UP has become prime investment destination: CM Yogi

Lucknow (Uttar Pradesh) [India], August 22 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath on Monday said that the state has become a prime investment destination within the country, drawing substantial domestic tourism and securing significant funds from banks for industrial growth.

The Chief Minister highlighted the latest RBI and NITI Aayog reports to point out the development achievement of the state.

The CM was launching the Micro Entrepreneur Accident Insurance Scheme on the occasion of World Entrepreneurship Day on Monday. Financial support of up to Rs 5 lakh will be provided to the micro-entrepreneurs under the scheme.

Additionally, Chief Minister Adityanath disbursed a check of Rs 1137 lakh, the first instalment, to developers overseeing private industrial park projects in Jhansi, Hapur, and Sambhal under the Pledge Park initiative. He extended his greetings for World Entrepreneurship Day and Nagpanchami as well.

Highlighting the growth in Uttar Pradesh’s exports, Chief Minister Yogi Adityanath underscored that this transformation was not abrupt, but a result of well-guided efforts. He credited Prime Minister Narendra Modi’s inspiration and direction along with the state government’s inclusive approach that assured security to all investors without discrimination. As a consequence, Uttar Pradesh is swiftly gaining recognition as a top-tier destination on both the national and global fronts, said the Chief Minister. 

According to CM Yogi, the foundation for this progress was laid in 2018 when PM Modi inaugurated the state’s inaugural Geographic Information System (GIS). Another pivotal step was the initiation of the One District One Product (ODOP) scheme on the state’s first foundation day.

This scheme aimed to rejuvenate neglected sectors that were grappling with issues such as pollution, power shortages, and neglect from various departments. The strategic decision to tap into Uttar Pradesh’s strengths, particularly its MSME clusters, played a key role in reinvigorating the economy.

These clusters were on the verge of decline in various sectors. However, the concentrated efforts over the last six years have borne fruit with a threefold increase in exports. This achievement, even amidst the challenges posed by the COVID-19 pandemic, further solidifies the state’s trajectory toward potentially becoming a trillion-dollar economy within the next five years.

Referring to recent RBI and NITI Aayog reports, the Chief Minister stated that these reports, received within the last week, significantly demonstrate the ongoing transformation in Uttar Pradesh. He urged sceptics to recognize that the state has become the country’s first to ensure security.

Uttar Pradesh is swiftly emerging as a major investment hub, excelling in banking services for entrepreneurs and drawing the highest number of tourists. The Chief Minister pointed out that the state’s systematic efforts across sectors are now yielding visible outcomes.

The Chief Minister outlined the significant accomplishments in park development. He said that the MSME department is spearheading the development of private industrial parks for the first time. This move opens the door for government incentives to be extended to three new parks. T

A loan provision at a nominal one per cent per annum rate is in place for park development at Rs 50 lakh per acre. Of note, 75 per cent of plots in the forthcoming park will be reserved exclusively for MSME units.

It has been established that entrepreneurs purchasing land in private parks will enjoy 50 per cent stamp duty exemption along with the benefits of the capital and other subsidies outlined in the MSME Policy 2022.

The state government’s pioneering Pledge Park Scheme is the first of its kind in the country, poised to offer significant advantages to entrepreneurs.

While reflecting on the unprecedented challenges posed by the COVID-19 pandemic, the Chief Minister emphasized Uttar Pradesh’s resilience. Despite initial doubts about the state’s potential, UP emerged as a success story under the guidance of Prime Minister Narendra Modi, he remarked.

With a remarkable response strategy, the state achieved the lowest death rate, and infection rate, and witnessed substantial vaccination rates. The efforts earned UP recognition as a state that effectively navigated the crisis, ultimately leading to a surplus in revenue.

Major infrastructure projects are in progress, spanning waterways, expressways, airports, enhanced rural connectivity, and investment-driven initiatives like medical device parks and pharma plastic parks.

CM acknowledged the paradigm shift within the state, as UP evolved from a region grappling with challenges just six years ago. Presently, North India’s first data centre in UP stands as a symbol of technological advancement, while the resounding buzz of UP’s Film City has reached Mumbai, capturing the attention of directors, producers, and actors eager to partake in its growth.

The state’s conducive business environment is another notable factor contributing to its newfound appeal.

Furthermore, the Chief Minister mentioned that 30 crore devotees visited UP for religious tourism, underscoring the state’s expanding possibilities. CM highlighted the ongoing transformation of the seemingly impossible into attainable realities.

The government’s proactive approach is manifest in significant developments, such as the construction of Asia’s largest airport in Jewar at a site previously marked by conflict. Former scenes of agitation over minor matters have given way to notable achievements like the completion of the Purvanchal and Bundelkhand Expressways.

Notably, investments in the Defense Corridor and the construction of the Ganga Expressway to connect the national capital with Bundelkhand and link the west with the East hold the promise of opening fresh opportunities.

Chief Minister Yogi Adityanath has introduced a year-long opportunity for entrepreneurs to register both online and offline. Uttar Pradesh houses 96 lakh MSME entrepreneurs, with 97 per cent operating as micro-enterprises with venture capital under Rs 5 crores and an annual turnover below 40 lakhs.

Those registered for GST and with a turnover exceeding 40 lakhs are eligible for the accident insurance cover of Rs. 10 lakhs by the government, providing security against accidents or 100% disability related to GST.

A pioneering step involves offering an Rs. 5 lakh accident insurance cover to 90 lakh MSME entrepreneurs for the first time. Online and offline registration options will remain available throughout the year. The One District One Product (ODOP) initiative identifies 75 products corresponding to as many districts, promoting local businesses without using government land.

CM Adityanath also urged MSME entrepreneurs to participate in the ongoing skill mapping of migrant workers, an effort that has already employed 40 lakh individuals in their home districts and villages. The Chief Minister underscored the importance of immediate registration for eligible entrepreneurs.

The Chief Minister revealed that in 2018, on the inaugural Foundation Day, the UP government launched the One District One Product (ODOP) initiative. This was followed by the introduction of the Vishwakarma Shram Samman Yojana on the second Foundation Day in 2019.

Both these schemes have gained significant recognition within the country. The Vishwakarma Shram Samman Yojana not only honours traditional artisans but also focuses on providing training, and tool kits, and fostering self-reliance, in line with Mahatma Gandhi’s vision of Gram Swaraj.

CM expressed his confidence that the legacy of these initiatives will flourish, whether it’s the intricate wooden crafts of Saharanpur, the skilful brass works of Moradabad, the renowned glass industry of Firozabad, or the intricate chikan workmanship of Lucknow.

He affirmed that their global expansion is imminent. Despite challenges in meeting demand, he stressed the importance of presenting these crafts more effectively, emphasizing the potential of these handicrafts to captivate the world’s attention.