Path to India becoming $5-trilion economy passes via UP: Amit Shah

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Published: July 29, 2019 4:44:05 AM

Shah said he has heard the path to become the Prime Minister passes through UP.

Amit Shah, $5-trillion economy, Uttar Pradesh, Narendra Modi, industrial projects, 14th Finance Commission, UP investors summitSpeaking at the second ground-breaking ceremony for industrial projects worth Rs 65,000 crore here, Shah said Prime Minister Narendra Modi has set the target for the country to be among the top three economies in the world in the next five years.

The path to achieve the country’s target of being a $5-trillion economy passes through Uttar Pradesh, home minister Amit Shah said on Sunday, expressing confidence that the state will contribute to it by becoming a $1-trillion economy. Speaking at the second ground-breaking ceremony for industrial projects worth Rs 65,000 crore here, Shah said Prime Minister Narendra Modi has set the target for the country to be among the top three economies in the world in the next five years.

Shah said he has heard the path to become the Prime Minister passes through UP. Similarly, the path to India becoming a $5-trillion economy also passes through the state. “The path to achieve the country’s target of being a $5-trillion economy passes through Uttar Pradesh,” he said and expressed confidence that the state will contribute to it by becoming a $1-trillion economy.

Also read: Aiming to put more money into hands of people to boost consumption, kickstart economy, says Nirmala Sitharaman

Stating that the Centre is committed to the development of Uttar Pradesh, Shah mentioned that there had been an increase in allocation of funds to the state by the 14th Finance Commission. “Along with the state government, the Centre, too, is committed to the development of Uttar Pradesh,” Shah assured investors.

Praising chief minister Yogi Adityanath for bringing several changes for the development of the state, Shah said the state government has removed the biggest hurdle in development by improving the law and order situation in the last two years.

Among the major projects for which Shah laid the foundation stone on Sunday are: Vivo mobiles, which has invested Rs 7,429 crore, Torrent Gas (Rs 2,751 crore), Oppo Mobiles (Rs 2,000 crore), Samsung (Rs 1,400 crore), Haier India (Rs 1,017 crore), ITC (Rs 760 crore), PepsiCo (Rs 514 crore), JK Cement (Rs 650 crore), and UltraTech Cement (Rs 600 crore). With Sunday’s groundbreaking, UP has been able to achieve 25% conversion of the investment commitments made at the investors’ summit last year. MoUs for 1,025 projects worth Rs 4.28 lakh crore had been signed at the February meet.

The chief minister said following last year’s investors’ summit, the state has received investments worth Rs 1.5 lakh crore, which have helped create 28 lakh jobs.  “So far, public investment has been to the tune of 1.25 lakh crore, and we are working in direction of making Uttar Pradesh a trillion dollar economy soon,” he said, adding that Uttar Pradesh had posted the highest exports in two years with a growth of 28% in FY19, against the national average of 18%.

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