Being India’s second-largest state, Uttar Pradesh possesses immense economic might and investment possibilities. It has emerged as a transformational growth engine & its massive scale and fast-paced progression are evident from the fact that UP accounts for 9.2% of the national GDP (source: UP DIPR). Complementing its inherent strengths, the proactive investorfriendly policies and exemplary governance under the current leadership have catalyzed widespread progress. This has enabled UP to evolve into one of India’s most robust investment destinations, capitalizing on vast opportunities across diverse sectors.
In Uttar Pradesh, the acceleration of investor support is propelled by digital governance and strategic interventions, with a keen emphasis on managing the entire investment life cycle to elevate the overall business environment. This involves the creation of investor facilitation portals, such as Nivesh Mitra and Nivesh Sarathi. These platforms operate as interactive online tools, providing valuable assistance to investors throughout their engagement in the state’s investment process.
Additionally, the state has launched an ambitious plan to build India’s first AI city in Lucknow. This innovative project will house and promote the AI ecosystem, positioning UP at the forerunner of emerging technologies. Lucknow already houses prominent Centers of Excellence (COEs) in areas like AI and MedTech with extensive integration of AI. The AI COE located at the Indian Institute of Information Technology (IIIT) Lucknow alone supports over 15 AI/ML startups, fostering a culture of creativity and entrepreneurship.
As per the Expression Of Interest issued by the nodal agency UP Electronics Corporation Ltd., AI City aims to be a hub where ideas flourish and the workforce of tomorrow is reared. It will integrate world-class research centres, educational institutions, and infrastructure to promote industryacademic collaboration. 40 acres of land have been allotted by the state government for the project, with assurances on development incentives and approvals.
Financial support up to Rs. 100 crore has been proposed for setting up the enabling IT infrastructure, along with incentives for residential and commercial real estate development. The project also envisions luxury and affordable housing, dedicated institutes, and AIenabled transport systems to incubate a thriving startup culture. The other cities slated for the AI- and IT-based makeover include Kanpur, Gautam Buddha Nagar (Noida), Varanasi, and Prayagraj (Allahabad). Such futuristic measures underline UP’s commitment to leverage new opportunities, further strengthening its appeal as one of the world’s most progressive investment hotspots.
UP has also witnessed tremendous infrastructure development in the state with significant growth on land, water, and air. Chief Minister Yogi Adityanath recently affirmed to the House that UP will soon become the first state with 21 airports.
In the fiscal year 2023-24, a budget of INR 55,005 crore has been earmarked for diverse infrastructure projects. These initiatives encompass the construction of expressways, roads, and metro systems, aiming to establish Uttar Pradesh as one of the most well-connected states in the country.
CM Yogi has also announced that following the completion of the Purvanchal Expressway and Bundelkhand Expressway, the construction of the Gorakhpur Link Expressway will commence. Additionally, the Ballia Link Expressway is currently in progress, while efforts are underway to build the Chitrakoot Link Expressway. Before the Prayagraj Mahakumbh, endeavors are being made by the government to initiate the Ganga Expressway. Supported by the Indian government, construction of the Lucknow-Kanpur Link Expressway and Ballia Link Expressway is underway. Over the past seven years, a total of 1235 fourlane projects have been advanced across various districts of the state.
“In 2017, two airports in the state, Varanasi and Lucknow, were fully operational. Today, there are 10 operational. airports, providing air services to more than 75 destinations with 150 flights. From 2016-17 to 2023, there has been a 100-fold increase. in the number of air travelers. An Inland Waterway Authority has been created for connectivity in the perennial rivers here. Under this, the. construction of a multi-modal terminal in Varanasi district has been completed. Currently, we have the largest rail network”, Yogi added.
CM Yogi further stated that Uttar Pradesh has now become a business hub and a dream destination for investment. When the law and order are good, and the government’s intentions are clear, investments are bound to flow into the state, he remarked. Investors across the country and the world want to come for investment and the GIS 2023 is the best example of this, with proposals for investment of around Rs 40 lakh crore.
CM Yogi added that these achievements have been facilitated by UP’s robust law and order situation, conducive business environment, investor-friendly policies, streamlined single-window system, and accountable, transparent policies.
The substantive growth witnessed by the state has been owing to the investment opportunities across the focus and sunrise sectors. We take a peek into the key enablers across these sectors accelerating the rise of UP as a preferred investment destination.
Transforming Energy Landscape
Uttar Pradesh has witnessed notable advancements in the realm of renewable energy over the past seven years. Within this period, the state has successfully augmented its renewable energy capacity to a cumulative 4300 MW, with 2300 MW harnessed from solar energy and 2200 MW from bioenergy. To amplify these efforts, the Uttar Pradesh Government has introduced the UP Solar Energy Policy 2022 and Bioenergy Policy 2022, presenting advantageous opportunities for both investors and the general public in the state.
With an unwavering commitment to fostering sustainable development, the Government of Uttar Pradesh envisions a shift towards clean energy. As part of the broader goal to build a 1 trillion dollar economy, the government, in collaboration with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), the designated nodal agency for renewable energy initiatives, actively promotes the adoption of diverse renewable energy sources.
The state has observed a substantial increase in power generation capacity over recent years. In 2016-17, the total installed capacity was 5,600 MW, which has now surged to an impressive 8,688 MW. Notably, village electrification has also experienced remarkable growth, covering 128,494 villages in 2017 to a current total of 249,818 villages, ensuring comprehensive electrification across the state.
From 2012 to 2017, approximately 8.44 lakh electrification projects were completed. However, from 2017 to the present, this figure has surged more than 20 times, reaching 1.65 crore completed projects. As stated by the Chief Minister, before 2017, electricity availability was irregular. Since then, rural areas now receive power for an average of 18 hours daily. Tehsil headquarters enjoy a supply for 21-22 hours, while district headquarters have access to 24/7 electricity.
Notably, the installed solar capacity has increased tenfold, rising from 288 MW in 2017 to an impressive 2,596 MW currently. Notably, Ayodhya and Varanasi are being developed as Solar Cities, featuring groundbreaking initiatives like a 10 km solar-powered smart road in Ayodhya, setting a world record. Furthermore, the Bundelkhand Expressway is being transformed into a Solar Expressway, underscoring the state’s commitment to renewable sources of energy for a sustainable future.
Solar Cities
In a visionary move to boost solar energy usage, the Uttar Pradesh government has unveiled ambitious plans to transform 17 major cities, including the revered Ayodhya and Varanasi, into solar cities. This groundbreaking initiative begins with the development of solar cities and extends to the government’s commitment to replicate the model in solar villages.
The Ayodhya Solar City project involves the installation of more than 2,500 solar-powered streetlights, underscoring the city’s deep commitment to sustainability.
Chief Minister Yogi Adityanath had recently inaugurated a solar boat service in Ayodhya, showcasing the city’s dedication to innovative green solutions. Ayodhya already proudly features solarpowered amenities like ATMs and solar trees at 40 intersections, symbolizing its wholehearted embrace of renewable energy.
As Ayodhya takes the lead in embracing solar energy, Varanasi, another significant city, is making strides by installing rooftop solar plants on government buildings. Under this initiative, Varanasi is poised to welcome the installation of 25,000 rooftop solar plants, cementing its status as a trailblazer in solar innovation. The future shines bright as these cities illuminate the path toward a more sustainable and eco-friendly future.
IT & ITES Driving Future Growth
The state of Uttar Pradesh has been proactively shaping a conducive environment to attract investments and accelerate the growth of its burgeoning IT & ITES industry. Recognizing the immense potential of the digital economy, the Yogi Adityanath-led government has introduced a slew of progressive policies, incentives, and infrastructure developments. From setting up dedicated industrial parks with world-class facilities to nurturing local innovation ecosystems, the efforts are bearing fruit. Global and domestic tech giants are now looking at UP with renewed interest, especially lured by the availability of a skilled talent pool and low cost of operations. With several big-ticket investments already in the pipeline, the supportive climate has started enabling the state to emerge as the next destination of choice for the knowledge-based industry.
Recognizing the IT & ITES industry’s role in job creation, entrepreneurship, and overall economic progress, the government has rolled out a comprehensive suite of incentives and reforms. These include capital subsidies up to 10% of investment value, interest subsidies, reimbursements on operating expenses, patent filing costs, and employee recruitment.
Land and infrastructure needs are supported through 25% reimbursement on land costs up to Rs.50 Cr and a 100% stamp duty waiver for initial investments. Skill development is fostered through 50% course fee subsidies and patent grants.
The ease of doing business is further strengthened through facilities such as single window clearances and universal accessibility of government services digitally. Special focus is placed on nurturing local startups through grants and incubation programs.
These progressive measures seek to cultivate a thriving technology ecosystem in UP. By attracting domestic and global enterprises, investments under the policy will not only generate employment but also spur innovation across emerging domains of AI, IoT, blockchain, etc.
With its pro-investment stance and talent pool of over 200 million, UP is well-placed to emerge as a premier tech hub of Northern India. As digital technologies increasingly drive future progress, the new policy envisions harnessing their full potential for an inclusive and sustainable development of the state.
Food Processing Policy Empowering Growth
UP boasts a well-established supply chain encompassing procurement, storage, processing, and distribution. The state government has implemented several initiatives to foster the food processing industry, such as the PM SAMPADA Yojana, Mega Food Parks, and Cold Chain projects. These endeavors focus on offering essential infrastructure, technology, and financial support to propel the industry forward.
In addition to these efforts, the state hosts a dedicated training center, the State Food Processing Institute, along with other centers that provide training and skill development opportunities for entrepreneurs and workers engaged in the food processing sector.
In a strategic move to cultivate the immense potential of the food processing sector, the UP Government has introduced the comprehensive Food Processing Industry Policy 2023. With a vision to position Uttar Pradesh as a leading hub for food processing, this policy capitalizes on the state’s abundant agricultural resources and skilled workforce.
Key Incentives to Drive Private Investment
The policy offers a diverse range of incentives to attract private investments, including substantial capital subsidies of up to 35% for new units and 25% for expansion projects. Land acquisition norms have been streamlined, and various charges have been exempted to facilitate a conducive investment environment.
Boosting Infrastructure Development
Emphasizing infrastructure development, the policy provides grants for the establishment of processing clusters, cold chain networks, and decentralized facilities. Strengthening backward and forward linkages is a priority, ensuring a seamless supply chain for the food processing industry.
Empowering Rural Participation
A special focus is placed on enhancing rural participation through support for Self Help Group (SHG) and Farmer Producer Organization (FPO) led projects. Women entrepreneurs receive additional subsidies on solar power utilities for their production units, fostering inclusivity in the sector.
Ease of Business Initiatives
Regulatory reforms, such as common market mandates across UP and freight subsidies on exports, are further enhancing the ease of doing business. Certification initiatives are introduced to enable farmers to add value to regional crops.
Vision for Sustainable Scaling
With a robust framework and collaborative approach, the policy envisions the sustainable scaling up of food processing activities. This strategic move aims to optimize agricultural efficiency, create new skills, and generate job opportunities.
Leveraging Agricultural Potential for National Impact
Uttar Pradesh’s strategic initiative is poised to leverage its agricultural potential, propelling overall growth by positioning the state as a pivotal processor and supplier of food products nationwide. This comprehensive policy marks a significant step towards a flourishing and self-reliant food processing industry in the state.
Travel & Tourism Driving Growth Opportunities
From the sacred city of Ayodhya to the undiscovered natural treasures, Uttar Pradesh stands as a promising destination for the flourishing travel and tourism sector, rapidly emerging as India’s most preferred tourism hub. In the initial nine months of 2023, this northern Indian state warmly welcomed over 32 crore tourists.
Boasting a diverse array of more than twenty globally renowned tourist destinations, spanning various faiths, and hosting three UNESCO World Heritage Sites, Uttar Pradesh is actively enhancing its travel infrastructure and amenities. The state is committed to developing seamless multi-modal connectivity, introducing new tourism infrastructure, cultivating brand identity, and creating niche thematic products within or beyond its twelve Mega Tourism Circuits. These initiatives are a collaborative effort involving state resources and private sector participation.
The UP Tourism Department’s “Tourism Policy 2022” has been implemented to stimulate tourism-related investments, foster increased private sector engagement, facilitate asset creation (both hard and soft infrastructure), enhance the capacity of tourism service providers, and promote a holistic, responsible, and sustainable tourism ecosystem. The policy significantly boosts direct contributions, offering a capital subsidy of up to 30% per project, leading to heightened operational efficiencies and expedited project execution. This policy has also opened up investment opportunities across 33 new categories of Tourism Units.
Logistics & Warehousing
Uttar Pradesh’s logistics and warehousing ecosystem is evolving rapidly, driven by a strategic geographic location, robust infrastructure development, and proactive government policies. Rapid industrialization in the state is also creating a higher demand for more sophisticated logistics infrastructure in the State. Uttar Pradesh’s commitment to creating a conducive environment for logistics and warehousing has resulted in a flourishing ecosystem, presenting lucrative investment opportunities.
Strategic Geographic Location
Uttar Pradesh, with its central location in India, serves as a pivotal logistics hub. Its proximity to major consumer markets, industrial clusters, and ports enhances its strategic importance for efficient supply chain management.
Infrastructure Development
The state’s significant investment in infrastructure development is a key driver for the logistics sector. Well-connected highways, upcoming dedicated freight corridors, and modernized airports contribute to seamless transportation networks, facilitating the swift movement of goods.
Government Policies and Support
Uttar Pradesh has introduced progressive policies to boost the logistics and warehousing sector. The state offers incentives for investment in warehousing infrastructure, making it an attractive destination for businesses. Policy initiatives include simplifying regulatory processes, tax benefits, and support for technology integration in logistics operations. Uttar Pradesh Warehousing and Logistics Policy 2022 has been useful in creating an international-level business environment and in making this sector integrated, cost-efficient, flexible, and creating a sustainable logistics ecosystem in the country by optimizing regulatory norms and separating supply-side bottlenecks.
Investment Opportunities
Warehousing Facilities: Ample opportunities exist for the establishment of modern warehouses and distribution centers to cater to the growing demand for storage and distribution services.
Transportation and Last-Mile Connectivity:
Investing in transportation solutions and last-mile connectivity infrastructure presents a promising avenue, addressing the need for efficient movement of goods within and beyond the state.
Technology Integration: Companies investing in cutting-edge technologies for warehouse management, inventory tracking, and logistics optimization can capitalize on the evolving market demands.
Cold Chain Infrastructure: With a focus on supporting the agro-processing industry, there are significant prospects for investments in cold chain logistics, ensuring the seamless transport of perishable goods.
Uttar Pradesh’s logistics and warehousing ecosystem is poised for sustained growth, fueled by strategic advantages and robust government support. The state’s commitment to creating a business-friendly environment, coupled with its geographic centrality, makes it an attractive destination for investors looking to capitalize on the dynamic logistics and warehousing sector.
Handloom & Textile Weaving Uttar Pradesh’s Script For Success
In Uttar Pradesh, the textile sector is a vital traditional industry, ranking as the third-highest fabric-producing state in India, contributing 13.24% to the national production. The state houses approximately 1,99,000 handloom weavers and 5,00,000 power loom weavers, forming natural clusters over centuries. The region’s Silk sarees from Varanasi and Mau, Chikankari from Lucknow, Zari-zardozi from Lucknow, Bareilly, and Shahjahanpur, Carpets from Bhadohi, Mirzapur, and Sonbhadra, and Durries from Sitapur are nationally recognized, many carrying the Geographical Indicator (GI) tag. In 2021- 22, textile and apparel exports from Uttar Pradesh reached INR 20,000 Cr (USD 2.46 billion), solidifying its position as India’s largest market with a consumer base of 240 million people.
Gautam Budh Nagar and Kanpur districts host some of India’s largest readymade garment and hosiery clusters, creating extensive employment opportunities. Recognizing this potential, the Indian Government has extended various benefits to the Textile and Apparel sector. The top contributors to Foreign Direct Investment (FDI) in India’s Textile sector from April 2016 to March 2021 include Japan, Mauritius, Italy, and Belgium, providing market access arrangements benefiting investors in Uttar Pradesh. The state offers diverse investment opportunities across the value chain, encompassing Garmenting, Dyeing, Fabric production, Spinning, and Apparel design and manufacturing.
Opportunities Across the Textile Value Chain
Uttar Pradesh presents vast potential for man-made fiber and filament manufacturing, aligning with changing consumer preferences emphasizing health and hygiene. The spinning sector in the state is globally competent, marked by advanced technology, competitive pricing, and high-quality standards. Continued growth and adoption of new technologies are anticipated. The state holds a prominent position in the world’s highest installed weaving capacity, with strengths in fabric manufacturing. However, untapped opportunities lie in valueadded and specialty fabrics. With a substantial labor force, particularly with a high rate of female participation, the state can become a vital link in the global value chain through stitching for the apparel industry. The apparel industry, a significant job generator, has the potential to create 70 jobs for every INR 1 crore (USD 122,925) invested, outperforming the average job creation in other industries. Lastly, the technical textile sector, a burgeoning knowledgebased industry in India, offers extensive opportunities for joint ventures and Foreign Direct Investment (FDI).
Pharma Momentum in Uttar Pradesh
At the heart of India’s pharmaceutical sector, Uttar Pradesh, the nation’s most populous state, leverages its substantial population and robust manufacturing and healthcare infrastructure. A beacon of innovation and entrepreneurship, the state hosts over 10,000 registered startups and more than 60 incubation centers, fostering a dynamic ecosystem for creativity and business ventures. The commitment to nurturing innovation is exemplified by the establishment of ‘Promote Pharma,’ a dedicated institution for pharmaceutical research and innovation.
Moreover, Uttar Pradesh leads the country in the number of Micro, Small, and Medium Enterprises (MSMEs), playing a pivotal role in the state’s manufacturing sector expansion. As a top manufacturing hub in India, the state accommodates 608 manufacturing units across various pharmaceutical categories, supported by an extensive distribution network featuring 71,000 wholesale and 108,000 retail drug sale licenses.
Substantial investments in healthcare, evident in the `32,009 crore allocations in the 2021-22 budget for health and family welfare, coupled with a strong focus on education and skill development, underscore the state’s dedication to sectoral growth. The ambitious plans include operationalizing 49 nursing schools and 49 paramedical schools over the next five years, increasing educational seats significantly. This includes adding 7,000 MBBS seats, 3,000 postgraduate seats, 14,500 in nursing, and 3,600 in paramedical courses, ensuring a robust supply of skilled professionals for the pharmaceutical industry.
In tandem with this focus on education and infrastructure, a transformative initiative unfolds with the inauguration of a Pharma Park in Lalitpur, Bundelkhand, sprawling across 1,472 acres. Led by the Uttar Pradesh State Industrial Development Authority (UPSIDA), this ground-breaking project, initiated in two phases starting with 300 acres, marks a substantial stride in augmenting the state’s manufacturing capabilities. Employing cutting-edge surveying techniques for precision, this ambitious endeavor showcases Uttar Pradesh’s aspirations to become a key hub in India’s pharmaceutical landscape
Backed by strategic investments in healthcare infrastructure, a thriving startup ecosystem, and a commitment to bolstering education and skill development, Uttar Pradesh is poised to strengthen its foothold as a major player in the pharmaceutical industry. The state, with plans to kick-start projects worth Rs. 10 Lakh crore, exemplifies its standing as one of the fastest-growing economies in India. The outlook for Uttar Pradesh’s pharmaceutical sector is promising, aiming to enhance healthcare outcomes for its populace and significantly contribute to the growth of India’s pharmaceutical industry.
Skilling For the Future
Uttar Pradesh, under the Yogi Government, is making waves in skill development, opening doors to employment for thousands. In the fiscal year 2023- 24, they’ve notched up big wins, placing 36,843 trained candidates from industrial training institutes into jobs. The Uttar Pradesh Skill Development Mission has further contributed by placing 29,354 trainees in various companies.
This implies over 66,000 young folks across the state now have jobs thanks to vocational education. What’s impressive is that these opportunities reach every nook and cranny, touching students from all 75 districts across Uttar Pradesh. This positive news came out during the recent budget session of the UP Vidhan Sabha. In a recent assembly session, Kapil Dev Aggarwal, the Minister of State for Vocational Education and Skill Development (Independent Charge), shared ongoing efforts to get the youth into vocational education to secure them employment. They’re offering training in 84 trades across industrial training institutes, following standards set by the National Council for Vocational Education and Training (NCVET) of the Government of India.
Moreover, the Uttar Pradesh Skill Development Mission is running 386 short-term courses in various sectors. These courses cover both traditional and modern trades like ITES, Electronics, Aerospace, and Healthcare. It’s a move towards staying current and relevant & ensuring that skills translate into opportunities.
Electric Revolution Redefining the Mobility Landscape
Uttar Pradesh is also leading the charge in the electric vehicle (EV) revolution in India, showcasing impressive sales figures of 66,701 units. This surge is particularly evident in the three-wheeler segment, positioning the state as a frontrunner in EV adoption. While Karnataka and Maharashtra dominate in two-wheelers and four-wheelers, Uttar Pradesh proudly hosts 3,37,180 EVs on its roads, making a substantial contribution to the national tally of 13,34,385 EVs. The state has capitalized on the benefits of the FAME 1 & 2 schemes initiated by the Government of India.
Concurrently, Uttar Pradesh is making significant investments in charging infrastructure, with 207 stations sanctioned under FAME II. These strategically positioned stations span nine cities, including Noida, Lucknow, Varanasi, Prayagraj, Kanpur, Aligarh, Saharanpur, Bareilly, and Jhansi. The state is also propelling EVs into public transportation, deploying electric buses on key routes through strategic partnerships with private entities. Special tariff orders for EV charging have been implemented, aligning the state with the charging infrastructure standards set by the Union Government.
Uttar Pradesh’s comprehensive EV strategy revolves around three core pillars: building robust charging infrastructure, accelerating EV adoption, and promoting domestic manufacturing. These pillars are anchored in key success factors, including affordability, convenience, technology, and awareness. The state’s phased approach aims to seamlessly transition its transportation system to EVs, stimulate demand through public transportation initiatives, and attract investments for indigenous manufacturing.
Underlining this commitment, the New Electric Vehicle Manufacturing and Mobility Policy 2022 emphasizes the critical role of charging infrastructure in driving EV adoption. This well-thoughtout strategy creates an enabling environment for both public and private charging infrastructure, including swapping facilities, marking a significant stride towards sustainable electric mobility in Uttar Pradesh.
Uttar Pradesh’s Infrastructure Surge
In recent years, Uttar Pradesh has experienced an impressive upswing in infrastructure development, with a keen focus on intelligent and sustainable projects across land, air, and water domains. This concerted effort has not only elevated the living standards for citizens but has also positioned the state as a prime destination for lucrative investments.
Air Connectivity Enhancements
- Uttar Pradesh’s strategic expansion of its air infrastructure includes seven strategically located domestic airports, facilitating seamless travel within the state and beyond.
- The state’s three international air ports, concentrated in cities like Lucknow and Varanasi, serve as vital gateways connecting Uttar Pradesh to key destinations globally, creating opportunities for trade, tourism, and cultural exchange.
- The ambitious Regional Connectivity Scheme (RCS) has further strengthened regional air connectivity, with completed projects in Prayagraj, Hindon, and Bareilly, and six ongoing initiatives promising economic development.
Revolutionizing Inland Waterways
- As a trailblazer in India’s inland water transport sector, Uttar Pradesh inaugurated the country’s first inland waterway project, National Waterway 1 (NW1), stretching from Allahabad to Haldia.
- Covering a significant 26% of the state’s catchment area, NW1 links major exporting hubs to Haldia Port, unlocking vast economic potential.
- The inauguration of India’s first Multi-Modal Terminal (MMT) at Varanasi enhances connectivity and trade efficiency along NW1, offering substantial investment opportunities.
Expressways Driving Connectivity
- Uttar Pradesh is undergoing a transformative shift in its transportation infrastructure with state-ofthe-art expressways, exemplified by the Agra-Lucknow Expressway, reducing travel time and enhancing accessibility.
- On-going and proposed projects, including the Purvanchal Expressway and Bundelkhand Expressway, present lucrative investment opportunities, promising to bolster connectivity and economic growth further.
Rail Transport and Road Network
- With an extensive rail track length of 8949 kms, UP boasts the largest railway network in India, presenting opportunities for investment in a crucial transportation hub.
- The state’s expansive road infrastructure, spanning over 4 lakh kms, offers avenues for investment, including 11,737 kms of national highways ensuring seamless connectivity.
Metro Opportunities
- Urban transportation is witnessing a revolution with operational metros in Lucknow and Noida, while upcoming projects in Kanpur and Agra open up investment prospects to revolutionize intra-city travel.
Industrial Corridors and Defence Initiatives
- Uttar Pradesh is on the cusp of extraordinary growth with major industrial corridors like Delhi Mumbai Industrial Corridor (DMIC) and Amritsar Kolkata Industrial Corridor (AKIC), offering substantial opportunities for industrialization and job creation.
- The Uttar Pradesh Defence Industrial Corridor (UPDIC) beckons investors with an estimated investment of Rs. 50,000 Crore and the potential to generate 2.5 lakh job opportunities.
Budget 2024-25: A Catalyst for Investment
- The state budget’s allocation of Rs. 55,000 crore for transformative transport infrastructure projects serves as a testament to Uttar Pradesh’s commitment to becoming an attractive investment destination.
- Key highlights, including schemes for urban flooding, urban services, smart cities, housing for the poor, and continued support for urban infrastructure development, present diverse investment opportunities.
Smart & Sustainable Infrastructure
Recognizing the pressing need for efficient infrastructure, Uttar Pradesh is gearing up for smart and sustainable initiatives. The government’s visionary move to convert 17 major cities, including Ayodhya, Noida and Varanasi, into solar cities, extends the model to rural areas, presenting investment opportunities in sustainable infrastructure projects.
As UP continues its investment in world-class infrastructure, it not only solidifies its position as a dynamic hub for investment, innovation, and growth but also offers a promising landscape for investors seeking diverse and lucrative opportunities. The state’s emphasis on smart and sustainable infrastructure underscores its commitment to meeting the demands of its growing population while providing investors with opportunities for long-term resilience and prosperity.
Thriving Defence And Aerospace Sector
With a robust infrastructure and a supportive ecosystem, UP’s policy framework is strategically designed to attract investments in the following areas within the Aerospace and Defence (A&D) sector:
1. Defence Parks: Opportunities abound in Defence Parks, especially in Kanpur and other districts like Varanasi, Agra, and Gautam Buddha Nagar, providing an excellent environment for defence-related industries.
2. Defence Public Sector Undertakings (DPSUs): The state welcomes investments in Defence PSUs, offering a conducive atmosphere for their growth and expansion.
3. Aircraft/Helicopter Manufacturing and Assembly Units: Uttar Pradesh presents a fertile ground for the establishment of Aircraft and Helicopter Manufacturing and Assembly Units, creating opportunities for both domestic and international players.
4. Military Component and Automobile Manufacturing: The state is poised for investments in manufacturing military components and automobile components for military use, tapping into the growing demand in these sectors.
5. Testing Facilities for Military Equipment: Investors have the chance to establish testing facilities for military equipment, contributing to the development and enhancement of cuttingedge defense technologies.
6. Police Modernization: UP offers opportunities for investments in police modernization projects, aligning with the evolving needs of law enforcement agencies.
7. Forensics Centers: The establishment of Forensics Centers is a potential investment area, addressing the increasing demand for advanced forensic capabilities.
8. Ordnance Manufacturing and Testing Facilities: Entrepreneurs can explore investments in Ordnance Manufacturing and Testing Facilities, supporting the production and evaluation of military ordnance.
9. Missile Components Manufacturing: The state welcomes investments in the manufacturing of missile components.
10. Multipurpose Parks: Opportunities extend to Multipurpose Parks, creating a diverse environment for various defense-related activities.
11. Development of Facilities for Unmanned Aerial Systems (UAS): Investors can play a role in developing facilities for testing and assembling Unmanned Aerial Systems, a rapidly growing sector in the defense industry.
Uttar Pradesh’s strategic location and conducive policies make it an attractive destination for investments in the defense and aerospace domains. The state’s commitment to fostering growth in these sectors creates a promising landscape for businesses seeking opportunities in defense manufacturing and R&D.
In a short span, UP has transformed into a role model for effective governance, new economic opportunities, and improved quality of life. Its allaround progress on indices such as irrigation coverage, urban regeneration, skill development, and startup culture is truly laudable. As UP continues powering India’s rise with a vibrant workforce and strategic location, its future remains bright. The next phase will focus on knowledge-based industries, smart infrastructure, and sustainability – taking this northern giant’s success story to even greater heights.
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