With constant intervention by the Yogi Adityanath government, the various industrial projects which were earlier believed to have been dropped by the investors in Uttar Pradesh, are now back on track.
According to Alok Kumar, Additional Chief Secretary, Industrial Development Department, investors are gaining the much-needed confidence by interacting directly with the senior officers from government.
"More than 12 per cent MoUs have initiated commercial operations in addition to over 20 per cent of investment intents which are in various phases of active implementation," he said.
Kumar said that the mechanism of appointing dedicated nodal officers for each MoU as the contact point for the investor, had boosted investor confidence and resulted in positive feedback, which has been instrumental for the state in achieving the second rank in the Business Reform Action Plan ranking.
It may be recalled that the state government, in June this year, had introduced the concept of appointing nodal officers for handholding investors.
An MoU Tracking Portal has been developed and regular updates on MoUs are provided by nodal officers and issues that investors are facing are also getting resolved.
The Industrial Development Department has appointed 23 nodal officers for 150 investment proposals.
Kumar said that out of 150 MoUs mapped to Industrial Development department, 18 MoUs worth Rs 4,095.96 crore have commenced commercial operations and another 31 MoUs worth Rs 12,858.34 crore have initiated project implementation.
Four new units have started commercial operations and 19 new units, in which investment of around Rs 4,500 crore is intended, have initiated their project on ground from these MoUs.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.