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UP Investors Summit 2018 LIVE: PM Modi announces defence industrial corridor in UP's Bundelkhand region

 BusinessToday.in        Last Updated: February 21, 2018  | 17:32 IST
UP Investors Summit 2018 LIVE: PM Modi announces defence industrial corridor in UP's Bundelkhand region

Prime Minister Narendra Modi on Wednesday inaugurated the two-day 'UP Investors Summit', which is in line with the summits held by states like Gujarat (Vibrant Gujarat) and Maharashtra (Magnetic Maharashtra Summit) to attract potential investors. While inaugurating the event, PM Modi said the foundation of UP has been made, and that it's time to build it a magnificent state.

Reliance Industries chairman Mukesh Ambani, speaking during the event, said Reliance Jio would be present in every single village of the state by the 2018-end. He also promised to invest over Rs 10,000 crore in the state through Jio in the next three years, saying contribution to UP's development is his "patriotic duty". Other top industrialists like Gautam Adani, Anand Mahindra, Subhash Chandra, N. Chandrasekaran, Kumar Mangalam Birla and Shobana Kamineni will also speak during different sessions.

The UP Investors Summit is the first such event to be held by the Yogi government. Over 5,000 delegates are expected to attend the event while over 100 speakers will address the gathering. The summit will bring together various stakeholders to find better investment opportunities in the state. Apart from government and major business heads, representatives from Mauritius, Japan, the Netherlands, Finland, Czech Republic, Thailand and Slovakia will take part. Business Today brings you all the latest updates on the two-day event.

3.30pm: Adani Group will invest Rs 35,000 crore in the areas of logistics, solar power, roads and agriculture in UP in the next five years, says group chairman Gautam Adani. "Almost 17 per cent of the total population of the country lives in Uttar Pradesh...the development story of the country cannot be written without the state," says Adani. 

3.09pm: UP has bigger population than many European and African countries and has enormous potential. Hence UP should compete with countries not with states, says Mahindra and Mahindra chairman Anand Mahindra.

 

2.00pm: Union Home Minister Rajnath Singh congratulates UP CM Yogi Adityanath on the successful inauguration of the summit.

1.25pm: The Aditya Birla Group is working in 400 villages under the corporate social responsibility, says Birla, adding that his mother, who was a teacher at the local IT college, was born in UP only.

 

1.20pm: Aditya Birla Group Chairman  Kumar Mangalam Birla says the group will invest over Rs 25,000 crore in finance, cement, and chemicals in UP over the next five years.

1.12pm: Uttar Pradesh has signed 1,045 pacts worth Rs 4.28 lakh crore on the Day 1 of the summit, CM Yogi Adityanath. "I have recently presented budget of Rs 4.28 lakh crore and the figure of MOUs signed is the same... We are heading towards new UP," Adityanath said, adding that "UP is heading towards development and shedding its 'Bimaru' tag", reports PTI.


1.00pm: The UP CM says the government is making Purvanchal and Bundelkhand expressway that will be connected to industrial corridors.

12.50pm: Hamaare aadaraneeya pradhan mantriji ka ek sapna hai... Uttar Pradesh ko Uttam Pradesh banana hai! Sarvottam Pradesh banana hai! Kya yeh sapna saakaar hoga? (Our beloved Prime Minister has a dream, and it is to make Uttar Pradesh Uttam Pradesh or Sarvotam Pradesh. Will we ever be able to fulfill his dream? Says Mukesh Ambani.

12.40pm: Mukesh Ambani says coming to UP is a patriotic duty for him. "Because India cannot rise to its full potential without the rise of 22 crore people of UP. Today, UP is not only rising, but it wants to race ahead. And when UP starts running, no power on earth can stop our country from becoming a global economic power."

12.29pm: "Uttar Pradesh has values and virtues, but it also needs value addition," the PM Modi says lauding the new policy 'One district one product' of the Yogi government and said that it could prove to be the game changer for the state.

12.21pm: The Prime Minister says it requires policy, planning , performance to bring progress and both Chief Minister Yogi Adityanath and people of the state are ready to give "super hit" performance.

12.15pm: Addressing the gathering at the summit, Prime Minister Narendra Modi says the government would make a defence industrial corridor in the Bundelkhand region to bring development in one of the most backward regions of UP. "One of the two defence industrial corridors mentioned in the budget, one is proposed in the Bundelkhand region of the state which will bring an investment of Rs 20,000 crore and generate employment avenues for 2.5 lakh people."

 

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Tags: mukesh ambani | narendra modi | up investors summit | up investors summit 2018 | up summit | yogi adityanath