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INVESTMENT CLIMATE IN UTTAR PRADESH POISED FOR DOUBLE DIGIT GROWTH

2016-03-28

 March 28, 2016

The huge investments in Uttar Pradesh are presenting the way for the next phase of growth in the state. Akhilesh Yadav’s government in Uttar Pradesh (UP) has shown a marked increase in securing more private investments during the first four years of his regime. A recent World Bank report on ‘Ease of Doing Business’ in India, UP was ranked amongst the top 10 states and first amongst the Northern states.

From April 2012 to January 2016, the state reported total private investment worth over Rs 25,081 crore. According to Uttar Pradesh Infrastructure and Industrial Development, principal secretary Mahesh Kumar Gupta, “Projects worth Rs 25,081 crore had already implemented in the state and projects with investment of Rs 78,681 crore are in the pipeline. “During the last four years, around 1.70 lakh industrial units and enterprises had been set up across UP providing direct and indirect employment to nearly 1.50 million people” he added.

The Government of Uttar Pradesh is attempting to create an investment-conducive environment in the state. Different sectors of the economy have benefitted from various incentives and policy measures taken by the government from time to time. These policy measures aim to improve the quality of life of its people, generate employment for them, and encourage investment in various sectors of its economy.

India’s economic progress is wedded to UP’s growth as the state contributes 8.1% to India’s GDP. A series of recent policy initiatives and focus on infrastructure development, supported by availability of skilled manpower, good resource base and a large consumer market all makes Uttar Pradesh an attractive investment destination. Some of the biggest companies (Samsung India Electronics Private Ltd, Noida, Reliance Cement Company Pvt Ltd, Indo-Gulf Fertilizer, Jagdishpur, Gujarat Co-operative Milk Marketing Federation (GCMMF), HCL Technologies Ltd, and the TATA group are a few names which have found a home in Uttar Pradesh) in India have decided to invest Rs. 7500 crore in Uttar Pradesh.

Under the Akhilesh rule (April 2012-January 2016), the state reported total private investment worth over Rs 25,081 crore whereas Rs 10,773 crore during the Mayawati regime (April 2007-March 2011).

Akhilesh Yadav has projected Uttar Pradesh as “The Land of Unlimited Potential” by overcoming the challenges of large population size and huge geographical expanse

In recognition of the excellent work done by the State Government, Uttar Hamara congratulates Mr. Akhilesh Yadav for building Uttar Pradesh as an investment friendly state.

Uttar Hamara

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