Modi was in Lucknow to inaugurate the third ground-breaking ceremony of industrial projects in the state. The ceremony was held to highlight 1,400 projects reflecting an investment of more than ₹80,000 crore. These projects have begun commercial operations or are on the verge of beginning.
Some memorandums of understanding (MoUs) were also signed between the state government and prominent business players such as Adani Defence and Aerospace to build South Asia’s largest integrated ammunition manufacturing complex in the UP Defence Industrial Corridor with an investment of ₹1,500 crore. Gautam Adani, chairman of Adani Group, said he will be investing more than ₹70,000 crore in the state.
“The investments reflect the faith placed in the growth story of India and UP. Global circumstances have brought a lot of opportunities for us. Only democratic India has the capabilities that that befit the trusted partner that the world is looking for right now. The world is both watching the potential of India as well as lauding its performance. During Covid-19 too, India didn’t stop, but instead it increased the pace of its reforms,” Modi said.
He also invited business leaders present at the gathering- from Gautam Adani to Kumar Mangalam Birla- to “take time out and visit Kashi”. Modi said India was the fastest growing economy among all the G-20 economies and is at the second spot in the Global Retail Index.