Investment in UP

What recent initiatives has the Government of Uttar Pradesh undertaken to attract investment in the State?

Approach: Begin with an introduction highlighting the objective of investment support measures undertaken by the UP Government. In the body, enumerate the key initiatives. Conclude by assessing the collective impact of these initiatives on the state’s economic growth and prosperity.

Uttar Pradesh has implemented strategic initiatives to position itself as a premier investment hub. By focusing on policy reforms and infrastructure development it has sought to create a favorable business ecosystem that supports its vision of achieving a trillion-dollar economy. Following are some of the key initiatives:

1. New FDI Policy (January 2025) – Designed to boost foreign industries in UP, offering up to 80% subsidy on land to foreign firms investing in the state.
2. Aerospace and Defence Unit and Employment Promotion Policy 2024: with an ambitious target of attracting ₹50,000 crore in investments over five years and generating direct employment for 1 lakh people.
3. The UP Global Investors Summit: The government held major investment summits with follow-up roadshows in major cities globally to attract investment. During the recent summit, investment proposals worth more than Rs.40 lakh crore were agreed upon.
4. UP Industrial Investment and Employment Promotion Policy 2022: Offers incentives including capital subsidies, stamp duty exemptions, and electricity duty reimbursements.
5. UP Defense Industrial Corridor: A major project spanning six nodes to boost defense manufacturing.
6. One District One Product (ODOP) scheme : Promotes traditional industries and crafts specific to each district.
7. International Film City project near Noida to attract investment in the entertainment industry.
8. Development of expressways ( Purvanchal Expressway, Bundelkhand Expressway), industrial parks and special economic zones across the state (e.g., Dadri-Noida-Ghaziabad Investment Region)..
9. Establishment of dedicated investment facilitation cells (e.g., Invest UP) and a single-window clearance system (Nivesh Mitra) to streamline approvals.

These multifaceted initiatives are likely to foster sustainable industrial growth, employment generation, and economic prosperity in Uttar Pradesh while strategically enhancing its competitiveness in India’s federal economic landscape.