22-07-2025
- Business
- United News of India
UP to host post-Diwali GBC to attract Rs 5 lakh crore in investments
North
Lucknow, July 22 (UNI) The Uttar Pradesh government is gearing up for a grand Ground Breaking Ceremony (GBC) after Diwali, with a target investment of Rs 5 lakh crore that could potentially reach Rs 10 lakh crore.
UP Industrial Development Minister Nand Gopal Gupta Nandi made the announcement of government planning to host a GBC and said, "We are prepared for the GBC to the tune of over Rs 5 lakh crore," with the possibility of exceeding this target by the time the event takes place.
To ensure the GBC's success, the government plans to conduct international road shows in countries like China, Singapore, South Korea, UAE, Qatar, and Canada.
The minister emphasized the goal of making the state a Rs 1 trillion economy and providing all possible assistance to entrepreneurs.
According to officials, the GBC includes 16,478 projects worth Rs 12.10 lakh crore.
Around 8,363 projects worth Rs 4.33 lakh crore have already started commercial production, while 8,115 projects worth Rs 7.76 lakh crore are under implementation.
Invest UP CEO Vijay Kiran Anand said that 62 companies have been given Letters of Comfort (LOCs) where investments worth Rs 2 lakh crore would be made.
"We have set a target to issue LOCs to 10 companies every month," he added. He also mentioned that the UP government is targeting companies that are shifting their industrial units from China."
UNI MBD AAB
