UP ranked 2nd spot in GSDP List: Overtook Tamil Nadu, Karnataka and Gujarat within one year
Data from the state finance department has indicated that UP's GSDP in 2020-2021 crossed USD 268 billion mark in the midst of a receding economy.
From the beginning of UP CM, Yogi Adityanath’s tenure, his focus has been on reforms in both agriculture as well as labour markets in the state paving way for more industrial investments into the most populous state of India.
Results of the efforts of Yogi Adityanath are out and Uttar Pradesh has registered the second-highest Gross State Domestic Product (GSDP) in India at Rs 19.48 lakh crore.
MoUs of Rs 4.28 lakh crore inked during the investors’ summit in February 2018, nearly Rs 3 lakh crore have started at the ground level. State exports have also increased to 32 per cent in the last two years.In the process, the state has surpassed Gujarat, Karnataka, and Tamil Nadu. The achievement has come to UP, reflecting economic revival, amid the Covid-driven economic slowdown.
Reforms have helped to attract investments into Uttar Pradesh, thereby creating massive number of Jobs in the state.
To name a few:
In 2018, Samsung inaugurated its “world’s largest mobile factory” in UP as part of its $715 million India investment plan.
On the 4th of August 2020, Kodak TV India announced an investment of more than ₹500 crores over the next three years on a TV manufacturing plant in Hapur, Uttar Pradesh.Microsoft has agreed to set up its next campus of 4,000 employees in Greater Noida thereby giving a major push into making Uttar Pradesh as next big Tech Hub.
Food and beverages giant Pepsico has announced to invest ₹500 crore to set up a unit to make its popular Lay’s and Doritos chips, employing more than 1,500 people.
Most recently, Swedish firm IKEA has announced to invest Rs 5,000 crore in Uttar Pradesh and will be opening about a dozen stores across the state. This is expected to directly and indirectly generate employment for at least 50,000 people.
These announcements are just the tip of iceberg in what may just turn out to be an avalanche of investments and jobs.
Uttar Pradesh had also recorded a jump of 10 positions to at number 2 in ease of doing business’s annual ranking.
While Rana Ayyub and her likes address Yogi Adityanath as a militant Hindu monk, under his watch, UP is relentlessly wooing businesses, projects and investors.
