India Inc Lines Up Investments In Defence, Electronics, Agri Biz
BY B N KUMAR
Uttar Pradesh has moved up two the second rank from 12th in the ease-of-business index and business leaders acknowledged the Yogi Government’s herculean efforts
MUMBAI, Dec 3 (BNC Network) Reiterating his government’s resolve to compete globally in terms infrastructure development, Uttar Pradesh Chief Minister Yogi Adityanath gave a major push to the 5,000 hectare Defence Corridor, film city, electronics city and other projects in the State by securing interest from manufacturers and Mumbai-based India Inc.
After ringing the gong at the BSE for the listing of the Rs 200-crore LMC Bond yesterday, Yogi had a series of meetings with the industrialists, Bollywood personalities and culminated it with a media meet.
UP has moved up two the second rank from 12th in the ease-of-business index and the business leaders acknowledged the herculean efforts of the Yogi government, official sources said. The business leaders complimented the CM for fast tracking investments proposals in the state and expediting the Defence Corridor.
The state government-sponsored largest green field airport in Asia at Jewar (Noida), Purvanchal Link and the Bundelkhand Expressway which is under construction is touted to be a well-developed industrial corridor in the country. This advancement will create industrial clusters for one district one product.
Yogi met a 12-member delegation led by S P Shukla, Chairman, FICCI Defence and Aerospace Committee and Group President and Member of the Group Executive Board, Mahindra Group.
Of the planned over 5,000 hectares, 3,796 hectares have been identified and total 1,321.92 hectares acquired. This includes 1,122 hectares in Jhansi and Chitrakoot alone. The corridor is being developed along the Bundelkhand Expressway. IIT- Kanpur is the Technology partner for shaping up the defence industrial corridor. Uttar Pradesh is poised well to maximize India’s potential in defence & aerospace manufacturing.
In another development, N Chandrasekaran, Chairman, Tata Sons Pvt Ltd, committed to invest in end-to-end electronics manufacturing in the upcoming Electronics City planned near Jewar Airport. Sanjay Nayar, Partner and CEO, KKR India Advisors Private Ltd mooted an idea of bringing investment in Agri supply chain including cold storage, farm mechanization and warehousing.
Dr Niranjan Hiranandani, CMD, Hiranandani Group, Suprakash Chaudhuri, Vice President & MD, Siemens Industry Software Ltd, Mr. S N Subrahmanyan, CEO & MD, L&T Ltd and Mr. Baba Kalyani, Chairman, Kalyani Group were among the others with whom the UP CM interacted.
The delegate congratulated the CM for making the state the most preferred investment destination.
Mohd. Ali, Jefferson Medical College of Thomas Jefferson University, Dr. Santrupt Mishra. Aditya Birla Group, Amit Nayyar, President, One97 Communications Ltd, Jaspal Bindra, Executive Chairman, Centrum Capital Ltd, Vikas Jain, Director, A K Capital Services Ltd and Sumit Narang, Samara India Advisors were also present at the meeting with Yogi.
Industrialists from across the board are confident on investing in the state and have submitted plans and proposals to the UP government. The state’s population is a resource and a market for investors. There is a huge potential in the tourism, medical, one district one product and MSME sector, Yogi pointed out and invited businesses for investing in Uttar Pradesh.
LMC bond: The bond, which enjoys an AA rating by India Ratings and AA (CE) by Brickworks Rating, was launched on November 13, and oversubscribed 4.5 times and closed at 8.5 per cent coupon rate for 10 years. This makes it the second lowest rate of all the municipal bonds launched till date. The funds raised through the bond will be invested in various infrastructure schemes in the state capital, including the water supply project and housing project being implemented under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme.
