Narendra Modi's reassurance to corporates will pave the way for development in Uttar Pradesh, says Assocham

Lucknow: Prime Minister Narendra Modi's reassurance to the industry will not only allay industries' concerns but also help in the country's inclusive and sustained growth, according to industry body Assocham.

"The prime minister's reassurance to the corporate sector will boost confidence and allay industries' concerns. This will go a long way in achieving the common desire of inclusive and sustainable growth," Assocham president Sandeep Jajodia said in a statement on Monday. "Engagement with industry will pave the way for large investments in diversified sectors, spur job creation, promote rapid industrialisation and infrastructure development in Uttar Pradesh," he added.

Prime Minister Narendra Modi with Chief Minister of Uttar Pradesh Yogi Adityanath. PTI

Prime Minister Narendra Modi with Chief Minister of Uttar Pradesh Yogi Adityanath. PTI

His remarks came a day after the prime minister reached out to the business community at an event here, looking to reassure industrialists that they have a significant role to play in nation building. The Assocham president also suggested that the UP government form an inter-ministerial committee to take stock of the progress in investment proposals attracted by the state in investors' summit held earlier this year.

"A task force may be constituted to review the status of implementation of the investment projects as actual benefits of an investment are only derived upon completion," he said. He added that such an initiative would further repose the business community's trust in the government and help the state in attracting private investors. Assocham also suggested that the Yogi Adityanath government conduct countrywide road shows to draw a large pool of investments, and simultaneously keep monitoring on-ground implementation of investment projects to create employment opportunities for the youth of the state. "The state government should further strive to improve the industrial and business ecosystem to come on a par with states like Gujarat, Odisha, Maharashtra and others," said the Assocham president.

The prime minister on Sunday launched 81 investment projects worth over Rs 60,000 crore for Uttar Pradesh at a ground-breaking event. The projects are expected to give a big boost to industrialisation in the state besides creating over two lakh new jobs. The event, which Modi described as a "record-breaking", came after an investors summit in February this year.

Speaking at the event, attended by captains of the industry, Adityanath said that "five months ago, we had signed MoUs worth Rs 4.68 lakh crore during the investors' summit in presence of the Prime Minister. We have got more than Rs 60,000 crore investment on ground during a short period, which is important for UP. Investments worth approximately Rs 50,000 crore are in the pipeline, which too would be started soon," he said.


Updated Date: Jul 30, 2018 15:32 PM

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