UP attracts over ₹50 lakh cr in investments in 9.5 years: CM Yogi Adityanath
ADVERTISEMENT
Uttar Pradesh has received investment proposals worth more than ₹50 lakh crore over the last nine-and-a-half years, Chief Minister Yogi Adityanath said on Thursday, asserting that the state had emerged as a major investment destination.
More than ₹15 lakh crore worth of projects have advanced to the the ground-breaking/implementation stage, he said.
Addressing the groundbreaking ceremony of CNH Industrial's new tractor manufacturing plant in Gautam Buddh Nagar virtually from Lucknow, Adityanath said the company was investing over ₹1,200 crore in the project on nearly 100 acres in Sector 8D of the Yamuna Expressway Industrial Development Authority (YEIDA) area.
The project would create thousands of direct and indirect employment opportunities while strengthening local businesses and the regional economy, he said.
"The trust in doing business is reflected in CNH Industrial setting up a new tractor manufacturing plant with an investment of more than ₹1,200 crore," the CM said, adding that the state government would stand with the company as a partner and provide all necessary support.
The CM said UP's improved law and order since 2017 has been a key driver of investments into Uttar Pradesh.
He said UP accounted for around 18.5% of India's total tractor market and the combination of the state's market potential and CNH Industrial's technical and manufacturing expertise could create new opportunities in the sector.
Highlighting the state's industrial growth, Adityanath said the number of factories had increased from 14,000 to more than 35,000, while the number of micro, small and medium enterprises (MSMEs) has reached one crore. The startup count had also risen from 120 to over 25,000, he said.
The state was emerging as a hub for global capability centres (GCCs), he added.
Adityanath said the government was preparing an industry-ready workforce by partnering with companies such as Tata, Samsung, Microsoft, IBM, Infosys, HCL and the Hinduja Group.
He said UP had introduced more than 36 sector-specific policies, along with dedicated country desks and a large industrial land bank, to attract domestic and foreign investment, including foreign direct investment and Fortune 500 companies.
Administrative reforms, transparency, digitisation and time-bound service delivery had transformed the state's business ecosystem, he said.
Adityanath said expressways, airports and dedicated freight corridors had strengthened connectivity, while plug-and-play industrial infrastructure, industrial corridors and dedicated clusters had made setting up and operating industries easier.
He said the upcoming investors' summit would see groundbreaking ceremonies for investment proposals worth more than ₹7.5 lakh crore.
On the development of the YEIDA region, Adityanath said the authority's area was being developed across 25,000 hectares, with the Noida International Airport at Jewar serving as a key component of plans to transform the region into a major industrial, economic and logistics hub.
He cited projects such as the HCL-Foxconn semiconductor plant, electronics manufacturing cluster, apparel park, medical device park, toy park, MSME park, handicrafts park and data centre park as part of the emerging industrial ecosystem.
Praising farmers in the Jewar region for their cooperation in development projects, he said the area, once associated with crime and violence, was now emerging as an investment destination.
Adityanath said UP was moving towards its target of becoming a USD one trillion economy and had moved from the bottom five to the country's top three states in terms of the size of the economy.
He also said the state had become a revenue-surplus state and had remained among the states with the highest capital expenditure for several years.
He expressed confidence that the CNH project would give fresh impetus to farm mechanisation and modern manufacturing while creating employment and skill-development opportunities for local youth.