Uttar Pradesh is looking at signing memorandums of understanding to the tune of Rs 1 lakh crore at the upcoming investors summit in the state.
"We are expecting MoUs worth Rs one lakh crore in the summit," Infrastructure and Industrial Development Commissioner of Uttar Pradesh, Anup Chandra Pandey said here today on the sidelines of a roadshow for the event.
He said the investment summit on February 21-22 will be inaugurated by Prime Minister Narendra Modi.
"We are trying to build relationship with the investors with not just supporting them in investment, but honouring them," Uttar Pradesh Industrial Development Minister Satish Mahana said.
He said the state will introduce complete online single window system for all approvals, and with this, the maximum time-frame for clearances will be not more than one month.
Mahana said besides having 10,000 acres of land bank, Uttar Pradesh was promoting private industrial parks that will provide more options to investors.
Uttar Pradesh government officials said it has received intention of investment of Rs 35,000 crore from companies, including ITC Ltd and Century Plyboards India Ltd, at the roadshow.
Pandey said the state was focused on logistics infrastructure through the western freight corridor and the Amritsar-Kolkata freight corridor.
"Sixty-five per cent of the Amritsar-Kolkata dedicated freight corridor passes through UP. We will build many mini Noidas on both sides of the upcoming new expressways," he said.
There are some "futuristic policies" that are coming in the next 15 days, and these will be in the areas of electric vehicles, logistics and warehousing, defence manufacturing and pharmaceutical sectors, Pandey added.
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