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

Amit Shah on India’s languages: What else he said

Home minister Amit Shah’s remark on the need for a single national language has rightly sparked a debate, but the headlines missed much in his speech about language, culture, and identity. Giving away Rajbhasha Gaurav Puraskar and Rajbhasha Kirti Puraskar awards on the occasion of Hin

On A Personal note with musician Apache Indian

Renowned British singer, songwriter and reggae DJ, Apache Indian (originally known as Steven Kapoor) shot to fame with his style of music which came to be known as bhangramuffin (also called bhangragga) – a mix of bhangra, reggaemuffin and traditional dance hall in the early 1990s. His style changed

Traffic fines: Find the sweet spot between penalty and self-goal

When close to five lakh people are killed in road accidents every year in India, road transport minister Nitin Gadkari should have been complimented on his not-so-populist move to impose higher fines for traffic violations. Instead, many people are unhappy and several states – mostly ruled by the BJP

A unique project gives new life to a chaotic Mumbai fishing village

Traditional fishermen or Kolis; synonymous with feasting, song and dance; are the original inhabitants of Mumbai. For generations, they have loved their vocation and prided in it. But their work and lifestyle are facing threats from reclamation, land acquisition by builders, lack of sustainable fishing pra

Modi pledges higher target for degraded land restoration

Addressing the Conference of Parties (COP14) to the United Nations Convention to Combat Desertification (UNCCD), Prime Minister Narendra Modi on Monday announced that India would raise its target of the total area that would be restored from its land degradation status from 21 million hectares to 26 millio



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter