Q.12. What recent initiatives has the Government of Uttar Pradesh undertaken to attract investment in the State?

The Government of Uttar Pradesh has undertaken several recent initiatives to attract investment in the state, focusing on creating a favorable investment climate and boosting economic growth. Here are some of the key initiatives:

• UP FDI, Fortune Global 500 & Fortune India 500 Companies Investment Promotion Policy 2023:
  • This policy is designed to incentivize investments from companies with significant Foreign Direct Investment (FDI) and those listed in the Fortune Global 500 and Fortune India 500.
  • It offers an attractive incentive package, including land subsidies, capital subsidies, and SGST-related incentives.
• Ease of Doing Business:
  • The state government has made efforts to improve the ease of doing business by streamlining procedures and providing a more transparent regulatory environment.
• Infrastructure Development:
  • There is a focus on improving infrastructure availability, which is crucial for attracting investments.
• Law and Order:
  • Improving the law and order situation to provide a secure environment for businesses and investors.
• Sector-Specific Industrial Corridors:
  • Development of sector-specific industrial corridors to provide targeted infrastructure and incentives for key industries.
• Public-Private Partnership (PPP) Projects:
  • Encouraging PPP projects, especially to boost Micro, Small, and Medium Enterprises (MSMEs).
• New Industrial Development Policy:
  • Introducing new policies to support industrial development and attract foreign investments.

These initiatives are part of the state’s broader strategy to transform Uttar Pradesh into a leading investment destination in India and to enable new growth trajectories for shaping the vision of New India.

What sectors are specifically targeted for investment under these policies?

The Government of Uttar Pradesh has identified several sectors for targeted investment under its policies to drive economic growth and development. These sectors include:

• Manufacturing: Emphasis on the development of manufacturing hubs, especially in areas like electronics, automotive, and textiles.
• Infrastructure: Investment in infrastructure projects, including roads, airports, and urban development.
• Agriculture and Food Processing: Encouraging investments in modernizing agriculture and developing food processing industries.
• Information Technology and Startups: Fostering a conducive environment for IT companies and startups with supportive policies and infrastructure.
• Tourism: Developing tourism circuits and promoting Uttar Pradesh as a cultural and heritage destination.
• Renewable Energy: Promoting the use of renewable energy sources and investing in related infrastructure.
• Defence and Aerospace: Building on the Defence Industrial Corridor to attract investments in Defence manufacturing and aerospace.
• Healthcare: Strengthening the healthcare sector with investments in medical equipment manufacturing and healthcare services.
• Education: Enhancing educational infrastructure and services to improve the quality of education and skill development.

These targeted sectors are part of the state’s broader strategy to create a robust economic ecosystem that can attract both domestic and international investors.