PM Modi to inaugurate U.P. Investors’ Summit as State eyes to become $1 trillion economy

The event is aimed at showcasing the State as a major investment destination.

February 09, 2023 07:22 pm | Updated 07:22 pm IST - LUCKNOW

Prime Minister Narendra Modi | File Photo

Prime Minister Narendra Modi | File Photo | Photo Credit: ANI

Prime Minister Narendra Modi will inaugurate the three-day Uttar Pradesh Global Investors’ Summit (GIS)-2023 in Lucknow on Friday. The summit is aimed at showcasing the State as a major investment destination. It will have 34 sessions with 10 sessions on day one, 13 on day two and 11 on day 3. Apart from the PM, the inaugural session will be addressed by Defence Minister Rajnath Singh, Chief Minister Yogi Adityanath and noted industrialists like Mukesh Ambani, Anand Mahindra, K. Chandrasekaran and Kumar Mangalam Birla. The event, which is considered critical for U.P. in its bid to become a $1 trillion dollar economy will witness the participation of over 20 Central Ministers with countries like Denmark and Singapore partnering in various sessions.

Uttar Pradesh initially set the target to attract investment proposals of ₹10 lakh crore through the summit but later revised it to ₹17.3 lakh crore. The roads leading to the venue have been repaired and expanded at various places on Shaheed Path, Lohia Path, and the road leading to Shaheed Path from Samtamulak crossing in Lucknow.

In the run-up to the summit, the State government brought many new sector-wise policies or upgraded old policies to attract investment. The policies were in sectors like textile, food processing, tourism, culture and real estate, among others. In all these policies, the government provided higher sector-specific incentives to investors in setting up units and also offered them land bank for the purpose of getting more Foreign Direct Investment (FDI).

For the success of the GIS-2023, the State government sent delegations led by Cabinet Ministers to major foreign and Indian cities, for the purpose of interacting with industry leaders and private sector. It organised road shows in foreign cities like London, New York and Dubai apart from Indian cities like Ahmedabad, Delhi, Mumbai and Chennai, for publicising the GIS-2023.

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