PM Modi announces Rs 20,000 crore defence production corridor in UP

LUCKNOW: One of the two defence industrial corridors proposed in the Union Budget will be built in Bundelkhand, bringing investment of Rs 20,000 crore to the most backward region of Uttar Pradesh and creating 2.5 lakh jobs, Prime Minister Narendra Modi announced at the UP investors’ summit here on Wednesday.

Modi had earlier inaugurated the two-day mega summit in the presence of governor Ram Naik, Union home minister Rajnath Singh, chief minister Yogi Adityanath and a host of Union and state ministers, along with several top industrialists and foreign delegates.

Describing the two-day UP investors’ summit as the foundation for building a new Uttar Pradesh, Prime Minister Narendra Modi said the corridor would open up development in the state by linking the Agra, Aligarh, Jhansi and Chitrakoot belts.

“UP has the potential of becoming the growth engine of the country with rich natural resources and vast manpower with more than 66% youth, but unfortunately there was an atmosphere of fear and insecurity which discouraged investors from coming to the state,” Modi said.

Responding to CM Yogi Adityanath’s announcement that 1,048 MoUs, entailing an investment of Rs 4.28 lakh crore, have already been signed between investors and UP government at the summit, the PM cautioned him saying he would like the CM to personally monitor the progress of the investment proposals to ensure that they materialise.

Modi also said the Poorvanchal and Bundelkhand expressways would transform the economy of the two regions as farmers and traders would get national and international connectivity.