LUCKNOW, Feb 20 : Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday said the state has undergone a significant transformation in the past six-seven years and this is the ‘new Uttar Pradesh’ of ‘new India’.
He was speaking at FDI conclave- ‘UP: An Emerging Destination for Foreign Investment in India’ here.
“Seven years ago, UP was labelled as a BIMARU state, perceived as a hindrance to the nation’s progress. However, today, UP has shed this label, emerging as a state of ‘Unlimited Potential’,” he said.
The chief minister highlighted that UP is moving forward with the confluence of ‘prakriti’ ‘parmatma’ and ‘pratibha’ and determined to become growth engine of India.
“We possess ‘prakriti’ (nature), ‘parmatma’ (God), and ‘pratibha’ (the talent of our youth). Through this confluence, we are propelling UP…Under the guidance and leadership of the Prime Minister. Over the past seven years, we have accomplished significant milestones, including doubling the state’s economy and per capita income.”
The chief minister noted that between 2019 and 2023, UP attracted four times the cumulative Foreign Direct Investment (FDI) in 2000-2017 period.
This remarkable increase underscores the confidence investors have in UP, attributable to its secure environment and transparent government policies, he said.
Adityanath said that Fortune Global 500 companies such as Samsung, Microsoft, LG, PepsiCo, Nayara Energy, Reliance Industries, Tata, Hindustan Unilever, Haier, and Ikea are actively expanding their operations in UP.
The success of Global Investors Summit (GIS) 2023, which garnered investment proposals totalling USD 400 billion, further underscores the state’s status as a premier destination for FDI.
To facilitate and encourage investment, the government has formulated policies offering exemptions in various areas such as land-capital subsidy, stamp duty, registration, and electricity duty.
Uttar Pradesh has thus emerged as an enticing prospect for Fortune Global 500 companies seeking growth opportunities. Inviting investors from both domestic and international arenas, the chief minister assured them of a secure investment environment and urged them to capitalize on the state’s facilitative measures.
He highlighted the implementation of ‘Nivesh Mitra’ — a single window portal that serves as a dedicated platform for investors. The portal is diligently monitoring MoUs to ensure investor satisfaction.
Adityanath credited the Prime Minister’s visionary leadership as the catalyst for the state’s growth.
“We embraced the Prime Minister’s vision as our mission, implementing targeted policies across various sectors and fostering a conducive environment marked by exemplary law and order.”
The tangible outcomes of these efforts are evident, with UP now emerging as the second-largest economy in the nation, jumping from its previous sixth position, the chief minister said, adding that UP has become a ‘revenue surplus’ state and earned the distinction of being the first to introduce FDI and the Fortune Global 500 policy.
Union Minister Piyush Goyal said, “Today the whole world is talking about UP and Lucknow. UP has witnessed a rapid pace of change under the leadership of Yogi Adityanath and the guidance of Prime Minister Narendra Modi. The state is not going to stop now.” (PTI)
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