Huge commitments to invest in UP at Global Investors Summit has been due to the honest government and safe environment in the state: Union Commerce and Industry Minister, Shri Piyush Goyal

Shri Goyal hails UP administration and people for laying the foundation of a progressive state

Recent increase in exports and in the number of Start Ups in UP shows the immense possibilities for investors: Shri Goyal

Recent and upcoming FTAs to open markets and attract investments for winery products of UP across the world: Shri Goyal

There have been commitments to the tune of lakhs of crores to invest in Uttar Pradesh and this has been made possible due to the honest government and safe environment in the state, Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal said, while addressing the UP Global Investors Summit in Lucknow. 

The fast pace of progress that we can see and feel in the Global Investors Summit in Uttar Pradesh is due to the capable leadership of Chief Minister Yogi Adityanath, he said, adding that Uttar Pradesh is now on the move and no one can now stop its progress. 

Shri Goyal recounted the story that started way back in 2017 when UP Assembly elections were in progress. 'At the time we were given the task of making a manifesto for the party. We met people across the state and people from all sections of life wanted change and able administration. We wondered where we will get the required funds to do what was to be done. Prime Minister was clear that whatever we promised in the manifesto will have to be implemented', he said.  

The Minister said that at the time Home Minister Shri Amit Shahji said that we will have to do three things: to put an end to land-mafia, sand-mafia and liquor mafia. Shri Shah said that if we are able to do this, there will never be a shortage of resources in the state, Shri Goyal added. The way UP has progressed in recent years shows that an honest government, a government working for the welfare of the people, a government that does not tolerate any wrongdoing, can ensure necessary revenues and take the state to new levels of achievement, Shri Goyal said.

Union Commerce Minister pointed out that there have been commitments of several lakhs of crores rupees by investors at this Summit. It is the proof that the people now believe that it is now easy to invest in the state, that the state has an honest system, that law and order is in place and the investors have invested their faith in the people of the state, he said. They believe that the people of UP will, even in the future, vote for such honest government, he added. 

Speaking of Ease of Doing Business Ranking, Shri Goyal said that it is done across the country to assess where it is easy to do business and that India has jumped in the global ranking in the recent years. He pointed out that the Prime Minister believed in competitive and collaborative federalism and therefore there is a ranking of states also. UP now ranks at number 2 in the country among the states, he said. 

The progress of Start Up India in Uttar Pradesh is a matter of satisfaction, Shri Goyal said. UP was an emerging ecosystem state in 2020 but in 2021 ranking, UP is the leader in Start Up ecosystem, he pointed out. There are 8,277 Start Ups in the state and the state is on 4th number, he said. Shri Goyal wondered “Who could have thought this possible a few years ago?” He said that he had the opportunity to speak to some young men and women who are running some of these Start Ups and could see their enthusiasm and their wonderful ideas.

Shri Goyal said that India signed three important Free Trade Agreements last year and this year also we were hoping to sigh two or three FTAs. They will open the doors for the breweries and wineries of UP as they will get market access, investments and technologies. “I saw in the presentation today that there are 28 fruits and 4 flowers excluding grapes that are found in UP which can produce various kinds of wine in the state. These products will have ready markets worldwide,” he added.

Shri Goyal pointed out that the increase of UP’s excise has gone up three times despite reduction in rates. This is because of the honest system enforced in the state and due to breaking the back of liquor mafia. This is an example for the entire country, he concluded.The speeding up of approval of licencing in the state has helped the state attract investment and it is smooth and investor friendly, Shri Goyal said.

Shri Goyal said that Prime Minister has asked all states to take export as a special responsibility and in this,UP has taken a lead. One District One Product was taken seriously and now in the last 5 years the exports from UP has doubled. Telecom equipment export from UP has increased 63 times, fruits and vegetables have increased 26 times in this period, he noted. There are immense possibilities for the state to grow. 

This is truly a land of opportunities because we are doing reforms not because of any pressure but because of our conviction that it will take the state and country ahead in Amrit Kaal. This summit has been done at the right time to attract large amounts of investment in the state, Shri Goyal concluded.

Investment facilitation through governance reforms boosts investor confidence and expands market access under trade initiatives. Investment facilitation in Uttar Pradesh is attributed to governance reforms, law-and-order measures, and administrative transparency that have increased investor confidence; accelerated licensing approvals and streamlined procedures reduce barriers to business. Recent and prospective Free Trade Agreements are presented as mechanisms to expand market access and technology inflows for local industries, while targeted export promotion and district-level product strategies have diversified and increased exports. Enhanced excise collections, despite rate reductions, are linked to stricter enforcement and disruption of illicit supply channels.