Yogi’s event has generated impressive proposals: he will have to work on translating them into reality
GN Bureau | February 22, 2018
The UP investors’ summit has received an overwhelming response. On the opening day, Wednesday, 1,045 memorandums of understanding (MoUs) worth Rs 4.28 trillion were signed at the summit – and as it closes today the figure is only going to go up.
With big-ticket investments from Adani to Birla and Reliance Jio to Hinduja, the state hopes to shed its ‘Bimaru’ tag. Investment proposals have been made across various sectors like energy, logistics, solar power, roads and agriculture.
Top investment proposals at the UP Summit
Adani Group: Rs 35,000 crore
Adita Birla Group: Rs 25,000 crore
Essel: Rs 18,000 crore
Reliance Jio: Rs 10,000 crore
The summit, a first by the Yogi Adityanath government, is on the lines of state investor conferences, like Vibrant Gujarat, Magnetic Maharashtra, Sunrise Andhra Pradesh and so on. Gujarat and Maharashtra have attracted huge investment proposals at their investor events.
However, quite often, such investment events make big headlines and little happens after that. The reality of massively promoted and hyped summits tells a sad story. Though the events promise impressive numbers in terms of investments, the materialisation of these projects on the ground remains dismal.
For example, Vibrant Gujarat, held every other year since 2003, has always made news for attracting MoUs running into astronomical amounts, but the actual investment flow is estimated to be around five percent of the promised.
Only time will tell whether the impressive numbers promised at the UP investor summit will translate into reality and script a new history for the state.
By Sudhir Chaturvedi, Executive Board Member & President- Markets, LTIMindtree Corporate governance has always been a critical issue for businesses in India. As part of its ongoing digitalization drive, the Ministry of Corporate Affairs (MCA) recently launched the latest
Life is slowly limping back to normalcy in Bahanaga, a block headquarters town in Odisha’s Balasore district that witnessed one of the deadliest rail disasters of the century. Train operations have resumed as the Central Bureau of Investigation (CBI) has begun the probe into the accident that claimed
The Essential U. R. Ananthamurthy Edited by N. Manu Chakravarthy and Chandan Gowda Aleph Books, Rs 899, 312 pages
Early Bird and the Rainmatter Foundation have announced five bird walks, led by naturalists, across India on June 10. The walks, to be held in Agartala, Dehradun, Mysore, Panjim, and Tirupati early in the morning, are part of the Rainmatter Foundation’s Walking Lightly campaign, being observed throug
The Ministry of Environment, Forest and Climate Change, Government of India organized the World Environment Day on Monday with a thrust on Mission LiFE. The concept of LiFE, i.e., Lifestyle for Environment was introduced by prime minister Narendra Modi at the World Leaders` Summit in Glasgow at COP26, when
Green Banking is an initiative taken by the banks to promote environment-friendly practices and reduce carbon footprint of their activities. Green financing (a part of ‘Green Banking’) is a broad term that can refer to a financial investment flowing into sustainable development projects and ini