CII in association with US India Business Council (USIBC) and Govt. of Uttar Pradesh organised a Business Summit -“Destination Uttar Pradesh - Investing in Future” 13 March’13 at Vivanta By Taj, Lucknow. The broad focus of the Round Table was to deliberate on UP – US business opportunities. The discussions at the Round Table focused on Agri-food processing, Manufacturing, infrastructure, IT, Skills Development and Healthcare.
Addressing the US delegation at the inaugural, Mr Akhilesh Yadav, Hon’ble Chief Minister of Uttar Pradesh said that Capital and technology are the critical needs to tap the unlimited potential of the state. UP has 11% purchasing power of the country and we are also the leaders in agricultural production. Rural UP is the revolution in waiting to happen. The average growth rate of the state is 6 percent and is one of the 5 best performing states in the country.
The Chief Minister invited US companies to invest in Defense, heavy engineering and automobile sectors and assured them all support from the Govt. to provide an enabling environment and partnership to create a true and exciting picture for UP.
The Chief Minister added that “such business summits must be a regular process to keep the track on the progress. I look forward to learning from you and would welcome the feedback on today’s deliberations.”
Mr Jawed Usmani, Chief Secretary, Government of U.P said “Govt. is committed to strengthen the US – UP relations and we are committed to make UP as the most preferred investment destination. The recently announced policies have indentified the thrust areas as – food processing, IT, solar, sugar and poultry.”
He added that “Integrated infrastructure holds the key to the future of UP. Investment worth US $ 4.2 billion is proposed in the highway projects. The extension of Delhi – Agra expressway to Lucknow would reduce the travel time to half. In power, 15000 MW generation capacities are targeted in the 12th Plan period. Plastic cities, Mega foodpark, IT city, National investment manufacturing zones are also in the offing. He invited US companies to explore these very promising sectors of Uttar Pradesh and assure them of highly responsive and engaging environment.”
Delivering the Welcome Remarks at the Inaugural Session Mr Jayant Davar, Dy Chairman, CII Northern Region and Vice Chairman & Managing Director, Sandhar Technologies Ltd said that trade in Services, is a very critical and rising component of our total trade basket today. Whether it is Information Technology, Professional or Legal Services, Education, Healthcare or Travel, we need to create the right policy incentives and offer an attractive business climate for our companies to operate effectively and efficiently. He further added that “It is indeed matter of great delight that today we have gathered to discuss and deliberate on ‘Investing in the Future’ and Uttar Pradesh my friends is the future”
Mr Ajay Banga, Chairman, USIBC; President & CEO, MasterCard Worldwide said that Soft and hard infrastructures have a crucial role to play in UP`s economic development. The US – India has grown over the years and currently stands at US $ 100 bn. He suggested that UP needs to create between 1-2 million jobs. This is the first visit of a business delegation to UP and I hope before we leave we would together define an agenda for progress.”
Speaking at the Session Mr Alok Saxena, Chairman, CII (U P State Council) & Vice President & Plant Head, Tata Motors Ltd said that this is an ideal platform to debate and evolve partnerships which make both the economies steadfast and sustainable. Uttar Pradesh is witnessing industrial development and attracting investments. He further added that with industry friendly policy framework being established in the state, Uttar Pradesh would soon be making strides as an ideal investment destination.