“Uttar Pradesh is a Great Place to Invest”: Nitin Gadkari at UP Investors Summit

"Uttar Pradesh is the best destination for investment," Gadkari declared during a session on "E Mobility, Vehicle and Future Mobility" on the second day of the Uttar Pradesh Global Investors Summit-2023. Due to the abundance of water, energy, human resources, and excellent connectivity, there are a tonne of investment opportunities in the field of e-mobility.

He claimed that by making investments in Uttar Pradesh's e-mobility sector and making contributions to environmental preservation, job creation, and poverty eradication, business owners could aid in the realization of Prime Minister Narendra Modi's vision of a "AatmaNirbhar Bharat." The Union Minister praised Chief Minister Yogi Adityanath's vision and said that while eye donations are permitted, they cannot be made with the intention of advancing society. He continued, "Employment must be created to end poverty, and this will involve both industry and capital investment."

"If there is capital investment, industries will be established, and if industries are established, employment will increase, which will end poverty. Yogi Ji organised the Global Investors Summit with this goal in mind. Yogiji ke netratva mein Uttar Pradesh ki gaadi full speed se daud rahi hai, motorway highway par. Gadkari predicted that thanks to his efforts, unemployment, hunger, and poverty would all be completely eradicated in Uttar Pradesh.

He claimed that this is a fantastic chance for investors to put money into Uttar Pradesh. Transparency, prompt decision-making, decentralisation of power, and positivism are all clearly demonstrated by CM Yogi's rule.

Gadkari said that electric vehicles like cars, scooters, buses, lorries, tractors, JCBs, and construction equipment are currently being produced when talking about the development of e-vehicles. "For the construction of a road worth Rs 1000 crore, Rs 100 crore is spent on diesel. However, switching to electronic equipment will cut this cost to just 10 crores, saving 90 crores, according to Gadkari.

According to Gadkari, there are currently 20.8 lakh electric vehicles in the nation. In comparison to 2021, it has grown by 300%. By 2030, the government wants to see two crore electric vehicles on the road, with 50 lakh of them being used by the government. "At the moment, 4.50 lakh electric vehicles are registered in Uttar Pradesh. In this industry, a lot of startups are just getting started. In UP, 10 lakh people will find work if this is promoted, he claimed.

Gadkari proposed the e-vehicle transportation model used in London, saying that investors would fund the operation of AC e-buses with their capital. Since it will be a card system and there won't be any tickets, there won't be a conductor. The government won't spend a single penny, and between 100 and 200 crores will be invested instead. In the near future, Uttar Pradesh cities like Gorakhpur, Kanpur, Fatehpur, and Ghaziabad may develop into electric vehicle hubs.

In order to make the poor prosperous, Gadkari said, "We must diversify agriculture. The 50,000 crore rupee sugarcane industry in Uttar Pradesh now generates a sizeable amount of income from ethanol production. 250 billion litres of ethanol are produced annually in Uttar Pradesh by 75 distilleries. 500 distilleries could be built in Uttar Pradesh due to the severe lack of ethanol at the moment. Flex engine technology is favoured in order to improve ethanol consumption quality. The village's entire economy could change if ethanol pumps are installed.

Gadkari noted that Uttar Pradesh has a lot of potential for producing green hydrogen from water and biomass, and the government has also taken the initiative to do so. CM Yogi said in his remarks to the group that the potential and future of e-mobility must be taken into account. He claimed that the picture of the role infrastructure plays in the development of the country has become clear over the course of the previous few years of Prime Minister Narendra Modi's administration.

Dayashankar Singh, the state's minister of transportation, Prashant Kumar Banerjee, the executive director of SIAM, Sushant Nayak, the chairman of the Electric Mobility Group, Ram Tumuluri, the CEO of the Kosis Group, Parameswaram Iyer, and L Venkateswara Lu, the principal secretary of transportation, all attended the meeting.