GBC-5: UP govt wants investors to look beyond Greater Noida
₹ 5 lakh crore, with the figure likely to reach
₹ 10 lakh crore by the time of the event at the fifth GBC, said state industrial minister Nand Gopal Gupta 'Nandi. (HT file)
In the last four GBCs, Greater Noida has turned out to be a favourite destination for investors. This preference is not without reason. Due to proximity to New Delhi and now the upcoming Jewar airport, it is the first choice for investors.
'To tackle this issue, the government has earmarked Greater Noida region for Data Centre and IT companies. In the GBC-5, the government wants to give a push to the Bundelkhand region where large chunks of land are available,' a senior state government official said.
'In the forthcoming GBC, regions that have attracted less investment will be in focus . The government wants to bring more investment into the Bundelkhand region which is among six nodes of the Defence Industrial Corridor,' the official added.
In the GBC-5, the government is also likely to introduce new concessions for entrepreneurs setting up their units in B-category towns across the state. 'Investors need to look beyond Greater Noida. For this, more concessions will be given to them in this fifth ground breaking ceremony proposed in November if they set their units in small towns across the state,' state industrial development minister Nand Gopal Gupta 'Nandi' said.
'Bundelkhand is one such region where the government wants to focus on the pharma sector and solar power plants as these sectors need large chunks of land. In this region, land is easily available,' the minister added.
'The government aims to roll out projects worth ₹5 lakh crore, with the figure likely to reach ₹10 lakh crore by the time of the event at the fifth GBC,' he said. 'The GBC-5 is set to be another major milestone in turning investment proposals into reality,' he added.
Uttar Pradesh has hosted two investor summits to date. The first, held in 2018, attracted investment proposals worth ₹4.28 lakh crore, while the second, in 2023, set a record with proposals of ₹33.50 lakh crore. To ensure these proposals are implemented efficiently, the government has been conducting GBCs as a key mechanism for fast-tracking projects.
For the GBC-5, the Invest UP has started listing out projects that have reached the production stage. According to Invest UP, more than 8,000 projects out of 16,000 have already begun commercial operations, while the rest are at various stages of implementation.
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