Uttar Pradesh Investors Summit: Inaugurated by Prime Minister Narendra Modi on Wednesday, Uttar Pradesh Investor Summit was attended by leading industry captains Mukesh Ambani, KM Birla, Gautam Adani and Anand Mahindra among others who collectively pledged to invest Rs 88,000 crore in Yogi Adityanath’s state. President Ram Nath Kovind is expected to grace the Summit on its second day, i.e, 22nd February.
Reliance Industries Chairman Mukesh Ambani said that contribution to Uttar Pradesh’s development is his patriotic duty and promised an additional investment of Rs 10,000 crore through his telecom venture Reliance Jio in the next three years. In his address, Mukesh Ambani said that Reliance Jio is one of the largest investors in Uttar Pradesh with investments of over Rs. 20,000 crore. The two day investor summit has more than 5,000 delegates in attendance, with at least 100 prominent speakers slated to address the gathering.
Sharing that the Aditya Birla Group had been one of the earliest investors in Uttar Pradesh, with initial investments dating back to as early as the 1950s, Kumar Mangalam Birla said that in the next five years, the group plans to invest Rs 25,000 crores in the state. “Going forward, we will be investing in growth of all our major businesses in next five years including telecom, cement and chemical sectors,” Kumar Mangalam Birla told the august gathering.
KM Birla also lauded UP Chief Minister Yogi Adityanath saying that Uttar Pradesh now ranks 7th in the ease of doing business. The chairman of multinational conglomerate, Aditya Birla Group, said that the achievement is commendable, and Yogi Adityanath has shown inexhaustible energy to transform the state.
The business leaders also lauded Prime Minister’s Narendra Modi’s vision and leadership, pointing to the rise in India’s ease of doing business rankings, and other global endorsements of the government’s achievements. Chairman of Adani group, Gautam Adani praised Prime Minister Narendra Modi pointing to the improvement in law and order situation in Gujarat, while he was the CM of the state previously. “We will invest Rs 35,000 crore in the next five years,” Gautam Adani said adding that the Adani Group will stand with the PM in transforming Uttar Pradesh.
Subhash Chandra of Essel Group pledged an investment of Rs 18,750 crore over the next five years. “We had worked out an MoU for larger investment. The chief minister, however, brought it down to Rs 18,750 crore. This is good and workable,” the Chairman of the Essel Group said.
Sharing his association with Uttar Pradesh, Anand Mahindra, the Chairman of Mahindra Group said that he had grown up listening to stories of UP from his mother who hailed from Allahabad. “I have brought my mother’s blessings with me,” Mahindra added.
Anand Mahindra too looks to pump in Rs 200 crore into Uttar Pradesh in the near- term. “Given its size, UP should not compete with other states but with other countries. They should have targets like that of a country,” Mahindra noted adding that if policies supported manufacturing of electric vehicles, the company would set up electric vehicle manufacturing plant in Uttar Pradesh.