UP Investor Summit: Will promise convert into performance?

Yogi’s event has generated impressive proposals: he will have to work on translating them into reality

GN Bureau | February 22, 2018


#Business   #Narendra Modi   #Gujarat   #Uttar Pradesh   #Yogi Adityanath   #UP Investor Summit   #Economy  
Uttar Pradesh CM with Mukesh Ambani of the Reliance group
Uttar Pradesh CM with Mukesh Ambani of the Reliance group

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.



 

Comments

 

Other News

Sustaining development in the time of pandemic

The continuing spread of COVID-19 has emerged as the biggest roadblock to development in 2020. Citizens across the globe have been breathing an air of panic, fear, and confusion, not knowing what lies ahead. The pandemic has hit some communities and countries harder than the others, requiring everyone to u

"Mumbai Commissioner shameless in taking credit for Covid numbers"

Senior BJP leader Kirit Somaiya has blasted BrihanMumbai Municipal Corporation (BMC) commissioner IS Chahal for taking credit for reducing the number of coronavirus infections in the in the slum sprawl of  Dharavi, and wondered how could the authorities make boasts when 10,000-plus people have died.&n

Mumbai civic body hiding real Covid-19 toll: Kirit Somaiya

Firebrand BJP leader Kirit Somaiya has blasted BMC Commissioner, IS Chahal, for claiming credit for reducing numbers of coronavirus cases in Mumbai city and said that BMC’s own Sero Survey has revealed that 57% slum dwellers have developed immunity which is why the cases are coming down.  

How learning is set to change with New Education Policy

With the union cabinet’s approval for the much-discussed New Education Policy (NEP), learning processes in the country are set to undergo radical changes. The cabinet chaired by prime minister Narendra Modi on Wednesday approved the NEP 2020, making way for large scale, transformationa

India’s digital empowerment and net neutrality

The Fourth Industrial Revolution has steadily amalgamated information communication technology (ICT) in every aspect of modern human life, having a profound impact on economic and social systems by altering business structures and consumer habits. About two decades back, ICT infrastructure was an augmented

Governance Now 5th PSU IT Forum

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter