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PM announces Rs 200b defence production corridor in Budelkhand.

Summary: The government has announced the first defence industrial production corridor between Chennai and Bengaluru


Lucknow: Prime Minister Narendra Modi on Wednesday announced a Rs200 billion (Dh11.33 billion) defence industrial corridor in Bundelkhand region to bring development in one of the most backward regions of Uttar Pradesh and said the Yogi government has pulled the state out of prevailing negativity.

"Of one of the two defence industrial corridors mentioned in the budget, one is proposed in the Bundelkhand region of the state which will bring an investment of Rs20,000 crore [Rs200 billion] and generate employment avenues for 250,000 people," the prime minister said after inaugurating the UP Investors Summit 2018 here.

"Keeping in mind the development of Bundelkhand, the government has decided to extend the Uttar Pradesh's defence corridor to Agra, Allahabad, Lucknow, Kanpur, Jhansi and Chitrakoot," Modi said.

Finance minister Arun Jaitley in the 2018 budget speech had said that two defence industrial production corridors will be developed in the country.

The government early this month announced the first corridor between Chennai and Bengaluru, which would also pass through Coimbatore and several other industrial clusters.

Defence minister Nirmala Sitharaman had said that the corridors will provide an impetus to the defence production industry in the country.

Referring to the views expressed during election campaign that state needs two engines for ensuring its development, the prime minister cited the various schemes launched by his government, specially pointing out at the Mudra yojna which he said could help achieve this objective.

The two-day mega event being organised in the state capital to attract investments is being attended by top industrial heads, foreign delegates and senior union and state ministers.

Stressing that with such vast potential, diversity and availability of resources, Uttar Pradesh can become India's growth engine, Modi said potential, policy, planning and performance leads to progress and both Chief Minister Yogi Adityanath and people of the state are ready to give this super hit performance.

Terming holding of investor's summit in Uttar Pradesh and congregation of industrialists from all over as a sign of a big change, Modi said the Yogi government has overcome the previous negativity and shown a ray of hope to people with positive changes.

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Publication:Gulf News (United Arab Emirates)
Geographic Code:9INDI
Date:Feb 21, 2018
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