Uttar Pradesh is a leading Indian state in terms of tourism, with 109.71 million domestic tourists and 33,737 foreign tourists in 2021.
Uttar Pradesh is the most populous state in India with a population of nearly 200 million people.
At current prices, the gross state domestic product (GSDP) of Uttar Pradesh is estimated to be Rs. 20.48 trillion (US$ 248.66 billion) in 2022-23. The GSDP increased at a CAGR of 8.76% from 2015-16 to 2022-23.
Uttar Pradesh is recognised as a major milk-producing state in India. Milk production in the state stood at 30.5 million tonnes in 2018-19, accounting for 16.50% of the total milk production of the country. Per capita milk availability in the state stood at 359 grams per day in 2018-19.
As of August 2022, Uttar Pradesh had an installed power generation capacity of 29,710.43 MW. Of this, 6,902.20 MW was from state utilities, 14,061.50 MW (private utilities) and 8,746.73 MW (central utilities). Energy requirement in the state was 107,109 million units (MU) between 2019-20.
In August 2022, Uttar Pradesh revealed the draft of its Solar Energy Policy-2022, which indicates that the state has a goal of producing 16,000 MW of renewable energy by 2026–27.
The state’s resources, policy incentives, infrastructure and climate are best suited for investments in diverse sectors such as Information Technology (IT), agro-based and food processing, light engineering goods, sports goods, textiles, leather-based, tourism, and biotechnology.
The state has a well-developed social, physical, and industrial infrastructure. It also has good connectivity through 48 national highways, six airports and rail links to all major cities. The state has witnessed a high rate of infrastructure growth in the recent past. There has been a considerable rise in the number of industrial clusters/hubs and Public-Private-Partnership (PPP) projects in the infrastructure domain.
Merchandise exports from Uttar Pradesh reached US$ 21.03 billion in FY22 and US$ 9.53 billion in FY23*. The US is the major export market for Uttar Pradesh, accounting for about 20.73% of the export value in FY22.
Uttar Pradesh is a favoured tourist destination in India with Taj Mahal, one of the eight Wonders of the World, located in Agra. In 2019, domestic tourist arrival in the state reached 535.8 million. Foreign tourist arrival crossed over 4.74 million.
Between October 2019-June 2022, FDI inflows in Uttar Pradesh stood at US$ 995.40 million. The state ranked 11th in India in terms of FDI inflows.
As of July 2022, Uttar Pradesh had 23 notified, 14 operational SEZs and 24 formally approved SEZs.
Some of the major initiatives taken by the Government to promote Uttar Pradesh as an investment destination are: