union Minister Kaushal Kishore also attended the event.