A Uttar Pradesh delegation at the World Economic Forum in Davos, led by minister Suresh Kumar Khanna, showcases the state's transformation into a secure global investment hub, shedding its 'backward' image under CM Yogi Adityanath's leadership.
A high-level delegation from Uttar Pradesh, led by State minister Finance & Parliamentary Affairs, Suresh Kumar Khanna, is all set to showcase at the World Economic Forum (WEF), the State's radical transformation into a secure global investment hub. The delegation arrived in Davos, Switzerland on Monday as the annual summit of the WEF kick-starts under the theme "A Spirit of Dialogue."
UP's Transformation into a Global Investment Hub
Uttar Pradesh has successfully shed its former image to emerge as a global destination for industrial growth and strategic partnerships, the state Finance Minister Khanna said. In an interview to ANI, Khanna spoke on the state's rapid transformation in the last eight to ten years under Chief Minister Yogi Adityanath's leadership and how we have witnessed a definitive shift from a "backward" perception to a progressive, investment-ready state. "The perception of UP has fundamentally changed," Khanna stated, noting that the state is now a safe and secure destination for global capital. He emphasised that the satisfaction of investors who have entered the market over the last few years serves as the strongest testament to this new reality.
Aggressive Policies Driving Growth
To support this growth, the State has rolled out aggressive policies across 34 diverse sectors, bolstered by a massive overhaul of physical and digital infrastructure.
Key Initiatives and Diversification
The Minister pointed to several flagship initiatives that give Uttar Pradesh an edge over other states. Central to this strategy is the Defence Corridor stretching from Kanpur to Jhansi. In a landmark public-private partnership (PPP) model, Lucknow is now home to the manufacturing of the BrahMos missile. The State's industrial portfolio is further diversified by a booming food processing sector, the establishment of massive data centres by players like Hiranandani, and highly attractive incentives for the semiconductor industry.
Skyrocketing Exports and Investor Confidence
Uttar Pradesh's international engagement is also aligning closely with national goals such as 'Make in India' and 'Digital India.' Khanna revealed that UP's exports have skyrocketed from Rs 84,000 crore to Rs 1,86,000 crore--a staggering growth of nearly 25 per cent. This surge is driven by 96 lakh MSMEs producing everything from traditional handicrafts to essential food grains. To maintain this momentum, the government is leveraging a "zero tolerance" policy toward crime and corruption, coupled with fiscal incentives including electricity duty exemptions, stamp duty waivers, and GST reimbursements.
Introducing BUILDA: The Next Frontier
Highlighting the State's latest expansion, the Minister introduced the Bundelkhand Industrial Development Authority (BUILDA), which boasts a land bank of 50,000 acres. With a focus on affordable land, a vast pool of both skilled and unskilled manpower, and an efficient online incentive system that processed over Rs 4,000 crore last year, Uttar Pradesh is positioning itself as the cornerstone of India's economic future.
WEF Summit's Global Context
This year's WEF summit is shaped by ongoing geopolitical realignments, slowing global growth, trade frictions and accelerating technological change. Across sessions on geopolitics, growth and global governance, participants will explore how cooperation can be renewed amid contested norms, strained alliances and eroding trust.
The Annual Meeting of the WEF at Davos is expected to see record levels of government participation, with around 400 top political leaders, including nearly 65 heads of state and government and six leaders from the G7, taking part. (ANI)
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