Yogi Adityanath’s UP eyes becoming $1 trillion economy; aims to be investment hub in these areas

By: |
September 22, 2020 12:15 PM

Yogi Adityanath-led Uttar Pradesh now looks to become a $1 trillion economy, aiming to contribute one-fifth to Prime Minister Narendra Modi’s dream of making India a $5 trillion economy by 2025.

Utar Pradesh Chief Minister Yogi Adityanath. (File pic)

Yogi Adityanath-led Uttar Pradesh now looks to become a $1 trillion economy, aiming to contribute one-fifth to Prime Minister Narendra Modi’s dream of making India a $5 trillion economy by 2025. “Respected Prime Minister Narendra Modi has aimed to make India a $5 trillion economy. In a bid to help the country achieve this goal, UP is also targeting to become a $1 trillion economy. With the help of the industrial sector, we will surely achieve this goal,” CM Yogi Adityanath wrote on Twitter in Hindi on Monday. Uttar Pradesh has recently bagged the second spot in the country in ”Ease of Doing Business” ranking. Announcing the same, Yogi Adityanath said that it has been an outcome of the sustained efforts of the state government during the last three years.

He also called upon industrialists, entrepreneurs, and investors to boost investments in UP. “The state has strived to develop infrastructure… beside strong law and order to such an extent that it is now on the path of releasing its much-cherished dream of attaining $1 trillion economy status in the country,” he added.

The state government has also started on the goal to make UP an industrial state. Amid anti-China sentiment, various state governments are looking to woo global investors with lucrative policies and Uttar Pradesh is no different. “The Uttar Pradesh government has received over 50 investment proposals worth over Rs 7,000 crore from the investors of about ten countries which include Japan, United States, UK, Canada, Germany, and South Korea who want to shift their units from there to Uttar Pradesh,” an official statement said. Uttar Pradesh has already set up a 20,000 acre land bank and is in the process of setting up a land bank policy under which land leasing, land pooling, etc will also be discussed.

Meanwhile, the state government believes that Uttar Pradesh can become an investment hub in traditional areas such as electronics, IT, food processing, dairy, textiles, tourism, and films.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Govt launches drive to ensure FPO scheme’s success
2GST Amnesty: SC refuses to direct finance ministry to extend scheme
3DBT being considered for disbursal of food, fertiliser subsidies: Rajiv Kumar