Uttar Pradesh has emerged as the new hub in India with some of the biggest businessmen, industrialists and entrepreneurs showing their interest in investing in the state.
In pursuit of creating an investor-friendly Environment, Uttar Pradesh has climbed up to the second rank in Ease of Doing Business (EODB) index. The State Government has also launched a single-window system named Nivesh Mitra Portal where there are over 70 Services of about 20 departments. Moreover, the state does not have any dearth of Resources or labour. With the kind of Population Uttar Pradesh has, the investors already have a gigantic consumer base to target.
The state government has been successful in facilitating investment in DEFENCE, Health, MSME, Agriculture-notes-for-state-psc-exams”>Agriculture, handloom, power and other sectors. Besides, the policy of the government has been to pursue eco-friendly solar power. Also, Uttar Pradesh has been successful in implementing 186 out of 187 reforms suggested under BRAP 19 (Business Reform Action Plan) by the Department for Promotion of Industry and Internal Trade (DPIIT) of the Central government.
Many major investment plans have also come to the state government for the next few years. The defence manufacturing corridor has an investment potential of Rs 50,000 crore. New and improved MSME policies are promoting industrial development at all levels across UP.
Defence, aerospace, Warehousing, data centre, electric vehicles and pharma are fast emerging as new investment sectors in Uttar Pradesh. Similarly, traditional sectors like electronics, information technology (IT), Food Processing, Dairy, textiles, tourism and film are also attracting investment. There is also investment potential in Solar Energy, bio-fuels and civil aviation. Most economists believe that the way to make India a five trillion dollar economy passes through Uttar Pradesh.