Uttar Pradesh has signed 1,045 pacts worth Rs 4.28 lakh crore on the first day of the UP investors' summit, Chief Minister Yogi Adityanath said today.

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"It is a matter of pride for the state that fortune-500 companies are participating in this summit. I want to tell you all that till now we have signed 1,045 MoUs worth Rs 4.28 lakh crore. I have recently presented budget of Rs 4.28 lakh crore and the figure of MOUs signed is the same... We are heading towards new UP," Adityanath said while addressing the summit here.

He said he would himself oversee that the MoUs signed are executed, and those who are coming to invest in the state get all the facilities.

"I welcome all the guests including industrialists. With PM's guidance and blessings, UP is heading towards development and shedding its Bimaru tag. We are trying to become developed. PM's guidance helps us in good governance and taking the state on path of development," he said.

The summit is an attempt to establish UP among the developed states and its focus areas include food processing, dairy, handloom and textile, MSME, IT, start-ups, electronic manufacturing, films, tourism and civil aviation, the chief minister added.

Stressing that the state was providing basic needs for investments like law and order, infrastructure, power and roads, he said he would ensure an administrative setup which will be transparent and answerable.

"We have established rule of law in the state in past 11 months and taken initiatives to maintain peace," he said, adding that state investment promotion board has also been set up to facilitate industrialists willing to invest.

"For ease of doing business approvals, permissions, licences are going to be under one roof. We are going to implement digital clearance which will be monitored by the CM office," he said.

Adityanath said that the state's start-up policy will provide innovation base to new entrepreneurs and associated IIT Kanpur, BHU and 30 engineering with it.

"We are making Purvanchal and Bundelkhand expressway that will be connected to industrial corridors and emphasised on regional connectivity to connect different districts and connecting tourism points," he said.