The government of Uttar Pradesh has attracted more than 77 investment intentions from companies from 10 countries such as Japan, UK, US, Canada, Germany, South Korea and Singapore , among others, valued at Rs.57,000 crore.
It also introduced a digital tracking mechanism for memorandums of understanding. Active engagement of investors, nodal departments and nodal agents on the MoU online monitoring portal has been mandated. In addition, a monthly progress review is monitored.
Awanish Kumar Awasthi, Additional Chief Secretary (at home) was asked about measures taken to attract investors to the UP, from the state known to “mafia raj” and frequently criticized for its poor public order situation over the years. He replied: “A zero tolerance approach has been taken. Property worth around Rs 900 crore, illegally acquired by mafias and morons, has been seized by the state government. We are taking charges. strict measures and no one is spared for their illegal activities. “
Interestingly, by introducing a reformed action plan to ensure ease of doing business, the state’s ranking in the action plan of DPIIT, Government of India activity report, ranked in 2nd position – a jump of 12 positions over the past three years.
The state implemented 186 reforms and one of the main reforms was the one-stop digital portal called “Nivesh Mitra”, providing 166 services to entrepreneurs. With an average NoC app kill rate of 93%, Nivesh Mitra Portal achieved a 98% request resolution rate, according to UP government officials.
In addition, the state has 20,000 acres of industrial land ready for relocation, of which 5,000 acres are to be developed in 2021.
While the state government has already reached 27.2% of its target through its various industrial development authorities.
The UP Industrial Area Development Act of 1976 was amended to discourage blocking of land. Under this amended law, if the allocated land is not used within five years, it will be canceled.
At the same time, Invest UP was created to support investors in procedural work.