UP CM Yogi Adityanath expects investment of Rs 1 lakh crore at upcoming investor's summit
Offering itself as a major investment destination, the Uttar Pradesh government has requested the Centre to develop a defence industrial corridor in the state which is being considered seriously by the defence ministry.
The issue was first discussed between defence minister Nirmala Sitharaman and Uttar Pradesh chief minister Yogi Adityanath while he was in the capital to invite the central ministers for the Uttar Pradesh investors' summit being held on February 21 in Lucknow.
"The state has developed a very good infrastructure like good highways in Bundelkhand which gives very good connectivity. The state government is also making arrangements for other related infrastructure such as electricity and other required things," a senior defence ministry source said.
The state government has also requested that serious efforts should be made in this direction as it will help in developing one of the most backward regions of the state and the country and also help in creation of jobs in the state. The defence ministry followed up the meeting between the two leaders by sending a senior official from the department of defence production who was of the view that there was scope of developing an industrial hub in the proposed region, sources said.
"If this proposal fructifies, UP would have the second defence industrial hub in the country with the first being in Karnataka and Tamil Nadu. The state government is expecting to attract an investment of more than `1 lakh crore if the location suggested by it is allowed to be developed as a defence industrial corridor."
After finance minister Arun Jaitley announced the setting up of defence industrial hubs in the country in his latest Budget speech, Sitharaman had announced that the first such corridor will link Chennai and Bengaluru and will pass through Coimbatore and several other industrial clusters.
A defence corridor refers to a route or a path along which domestic productions of defence equipment by public sector, private sector and MSMEs are lined up to enhance the operational capability of the defence forces.
Apart from improving the connectivity of the defence forces, the move is expected to encourage domestic production of defence equipment and benefit all small and medium manufacturers along the corridor.
The locations of these corridors would be decided by the defence ministry while taking into account a natural ecosystem that could be utilised for enhancing the existing defence network. Adityanath is eyeing the Investors' Summit as an opportunity to refurbish the image of the state as a business friendly destination for which he has been working very hard to improve the law and order situation in the state.
A number of announcements has been made for business houses and efforts are being made to improve the availability of electricity and other basic requirements for industries to come up in the state.
Prime Minister Narendra Modi will inaugurate the two-day summit in Lucknow on February 21.