Lucknow: Chief Minister Yogi Adityanath on Tuesday in Uttar Pradesh, which has established itself as a state with unlimited potential, files no longer get entangled in the web of governance and departments and this is the reason why this state has become the favourite of every industrialist from the investment point of view.
Addressing the FDI Conclave on the theme of ‘UP-Emerging Destination for Foreign Investment in India’ at Indira Gandhi Pratishthan, the Chief Minister said the state has started a new effort. “Earlier the files here used to get entangled in the web of government and departments. Today the single window portal ‘Nivesh Mitra’ is dedicated to serving entrepreneurs.”
He said, “Nivesh Sarathi portal is working to serve the investors for monitoring of Memorandum of Understanding (MoU). The incentive monitoring system for investors is working effectively in Uttar Pradesh. An effort has been made to solve your problem by using technology to make it even better. Uttar Pradesh is ready to protect the interests of its investors,” he said.
Yogi assured the investors that their investments will be safe in Uttar Pradesh and contribute to bringing new joy to business. He said Uttar Pradesh has undergone a significant transformation in the past six to seven years.
He said, “This is the new Uttar Pradesh of new India, Viksit Uttar Pradesh of Viksit Bharat. Seven years ago, Uttar Pradesh was labelled as a BIMARU (sick) state, perceived as a hindrance to the nation’s progress. However, today, UP has shed this label, emerging as a state of ‘Unlimited Potential’.”
The Chief Minister said, “We possess ‘Prakriti’ (nature), ‘parmatma’ (God), and ‘Pratibha’ (the talent of our youth). Through this confluence, we are propelling Uttar Pradesh forward 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.”
During the conclave, he along with Union Ministers and other dignitaries, released a booklet. A short film illustrating Uttar Pradesh’s transformation was also screened at the event.
Yogi assured that the state government is fully committed to meeting the targets set by the Prime Minister within specified timelines. “Aligned with the Prime Minister’s directives, we are determined to propel Uttar Pradesh as the growth engine of India,” he said.
Reflecting on the state’s remarkable turnaround from its BIMARU state label, he credited the Prime Minister’s visionary leadership as the catalyst. “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,” he said.
The Chief Minister said, “The tangible outcomes of these efforts are evident, with Uttar Pradesh now emerging as the second-largest economy in the nation, jumping from its previous sixth position. Additionally, the state has become a revenue surplus state and earned the distinction of being the first to introduce FDI and the Fortune Global 500 policy.”
He said between 2019 and 2023, Uttar Pradesh attracted four times the amount of Foreign Direct Investment (FDI) compared to the cumulative FDI received from 2000 to 2017 over 17 years. “This remarkable increase underscores the confidence investors have in Uttar Pradesh attributable to its secure environment and transparent government policies,” he said.
Yogi pointed out that esteemed 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 Uttar Pradesh. “The success of the Global Investors Summit (GIS) 2023, which garnered investment proposals totalling 400 billion dollars, further underscores Uttar Pradesh’s status as a premier destination for FDI,” he said.
He said, “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.”
The Chief Minister underscored a significant initiative undertaken by Uttar Pradesh aimed at simplifying bureaucratic processes that were previously cumbersome and time-consuming.
