The Opportunity in Uttar Pradesh

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There is now an unprecedented opportunity for Uttar Pradesh to grab the lion’s share of domestic and global investment. If Yogi Adityanath’s new focus on economics sounds familiar, that’s because he’s done it before. The reboot of law and order over the past five years has played a huge role in perpetuating a new perception of the state.

Following the CM’s vision of “Reform, Perform, Transform” under the leadership of Prime Minister Narendra Modi, the state has reaped the benefits of “dual engine government” and become one of the favorite destinations investors.

One of the main reasons for this is that the UP government is at the forefront of embracing digital transformation and relentlessly pushing the Prime Minister’s vision of a digital India. The UP government has relied on e-governance as it promotes broader change in the relationship between government and stakeholders. As part of this, a one-stop customs clearance system has been implemented, which has made the investment process extremely user-friendly. The UP government has proposed new policies focusing on the “ease of doing business”, especially in the food, electronics, textile and pharmaceutical sectors. As a result, the state jumped from twelfth to second position, in terms of ease of doing business in India.

Industry leaders like Microsoft, Samsung, Reliance, Adani Enterprises, Hiranandani Group, etc. are among the big names investing in the state.

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Other investments combined at the Investor Summit resulted in a total investment of Rs 4.28 lakh crore of which proposals worth Rs 1.05 lakh crore have already materialized. In the first phase of the inauguration ceremony, investment proposals for 81 projects amounting to more than Rs 61,800 crore came to fruition. This includes investments from large companies such as Infosys, Reliance and Paytm in crucial projects. Meanwhile, the second phase saw investment proposals for 290 projects amounting to over Rs 67,000 crore. Among these, investment projects worth around Rs 96,000 crore are on the verge or have already started their commercial operations.

As we prepare for our third ground-breaking ceremony of about 1,400 projects worth Rs. $1 trillion.

One of our main tasks has been to revive the real engine of economic growth in the state, MSMEs. The government will see 805 units of the MSME department rolling out projects worth Rs 4,459 crore. This investment is among 1,400 projects worth Rs 80,000 crore expected to be launched at the ceremony. The investment will provide a great boost to the economy of the state while creating jobs for people in their own districts and the targeted portion of the investment alone will generate more than 5,000,000 jobs in the state.

The largest number of MSME units will be set up in Gautam Buddha Nagar and Ghaziabad districts where 309 units will offer an investment of Rs 1,847 crore. Here, 3,800 job opportunities will be created. It will be followed by Mathura where 67 units arrive with an investment of Rs 547 crore. Together, they will create 2,153 jobs.

Projects worth around Rs 20,000 crore in the data center sector, followed by projects worth around Rs 11,300 crore in the agriculture and related sector, projects worth around Rs 7,800 crore in the computer and electronics sector will be launched along with many others in textiles, tourism, energy and pharmaceuticals.

Some prominent investors include: Adani Group Data Center (Rs 5,100 crore), Hiranandani Group’s two data centers in Noida (Rs 9,100 crore), Microsoft Software Development Center (Rs 2,100 crore) and Dalmia Group’s cement manufacturing plant in Mirzapur (Rs 600 crore).

The huge interest shown in the state by top industrial houses in various sectors will go a long way in boosting the economy of the state and is likely to create thousands of jobs. This has been possible due to the sustained efforts of the state government to provide a conducive working environment for global and multinational companies.

This includes the ease of doing business, starting with the establishment of companies to build infrastructure, provide security, human resources and an appropriate environment for highly qualified professionals and managers.

(The author is Additional Chief Secretary, Department of MSMEs, Government of Uttar Pradesh.)

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