Last updated on Nov, 17 2020
Uttar Pradesh is the most populous state in India with a population of nearly 200 million people.
Gross State Domestic Product (GSDP) of Uttar Pradesh is expected to grow at a CAGR of around 6.78% between 2016-17 and 2020-21 to reach Rs. 17.91 trillion (US$ 254.12 billion). Net State Domestic Product (NSDP) grew at a CAGR of around 12.26% between 2015-16 and 2019-20 to reach Rs. 16.03 trillion (US$ 227.42 billion).
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 July 2020, Uttar Pradesh had an installed power generation capacity of 26,276.25 megawatt (MW) (comprising 6,242 MW under state utilities, 12,928 MW under private utilities, and 7105.96 MW under central utilities. Energy requirement in the state was 107,109 million units (MU) between 2019-20.
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 export from Uttar Pradesh reached US$ 16.99 billion in 2019-20 and US$ 1.12 billion in April-July 2020.
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.
The state attracted Foreign Direct Investment (FDI) equity inflow worth US$ 942 million between April 2000 and March 2020 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT). In 2019, 147 investment intentions worth Rs. 16,799 crore (US$ 2.40 billion) were filed in Uttar Pradesh.
Some of the major initiatives taken by the Government to promote Uttar Pradesh as an investment destination are:
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