UP to host GBC 5.0 in Nov; ₹5L cr projects in pipeline
In past eight and a half years, four such groundbreaking ceremonies have already been organised, bringing projects worth over ₹15 lakh crore and creating employment opportunities for more than 60 lakh youths, says CM
LUCKNOW Chief minister Yogi Adityanath on Thursday directed senior officers to prepare for the fifth ground-breaking ceremony (GBC) in November to implement investment projects of over ₹5 lakh crore in Uttar Pradesh.
Dates for the GBC 5.0 would be finalised keeping in view the availability of Prime Minister Narendra Modi for the event, said those aware of the developments.
In the past eight and a half years, four such groundbreaking ceremonies had already been organised, bringing projects worth over ₹15 lakh crore and creating employment opportunities for more than 60 lakh youths, said the CM presiding over a meeting of the industrial development department.
About the proposals for land allocation to various private industrial units, the chief minister said the process of land acquisition should be carried out in harmony.
“Everyone has an emotional bond with their land; it is their lifelong capital. If land has to be acquired in the interest of the state, they must receive fair compensation. There should not be a single complaint of exploitation. With dialogue and coordination, this task can be easily achieved. All industrial development authorities should consider increasing the current compensation rates for land acquisition as per the needs of their region. This is the need of the hour and in the best interest of farmers,” he said.
Adityanath laid emphasis on export promotion and called for developing a FinTech hub in Noida, Greater Noida or the Yamuna Authority region, with large banking institutions setting up offices there. He said there was a need to focus on efforts to boost electronic product exports.
The CM further directed that land allotted to industrial units, but left unused for three years, should be cancelled and reallocated to other investors.
He stressed the need to make the Nivesh Mitra and Nivesh Sarathi portals simpler and more user-friendly, ensuring that investors — big or small — do not have to visit government offices. Adityanath also directed that the GST reforms taking effect from September 22 should benefit every citizen, expressing confidence that they will directly help the common man.
The CM also discussed the plan to develop special employment zones dedicated to Sardar Vallabhbhai Patel in every district. He said that step by step, these employment zones must be developed in at least 100 acres in every district, and land availability for this must be ensured. These zones will become hubs for industry, investment, entrepreneurship, innovation, skill development and employment. This plan will become a model for the entire country, he added.
Adityanath was informed at the meeting that a target of ₹5 lakh crore gross value added (GVA) had been set for the manufacturing sector for 2025–26. For this, registration of 8,000 new and existing units under the Factories Act was required. So far, 1,354 units were registered.
