UP Govt. Signs Rs 5,000 Cr MoU In IT And Electronics | SupportBiz


UP Govt. Signs Rs 5,000 Cr MoU In IT And Electronics

The Chief Minister laid the foundation stone of manufacturing unit of Samsung.

New Delhi: In a major boost to IT and electronics sector, the Uttar Pradesh government signed pacts involving investments of Rs 5,000 crore at an event here on Tuesday.

"The event will be inaugurated by Chief Minister Akhilesh Yadav during which we hope to sign Memorandums of Understanding (MoUs) of roughly around Rs 5,000 crore with IT and electronic companies," Principal Secretary IT and Electronics Jivesh Nandan said.

He said MoUs will be signed by Indian Cellular Association, the Electronics Industry Association of India and the Electronics and Semi Conductor Association. Nandan said these MoUs were expected to generate 50,000 jobs in IT and electronics sector.

The event was be attended by Korean ambassador Joon-gyu Lee, Chief Secretary Alok Ranjan and representatives of the industry, besides top government officials. The Principal Secretary said that the detailed project report of IT city at Lucknow has been approved and building plans would soon be approved by the Lucknow Development Authority.

Uttar Pradesh would soon become the first state in the country to get a 4G network, according to the UP government's NRI Department advisor Madhukar Jetley. He said that according to a World Bank report, UP has been included among India's top five manufacturing states and for contributing 8.3 per cent of India's manufacturing output in 2012-13.

The state has availability of basic raw material for handicraft manufacturing like wood and metal including silver, cooper, brass and tin, along with paper, stone, cotton, silk and leather. Around 1.76 lakh industrial units were set up during the the 11th five year plan period at a total investment of USD 9.07 billion, official sources said.

The UP government plans to celebrate its first ever 'Uttar Pradesh NRI Divas' in Agra from February 28 to March 1. The growth rate of Uttar Pradesh is 6.8 per cent, which is higher than the national average, and the total investment in MSMEs is Rs 20,000 crore in last two years.