India’s Uttar Pradesh seeks investment to boost renewable energy outputto 28 GW

India’s most populous state – Uttar Pradesh – also known for its surplus agricultural output, is expanding the renewable energy projects that has the potential to generate 2,800 MW (28GW) solar power, enough for speeding up industrialisation of the state’s economy.

“We are working towards sustainable industrialisation based on our inherent strengths – utilising our own resources to build the economy,” Satish Mahana, Minister for Industries, Government of Uttar Pradesh, India, said in an interview on the eve of the 8th Annual Investment Meeting.

He elaborated on his government’s plans to attract investments into various economic sectors. Excerpts:

Question: Two weeks ago, the largest solar project in your state Uttar Pradesh was opened. Could you kindly tell us about this project and its economic returns to the region and the state of India?

The solar power park is being commissioned at Allahbad, Mirzapur, Kanpur Dehat and Jalaunn. The total capacity of these plants is 440 MW. These parks will reduce carbon dioxide emission by hundreds of thousands of tonnes and will save millions of trees. Power is important for socio-economic development of our societies. Especially, production of power from renewable source is aligned to vision of sustainable development.

What is your vision for the development of industry in your province in Uttar Pradesh?

We are working diligently for the goal of robust and sustainable industrialisation that leads to employment generation. Uttar Pradesh is blessed with inherent strengths, we will develop and effectively utilise our strengths so that industrialisation remains inclusive and leads to regional development. We have launched One District One Product scheme to recognise every district’s strength and to work on them to help each district develop simultaneously with the entire state.

The state government is making all possible efforts to generate an investor friendly environment in the state. We are enforcing ease of doing of business and industrial security so that industries can operate without any hindrance.

What investment opportunities are you looking for to boost the economy in Uttar Pradesh?

We are looking to multiple opportunities. Infrastructure sector in UP is thriving. We have opportunities across the region and subsector in infrastructure, as demand for products and service is increasing across the globe.

Uttar Pradesh will serve as manufacturing and innovation hub. We have potential to produce 28 GW of renewable energy. Uttar Pradesh being the one the largest food producing state have immense opportunities for agro and food processing industries. The state with its abundant skilled labour force can emerge as IT and electronics hub. UP also has a vibrant tourism sector, having the second highest tourist footfall. There exist diverse investment opportunity in this sector.

What have you seen of the ways to attract foreign direct investment in your mandate?

The state has recently organised a UP Investor Summit and has received many investment proposals. Uttar Pradesh also organised various roadshows to connect with the industrialist. We are reaching out to foreign investors on regular basis and providing them all necessary investor facilitation.

We have launched an Industrial Investment and Employment Generation policy and other sectoral policies with attractive fiscal and non-fiscal incentives. To complement this, the state has launched one of the best single window mechanism in the world to provide clearance to all investors without any hassle.