Question.
What recent initiatives has the government of Uttar Pradesh undertaken to attract investment in the state?
(UPPSC Mains General Studies-VI/GS-6 2023 Solutions)
Answer.
In February 2023, the Uttar Pradesh Global Investor Summit was held in Lucknow to attract investment in the different sectors.
It aims to attract investment in the fields of Information Technology, Data Centers, IT parks, the Defense and Aerospace sector, Electric Vehicles, tourism, textile, infrastructure, logistics, Warehousing, etc.
The following are major initiatives taken by the government of Uttar Pradesh to attract investment:
- Improvement in " Ease of Doing Business".
- Improve Infrastructure availability
- Improving law and order situation
- Sector Specific Industrial Corridor
- PPP projects to boost MSMEs ( Micro Small Medium Enterprises)
- New Industrial Development Policy
Ease of Doing Business:
As per the NITI Ayog report, Uttar Pradesh has consistently secured the "Top Achiever" status of the "Ease of doing Business". The state has worked on improving law and order problems, power supply, and reducing red-tapism.
The Uttar Pradesh government has developed the " Nivesh Sarathi" portal, one-stop investor support.
Sector Specific Industrial Corridor:
Uttar Pradesh has launched the sector-specific corridor like:
- Medical Device Park is being developed along with the Yamuna Expressway.
- Defense corridors are being developed in six districts: Aligarh, Agra, Jhansi, Chitrakoot, Kanpur, and Lucknow.
- Bundelkhand Industrial Development Authority (BIDA) is being developed.
- Green Energy Park is being established in Bundelkhand.
- Mega Food Park in Bareilly and Garment Park in Gorakhpur are being developed.
Improve Infrastructure availability:
The following are the major initiatives taken in Uttar Pradesh to boost the infrastructure availability-
- Uttar Pradesh has India's largest railway network.
- First National Waterways connects Prayagraj to Haldia and it is operational.
- Yamuna expressways: It connects Greater Noida to Agra.
- Bundelkhand expressways: It connects Chitrakoot to Etawah.
- Agra- Lucknow Expressways: It connects Agra to Lucknow.
- Ganga Expressways : It connects Meerut to Prayagraj.
- Puruvanchal Expressways: It connects Lucknow to Ghazipur.
- Gorakhpur Link Expressway: It connects Azamgarh to Gorakhpur.
- Western Dedicated Freight Corridor (WDFC) and Eastern Dedicated Freight Corridor ( EDFC) also pass through Uttar Pradesh, which facilitates export.
Public Private Partnership ( PPP) projects to boost MSMEs:
One District One Program ( ODOP) has been launched in Uttar Pradesh to boost MSMEs.
Vishwakarma Shram Samman Yojna is a scheme that provides training, toolkits, and working capital to traditional trade workers.
Mukhya Mantri Yuva Rojgar Vikas Abhiyan is an initiative of Uttar Pradesh to provide 5 lakh interest-free loans for youth.
New Industrial Development Policy:
The government aimed to become a 1 trillion dollar economy by 2027 by the New Industrial Development Policy.
Under the new Industrial Policy, the Government of Uttar Pradesh is promoting new sectors like Semiconductors and IT Data centers.
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