In the past seven and a half years, ever since the Yogi Adityanath government took office in mid-March 2017, Uttar Pradesh (UP) has seen multi-faceted development. It attracted investment proposals worth 40 trillion in 2023, and its focus has been not only on constructing the country's largest network of expressways, the most airports in any state, improving its power supply, and its ease of doing business (EODB) ranking, but also on providing technological solutions and export incentives to its micro, small, and medium enterprises (MSMEs), especially those associated with traditional crafts, and promoting cultural tourism.
In his address at the recent Business Standard Samriddhi round table in Lucknow, Uttar Pradesh Chief Minister (CM) Yogi Adityanath said the state's rapid cultural, economic, and industrial growth since 2017 had been driven by its zero tolerance towards crime.
Adityanath, UP's longest-serving CM, detailed his government's efforts to improve the investment climate and said it was the only way to provide jobs. He said the investment proposals of 40 trillion would create 15 million jobs for the state's youth. He elaborated on how his government had supported traditional MSMEs, such as Moradabad's brass industry, Firozabad's glass industry, Bhadohi's carpet manufacturers, and the state's farm sector.
In his nearly hour-long speech at the event, the CM said that his government had "ruthlessly" crushed mafia groups and that rioters now knew their actions would have consequences. "From the lawlessness of 'one district, one mafia' during the rule of the previous governments, the state has transitioned to 'one district, one product (ODOP)," the CM said, adding that the crackdown on land mafias by the anti-land mafia squad had now freed 64,000 hectares of land.
State budget growing
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UP green plan: Use tech to help boost agriculture
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'UP has extensive land bank for industries'
As several investments come to Uttar Pradesh (UP), the demand for industrial plots is rising. The Global Investors Summit, held in Lucknow last year, fetched investments worth more than ₹40 trillion. The state government is expanding existing industrial areas and creating new ones. Sector-specific industrial parks are also being set up. MAYUR MAHESHWARI, Chief Executive Officer (CEO) of UP State Industrial Development Authority (UPSIDA), in an interview with Siddharth Kalhans in Lucknow spoke about plans to help industries. Edited excerpts:
'Investments in UP spread across regions'
Leaving behind the tag of being a Bimaru’ state, Uttar Pradesh UP) has marched forward to become one of the most favoured destinations for investors. The state government has introduced a new industrial policy providing more sops, incentives, and rebates to industries. Various sectoral policies have been implemented to support these industries. Minister for Industrial Development, Export Promotion, NRI Investment Promotion of UP, in an interview with Siddharth Kalhans of the Business Standard Samriddhi round table, shared details of the steps taken to boost the economy, exports, and industries in UP. Edited excerpts:
State's priority sectors need ₹5.73 trn lending in FY25
Signalling a major boost to the $1 trillion economy target of Uttar Pradesh, the priority sector credit flow is estimated to touch ₹5.73 trillion in the current financial year 2024-25 (FY25), marking an over 50 per cent growth year-on-year.
