PM Modi announces 2nd defence industrial corridor in UP

Lucknow: Prime Minister Narendra Modi, while addressing the Investors Summit 2018 here, announced that the government would establish a defence industrial production corridor in Uttar Pradesh at an estimated cost of Rs 20,000 crore. It would also generate 250,000 jobs.

PM Modi stated "Today, I am going to make an important announcement on this occasion. This year the proposal was proposed in the budget that two Defense Industrial Corridors would be built in the country. One of them is proposed in UP."

The Prime Minister said the decision was taken keeping in mind the developmental requirements of Bundelkhand region.

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The corridor will link Agra, Aligarh, Lucknow, Kanpur, Jhansi and Chitrakoot, he said.

It may be mentioned that the government had earlier announced that it would develop two such corridors. The first of the two runs between Chennai and Bengaluru - connecting Kattupalli port, Chennai, Tiruchi, Coimbatore and Hosur.

Modi also praised the Uttar Pradesh government for curbing red tape and rolling out red carpet for investors and taking decisions that have linked industrial development with employment generation.

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"There is no dearth of resources and opportunities in Uttar Pradesh where you find ‘Lucknowi chikankari', ‘Banarsi zardosi', brassware of Moradabad and glassware industries of Firozabad," Modi said.

He also asked the Uttar Pradesh government to compete with Maharashtra in achieving a target of one trillion dollar economy.

"I set this challenge before Uttar Pradesh to compete with Maharashtra and let us see who will become the first trillion dollar economy," he said.

He said Uttar Pradesh today was the number one state in the production of grains, wheat, sugarcane, milk and potatoes in the whole country.

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It is also the second largest producer of fruits and third largest producer of vegetables in the country.

Highlights of the PM’s speech:

• Uttar Pradesh can be the growth engine of our Nation.
• When there is development, it is visible.
• This summit could happen at such a large-scale needs a huge applause and I would like to congratulate the leadership and the people of the state for this achievement.
• The earlier atmosphere of fear in the state had not only affected the people but also the investors but Yogi government has brought a positive environment in the state and has laid a foundation for new a UP.
• I will take a personal interest and make sure that all the MoUs signed here will be realised.
• Would like to extend thanks to all the delegates, world leaders present in the summit.

The event organised by the Yogi Adityanath government is aimed to showcase the investment opportunities in the state. Corporate honchos are attending the summit. At least 18 Union ministers and 100 speakers are attending the event aimed at showcasing business and investment potential across the state.