Double engine government of Centre, Uttar Pradesh to propel India to a US$ 35 trillion economy by 2047: Union Minister Shri Piyush Goyal

Uttar Pradesh led by Shri Adityanath’s industrial policies has become a holistic model of development: Shri Goyal

Implementation of 4Ds: Decisive leadership, Demand, Demographic Dividend, Democracy made Uttar Pradesh investment friendly: Shri Goyal

Union Minister of Commerce & Industry, Shri Piyush Goyal during his valedictory speech at the 2^nd edition of Uttar Pradesh International Trade Show (UPITS) said that Prime Minister Shri Narendra Modi’s efforts in developing Uttar Pradesh will help the state reach US$ 1 trillion economy in the first phase. 

Shri Goyal noted that the double engine Government of Uttar Pradesh led by Shri Yogi Adityanath under the guidance of the Prime Minister will help India become a US$ 5 trillion economy in the first phase, and will serve as a cornerstone for India to become a US$35 trillion economy and a ‘Viksit Bharat’ by 2047. Shri Goyal noted that the industrial and other proactive policies implemented by Shri Yogi Adityanath with the visionary goals of the Prime Minister has led the state to become a holistic model of development in the country.

Highlighting the journey of Make in India program, Shri Goyal said that PM Modi’s vision to initiate this journey on September 25, 2014 to make India a domination nation at the global stage in manufacturing will produce employment and entrepreneur opportunities for the youth.

Shri Goyal announced that a decision has been taken to celebrate the Anniversary of Make in India with the opening of the UP International Trade Show every year. The Government of India and the UP Government together have constantly prioritised making laws simpler and promote ease of doing business, he said.  He added that the Centre and the UP government in a joint effort are building an industrial smart city in Greater Noida and a total of 20 industrial smart cities are being developed across the country.

Applauding the success of the trade show in its 2^nd edition, Shri Goyal highlighted that over 2,500 exhibitors participated and over a lakh people have already attended in the four-day event from September 25-29, 2024. Shri Goyal further praised Shri Adityanath and the UP government for their efforts in skill development of the youth enabling provision of skilled and talented labour for the companies investing in the state. He said that because of this proactive initiative, migration from the state has significantly reduced with industries receiving a ready talent pool for efficient operations enabling them to expand their business and also making the state investor-friendly. UP government has been successful in not only a holistic development of the state but has also made progress in social infrastructure and human development, he said. 

Shri Goyal explaining 4Ds – Decisive leadership, Demand, Demographic Dividend and a vibrant Democracy, said that huge investments have poured into Uttar Pradesh because of its implementation by the Centre and the state government.

Highlighting the successes of first 100 days of PM Modi’s third term, Shri Goyal said that the decisions taken to benefit farmers, to increase minimum wages, build 3 crore homes under the PMAY scheme, provision for health expenditure up to Rs 5 lakh for citizens above 70 years, to built 12 more industrial smart cities and to provide employment to 4 crore youth by spending Rs 2 lakh crore over a period of five years will strengthen the society and benefit every part of the country.

Speaking about the improvement from 142^nd to 63^rd in Ease of Doing Business rankings, Shri Goyal said that the continuous efforts led by the Government has led to rise of India’s rankings in Global Innovation Index to 39^th spot out of 133 countries.  He continued that the ranking is reflective of the rise in patent filing in the country as well. The Intellectual Property Rights regime has vastly improved over the last decade. From 6,000 patents being filed in 2014 to 1 lakh patents filed last year, shows country’s growth in technology, he said.

Emphasising the importance of maintaining quality in products, the Union Minister said that India is being recognised as a quality provider of goods and services. We have to ensure that the products we manufacture, the services we provide should be of high quality and buyers should receive this quality with Made in India products, he said.

The Union Minister said that PM gave the vision of Zero Defect, Zero Effect and to make products of high sustainable quality is the need of this country and the world. He expressed hope that the youth, innovators, and startups with high quality, zero-defect production and sustainable manufacturing practices will propel India to world recognition. Manufacturing and selling of Made in India products within the country and abroad will reduce imports, boost MSMEs, help One District One Product scheme to grow and lead India to be technologically developed nation.

State economic development guidance promotes investment-friendly reforms and industrial smart cities to boost manufacturing and employment. Prime Ministerial guidance and state industrial policy are presented as the principal drivers for transforming Uttar Pradesh into a large-scale economy by leveraging decisive leadership, demand stimulation, demographic advantage and democratic governance. The operative strategy emphasises regulatory simplification, ease-of-doing-business reforms, development of industrial smart cities, and skills development to attract investment, expand manufacturing, reduce out-migration and supply firms with a ready skilled labour pool.