UP's Industry Department Reviews Progress Of 150 MoUs, Claims Significant Improvement In Conversion
LUCKNOW || Additional Chief Secretary, Industrial Development Department of Government of Uttar Pradesh Alok Kumar on Monday took the second review meeting to track the progress of MoUs assigned to the Industrial Development Department signed during UP Investors Summit 2018.
Chief Secretary of Uttar Pradesh had issued a Government Order on June 4, 2020 for strengthening MoU review mechanism and introduced the concept of appointing Nodal Officers by Departments for handholding investors. A robust MoU Tracking Portal has been developed and regular updates on MoUs are provided by Nodal Officers and issues that investors are facing are also getting resolved.
Towards this, the Industrial Development Department has appointed 23 Nodal Officers for handholding 150 investment proposals. The first review of Nodal Officers was held on 16th July 2020. Out of 150 MoUs mapped to Industrial Development Department, 18 MoUs worth Rs. 4095.96 Cr. have commenced commercial operations and another 31 MoUs worth Rs. 12,858.34 Cr. have initiated project implementation.
Kumar said, “It is quite overwhelming to learn that there is significant progress in the investments since the last review meeting held on 16th July 2020. Four new units have started commercial operations and 19 new units, in which investment of around Rs. 4500 Crore are intended, have initiated their project on ground from these MoUs”.
Due to the various proactive interventions of Nodal Officers, projects which earlier apprehended to be dropped by the investors are now back into the follow up mechanism and investors are gaining the much needed confidence by interacting directly with the senior officers from Government.
Nodal Officers played a pivotal role in resolving issues of investors like Max Ventures & Industries who were facing an issue related to mining which was resolved by the intervention of NOIDA Authority.
Similarly, for another investor Surbhi Satcom Group due to intervention of Nodal Officer, issues related to temporary power connection, fire NOC and Structural Stability Certificate got resolved. The Nodal Officer from Greater Noida facilitated 15 investors out of which 12 units have initiated their project and 3 units have completed construction.
Due to the various proactive interventions of Nodal Officers, projects which earlier apprehended to be dropped by the investors are now back into the follow up mechanism and investors are gaining the much needed confidence by interacting directly with the senior officers from Government.
The top bureaucrat appreciated the efforts made by Nodal Officers for handholding investors and helping them in realising investment proposals. He said that due to efforts of Industrial Development Department and the Industrial Development Authorities, today more than 12% MoUs have initiated commercial operations in addition to over 20% of investment intents which are in various phases of active implementation.
The Additional Chief Secretary also congratulated and thanked everyone for achieving the second position in Government of India administered Business Reform Action Plan ranking. He said that the mechanism of dedicated Nodal Officers for each MoU as nodal contact point for the investor had boosted investor confidence and resulted into positive feedback, which has been instrumental for the State in achieving the second rank.