 "EY to promote 'Brand UP'")
This comes in the backdrop of taking several new policy initiatives to encourage investment and industrial development in the state.
The agreement was signed by Satish Kaushal, executive director, E&Y and Kaushal Raj Sharma, joint executive director, Udyog Bandhu and special secretary, infrastructure and industrial development. Udyog Bandhu is the state agency for investment promotion.
E&Y will function as knowledge partner of UP with well defined scope of work and fixed timelines for the next 18 months.
“We have to evolve ‘Brand UP’ commensurate with rapidly improving ground realities in the state as a result of fresh policy interventions by the government,” Udyog Bandhu Executive Director and Principal Secretary, Infrastructure and Industrial Development (IIDC) Surya Pratap Singh said.
With rigorous monitoring system for the implementation of these policies in place, very soon the real industrial potential of the state would be realised, he further added.
Udyog Bandhu had invited bids for selection of knowledge partner in November 2012 and three bids were received in April 2013, including E&Y, KPMG and Isthaan Financial. Only E&Y qualified technically.
Broad objectives of the assignment and scope of work of the knowledge partner include promoting Uttar Pradesh as the most preferred investment destination in the country by designing a comprehensive investment promotion strategy.
The selected consultant will explore investment opportunities in identified focus sectors and geographical locations to promote them.
Apart from organising a Global Investors’ Summit and also four road shows in the country, along with two road shows abroad, the consultant will take follow up action of the summit by tracking investors and facilitating establishment of projects.
A time-period of 18 months has been fixed for the consultant to achieve these objectives.
E&Y, in their proposal presentation, had listed 15 prospective investors from different sectors, who were interested in setting up businesses in Uttar Pradesh in near future.