UP to host GBC@5 in November with projects worth over Rs 5 lakh crore: CM Adityanath

Lucknow, Sep 18 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Thursday said preparations are underway for the fifth Ground Breaking Ceremony (GBC@5) to be held in November with private investment projects worth more than Rs 5 lakh crore in the pipeline.

Chairing a high-level meeting of the industrial development department here, the Chief Minister said in the past eight and a half years, four such groundbreaking ceremonies had already been organised, bringing projects worth over Rs 15 lakh crore and creating employment opportunities for more than 60 lakh youths.

"With the mantra of reform, perform and transform, we have been able to bring massive investments to Uttar Pradesh. The upcoming GBC@5 should be organised in November with full preparation. All departments must ensure time-bound action and regularly monitor the progress of every investment proposal," Adityanath said.

Reviewing land acquisition proposals for industrial units, the Chief Minister stressed the need for a sensitive and farmer-centric approach.

"Everyone has an emotional attachment to their land. It is their life's capital. If the state requires it for development, they must receive fair compensation. There should be no complaints of harassment. Industrial authorities should consider raising the current compensation rates. This is in the best interest of farmers," he said.

The Chief Minister further directed that land allotted to industrial units, but left unused for three years, should be cancelled and reallocated to other investors.

Emphasising the need to strengthen exports, Adityanath said, "A fintech hub should be developed either in Noida, Greater Noida or Yamuna Authority areas, with offices of major banking institutions. Special efforts should also be made to boost exports of electronic products." He also called for making the 'Nivesh Mitra' and 'Nivesh Sarathi' portals simpler and more user-friendly. "Investors, whether small or large, should not have to run around offices," he said.

On the upcoming GST reforms set to take effect from September 22, the Chief Minister said, "The benefits of GST reforms must reach the common citizen. It should directly ease their lives." Adityanath also discussed a plan to set up Sardar Vallabhbhai Patel Employment Zones in every district, with at least 100 acres earmarked for each.

"These zones will become hubs of industry, investment, entrepreneurship, innovation, skill development and employment. This model will set an example for the entire country," he said.

Officials informed the meeting that the state has set a Gross Value Added (GVA) target of Rs 5 lakh crore for the manufacturing sector in 2025-26.

For this, registration of 8,000 new or existing units under the Factories Act is required, of which 1,354 have already been registered.

The Chief Minister instructed officials to expedite labour reforms and ensure the activation of unused industrial land parcels. PTI ABN DRR