"Projects worth over Rs 5 lakh crore to be launched in Nov with GBC@5": UP CM Yogi Adityanath

Lucknow (Uttar Pradesh) [India], September 18 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath has instructed the initiation of preparations for the fifth Ground-breaking Ceremony (GBC), scheduled for November.

As per the release, this event will showcase private investment projects with a cumulative value exceeding Rs 5 lakh crore.

Chairing a high-level meeting of the Industrial Development Department, he noted that four GBCs held in the past 8.5 years have already implemented projects worth Rs 15 lakh crore, creating jobs for more than 60 lakh youth, as per the release. He instructed departments to ensure timely action and regular monitoring of every investment proposal.

While reviewing proposals for land allocation to various private industrial units, the Chief Minister instructed that the process of land acquisition should be carried out in harmony.

Everyone has an emotional bond with their land; it is their lifelong capital. If land has to be acquired in the interest of the state, they must receive fair compensation. There should not be a single complaint of exploitation. With dialogue and coordination, this task can be easily achieved. All industrial development authorities should consider increasing the current compensation rates for land acquisition as per the needs of their region. This is the need of the hour and in the farmers best interest, the CM stated.

Emphasising export promotion, Chief Minister Yogi Adityanath called for developing a FinTech hub in Noida, Greater Noida, or the Yamuna Authority region, with large banking institutions setting up offices there. He emphasised the need for targeted efforts to increase electronic product exports.

The CM also directed that industrial land allotments be cancelled if left underutilised for three years and reallocated to other investors.

Chief Minister Yogi Adityanath stressed the need to make the Nivesh Mitra and Nivesh Sarathi portals simpler and more user-friendly, ensuring that investors--big or small--do not have to visit government offices. He also directed that the GST reforms taking effect from September 22 should benefit every citizen, expressing confidence that they will directly help the common man.

At the meeting, the Chief Minister also discussed the plan to develop special employment zones dedicated to Sardar Vallabhbhai Patel in every district. He said that step by step, these employment zones must be developed in at least 100 acres in every district, and land availability for this must be ensured. These zones will become hubs for industry, investment, entrepreneurship, innovation, skill development, and employment. This plan will become a model for the entire country.

At the meeting, it was informed that for the year 2025-26, a target of Rs 5 lakh crore GVA has been set for the manufacturing sector. For this, registration of 8,000 new and existing units under the Factories Act is required. So far, 1,354 units have been registered. The Chief Minister gave instructions to accelerate the process of labour reforms and to activate unused industrial plots. (ANI)

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