Disbursement of ₹1333 crore incentives: Yogi government injects booster dose, business world promises more investment
Letters of comfort for ₹4500 crore also distributed, entrepreneurs praise investment-friendly climate in Uttar Pradesh
In a major push to investment, chief minister Yogi Adityanath on Friday disbursed incentives of over ₹1333 crore to 32 companies and distributed Letters of Comfort for about ₹4500 crore to 11 industrial units at a special programme at Lok Bhavan here. The investors, in turn, promised that they will continue making investments and praised the industry-friendly atmosphere created in the state.
With this first of its kind programme organised in Uttar Pradesh, the state government conveyed that all efforts were on to meet the commitments made to the industry and resolve pending issues.
As this also marked the resolution of the Samsung issue, which was lingering for six to seven years, Uttar Pradesh chief secretary Manoj Kumar Singh observed, “If we can resolve the Samsung issue, we can resolve any issue.”
Samsung India got incentives of ₹549.83 crore while Samsung Display has been given reimbursement of ₹161.47 crore as incentives. RCCPL, Rae Bareli (Birla Corporation) was given ₹128.07 crore.
Samsung South Asia chief JB Park also announced that his company would continue making investment in the state. HCL CFO Pawan Danwar said HCL would make investment of ₹4200 crore more in the state. JK Cement’s Raghavpat Singhania declared that an additional investment of ₹1500 crore will be made while Birla Corporation’s Sandeep Ghosh said his company was ready to collaborate with the state government in skill development programmes.
Gallant Ispat’s CP Agarwal said the state government should hold such incentive distribution programmes on a quarterly basis and his company would invest 10 times of whatever amount the state government may reimburse as incentives.
Ashok Leyland’s Shenu Agarwal said his company, which is already coming with a plant to manufacture electric buses and trucks in the Sarojininagar area of Lucknow, will also manufacture vehicles based on CNG, LNG or hydrogen fuel.
Adityanath, who distributed the incentives and the Letters of Comfort (LOCs), used the occasion to convey that whatever feeling the industrialists have expressed about the state was an indication of the new identity of Uttar Pradesh.