The upcoming Global Investors Summit will play a key role in not just having a huge impact on the Uttar Pradesh economy but on India’s growth as well, state Urban Development and Energy Minister AK Sharma has said.
The state minister said that “foreign investment was necessary for the economy, and the Investors Summit will provide the right plank for it”.
“Uttar Pradesh is a fast developing state, our PM Narendra Modi has been talking about making it a 1-trillion economy, and the upcoming Global Investors Summit will play a huge role in that,” Sharma told PTI on Tuesday.
If we want to increase our GDP by four times then the foreign investment is necessary, and for that, sectors like Infrastructure, Industries, Mining, Agriculture, etc. will play crucial roles, he added.
“In a state like Uttar Pradesh, value addition is necessary for all the sectors, including Agro Processing industries. And that would be possible only when there is an industrial investment.
“The upcoming Investors Summit will provide a plank for investment in the state, and it is a right step taken in the right direction by our Honourable Chief Minister. Our state contributes 8 per cent to the GDP of the nation, so when UP will grow, ultimately the nation will grow,” said the minister.
Sharma said that such summits help to improve and update our system and policies etc.
“In the last few months, a new economic policy was announced, also a new solar policy was announced along with a new bio-fuel policy. Also, we make our policies flexible so that Global investors are attracted to the state. I hope this Summit will have a huge impact not just on the economy of the state but on the economy of the country as well,” he said.
Talking about the recent roadshow in Delhi Sharma said, “The Response of the Global Investors Summit Roadshow in Delhi was beyond imagination. The turnout at the event was five times more than what we had expected. Envoys and diplomats from other countries also participated in that roadshow. The business fraternity was also excited to invest in the state. Everyone appreciated the changing work culture in the state”.
About the sectors the state government is targeting to bring investment in, Sharma said, “We want investment in all the sectors. However, Uttar Pradesh has been more of an agriculture-dominated state till now. Our agricultural produce has been leading in many sectors in the state, also some of the products are exported, Unfortunately, there was no or less value addition to the products”.
“The value of a product increases if it is nicely packaged. A defence corridor is being built in Bundelkhand, our aim is to attract foreign companies to come here.”
“Many ODOP (One District One Product) products also have immense potential of earning global recognition. Similarly, in the health sector, we need manufacturers of health devices as today crores of rupees are spent in importing the health-related machines,” Sharma said.
On the plans for a roadshow in Gujarat on January 19, he said, “I have worked with Honourable PM Narendra Modi in Gujarat. It is his vision to make India a 5 Trillion economy. Gujarat is a state, which has seen rapid development, and it was all due to the economic blueprint prepared by PM Narendra Modi.
“It is PM’s vision for balanced development, when he took the decision to contest from Varanasi, it was his vision to develop other states like Gujarat. We will be seeking investment from Gujarat, and I believe even if a small percentage of investment comes from Gujarat then I think it will help a lot in the development of Uttar Pradesh.”
When asked about the ongoing preparations for G20 meetings in the state, the minister said, “The G20 meetings will be held across many cities in the state, including Lucknow, Varanasi, Agra and Noida. However, when foreign guests come they go to other cities as well”.
“Our Urban Development Department is working towards making cities as Global Cities in the state. It is my own dream that our cities should be developed as world-class cities so that foreign guests do not feel that our cities lack on any front. Our department is working towards making our cities world-class, clean and welcoming foreign guests. The state will be upgraded for sure as we prepare for the G20 Summit and Global Investors Summit,” Sharma said.