UP CM Launches 'Nivesh Mitra 3.0', Distributes Incentives Worth Rs 2,781 Crore To Companies

(MENAFN- IANS) Lucknow, March 24 (IANS) Uttar Pradesh Chief Minister Yogi Adityanath said on Tuesday that entrepreneurs are the backbone of the economy and ensuring their safety and dignity is the state government’s priority while launching the ‘Nivesh Mitra 3.0’.

Launching the ‘Nivesh Mitra 3.0’ single-window system in Lucknow, the Chief Minister added that it will make the setting up of industries easier and more transparent due to investors’ growing trust in state’s potential as the leading investment destination.

“Over the past nine years, the state has completely transformed its identity through transparent policies, strict law and order, improved infrastructure, and an industry-friendly environment,” he said.

Chief Minister Adityanath termed the distribution of incentives to 45 companies and Letters of Comfort (LoCs) to 62 companies during the Navratri programme as a major step for industrial development.

He said these proposals pave the way for nearly Rs 50,000 crore in investments, creating employment opportunities for around 50,000 youth.

Congratulating the start-up founders, Chief Minister Adityanath said, “Government is committed to ensuring rapid ground-breaking after MoUs, resolving minor issues related to investments quickly, and providing a favourable environment for industries.”

He emphasised that investor confidence is the greatest capital of the state, and the state government is continuously working to strengthen it.

“Uttar Pradesh has a market-ready and industry-ready workforce, with a large pool of skilled youth. It also possesses one of the best demographic dividends globally, along with a vast consumer base, making it highly attractive for investors,” the Chief Minister said.

With the launch of ‘Nivesh Mitra 3.0’, over 530 services from more than 43 departments have been simplified and consolidated into fewer than 200 services.

The platform offers features such as a PAN-based single user ID, dynamic Common Application Form, AI chatbot, real-time tracking, automated alerts, and end-to-end online monitoring.

Chief Minister Adityanath said, “Incentives worth Rs 2,781.12 crore have been distributed to 85 projects across sectors such as manufacturing, automobile, cement, bioplastics, iron and steel, food processing, and electronics.”

“Among these, Rs 73 crore was given to four IT and electronics projects, and Rs 20 crore to 10 food processing projects,” he added.

Recalling the situation before 2017, the Chief Minister said investors earlier hesitated to come to Uttar Pradesh due to a poor image driven by identity issues and the dominance of mafia and criminal gangs.

He highlighted that only 16 LoCs were issued between 2012 and 2017, whereas 3,367 LoCs have been issued in the past nine years – reflecting a major transformation in the investment climate.

He added that an industry not only brings investment but also generates employment and improves connectivity.

Entrepreneurs must be respected and protected as they are the backbone of the economy, he said.

Notably, the “zero tolerance” and “zero corruption” policies have transformed the investment climate.

The state offers 75,000 acres of land bank, seamless connectivity, 55 per cent share in India’s expressway network (soon to be 60 per cent), 12 domestic and four international airports, and the upcoming Noida International Airport in Jewar is set to become the country’s largest cargo and logistics hub with MRO facilities.

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