‘Project implementation has progressed well’

How would you explain the broader industrial development in the state in recent years?

Even our critics cannot deny the growing economic prowess of Uttar Pradesh, which, until a few years ago, was termed one of the ‘Bimaru’ states. Since 2017, the state government has been working tirelessly, and the results are evident.

We have implemented a series of policy and regulatory interventions, which have delivered positive outcomes. We are the third-largest economy (state-wise), with an impressive share of over 8 per cent of the national GDP. UP's economy is growing at 11 per cent annually, among the highest in the country. Despite being a landlocked state, we have a share of about 5 per cent in national exports. We are soon going to announce a new five-year export policy with the aim of increasing the state’s share to 7.5 per cent.

The state now has the largest rail network in the country, with a 38 per cent share of expressways in the national kitty, four international and nine domestic airports.  Furthermore, seven new airports are under construction, including the world-class Jewar Airport.

The efforts to decisively revamp the state’s economy have paid off considerably, propelling us to commit to further enhancing our growth momentum and becoming a $1 trillion economy in the not-so-distant future. 

In the last global investor summit, you had signed several large-sized MoUs with well-known firms. Have these translated into implementation of greenfield industrial projects?

The Uttar Pradesh Global Investors’ Summit (UPGIS), held in February 2023, proved to be a resounding success. With participation of over 40 nations, the summit witnessed the signing of 19,000 MoUs, projecting an investment of Rs33.5 lakh crore. These investments encompass key sectors such as manufacturing, renewable energy and infrastructure.

Building on this momentum, the ground-breaking ceremony (GBC 4.0) was held in February 2024, less than a year after UPGIS. This ceremony marked the commencement of work on over 14,000 projects, with a combined projected investment of Rs10 lakh crore. As of 17 January 2025, good progress has been made, with projects worth Rs2.6 lakh crore already completed.

Several prominent companies, including Urvashi Infratech (Rs3,400 crore), AB Miri (Rs1,677 crore), JK Cement (Rs1,200 crore), Wonder Cement (Rs834 crore), Berger Paints (Rs800 crore) and Moon Beverage (Rs756 crore), have begun their projects. 

Textile clusters in the country are reporting fresh enquiries after the crisis in Bangladesh. You also have textiles as your strength. How do you help local units to reap the benefits of this situation?

The textile sector is among the largest employment generators in Uttar Pradesh and we have made a host of regulatory interventions to further strengthen this sector. Textiles and apparel exports from Uttar Pradesh were valued at about Rs21,455 crore in 2021-22 and Rs27,369 crore in 2022-23.

Apart from the traditional clusters the Uttar Pradesh government is developing an Apparel Park Cluster by Yamuna Expressway Industrial Development Authority over 175 acres of land in Sector 29 in Noida. The government is also planning to establish about a dozen private textile parks in the state under the UP Textile and Garmenting Policy 2022. 

These textile parks can capitalise on the disruption in the textile sector in Bangladesh following political unrest, which has reportedly forced the closure of almost 1,000 small and medium textile units in that country.

You are currently hosting the world’s largest religious congregation. What kind of economic impact will it have on the state’s economy?

In the initial couple of days, over 50 million devotees – both national and international – took holy dip at Mahakumbh in Prayagraj. We estimate that eventually close to 400 million devotees will visit the ongoing Mahakumbh. 

The UP government has sanctioned more than 540 projects to create world class amenities at an estimated expenditure of Rs7,000 crore. The Mahakumbh city spread across 4,000 hectares has been set up, which has over 150,000 tents and all basic amenities including advanced medical centres and distinct pockets for businesses. Almost all of the leading consumer brands companies have ensured their presence at the holy site. On a cumulative basis, we are expecting a generation of economic activities worth Rs2 lakh crore (over $24 billion), which is staggering.