August 04, 2016
The state under the leadership of Akhilesh Yadav has been focussing to create a facilitative administrative system, reduce time in setting up of industries, remove bureaucratic interventions, and provide world-class infrastructure. Recently, the World Bank had ranked the state 10th in the country in the context of ease of doing business.
Uttar Pradesh has become a corporate hub with a number of domestic players and MNCs establishing their facilities here. Through ongoing efforts, the state has attracted many corporate giants such as Samsung, Infosys, HCL, Times Group, Azure Group, Reliance, Amul, etc.
In an effort to further streamline business, the state government has restructured and strengthened Udyog Bandhu, a nodal organization of the state government dedicated for facilitating investment in the infrastructure, industrial and service sectors.
Udyog Bandhu has been strengthened with a special focus on accessibility of investment-related information and redressal of investors’ grievances.
The government is making all efforts to strengthen the infrastructure of the state. All district headquarters are being connected with four-lane roads. Besides the widening of roads, bridges and flyovers have been constructed to ensure a rapid transport system.
All this has resulted in getting tremendous response from industrialists and entrepreneurs, having immense faith in policies and business environment in Uttar Pradesh.
Sector Wise Investments
Akhilesh Yadav has projected Uttar Pradesh as “The Land of Unlimited Potential” by overcoming the challenges of large population size and huge geographical expanse. The government has made sector wise investor friendly policies in the areas of electronics, food processing, infrastructure, IT, power, solar energy, etc. The investment policies unveiled by the state, better facilities of roads, power, water and other essential services clearly give an edge to the state. The state is also setting up state-of-the-art IT parks, mega food parks, logistic hubs, plastic city, biotech industrial parks, and integrated industrial townships.
What makes Uttar Pradesh an attractive investment destination?
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; 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. They have decided to invest Rs. 7500 crores in the state.
The progressive policies and a clear focus on making the state attractive for doing business through fiscal incentives as well as simplification of business regulations have gone a long way towards building brand Uttar Pradesh in India.