Uttar Pradesh Chief Minister Yogi Adityanath revealed that the state has attracted a staggering Rs 50 trillion in investment proposals since 2017, positioning it firmly on the path to becoming a $1 trillion economy by 2029-30, a testament to his government's focus on rule of law and industrial growth.
Key Points
- Uttar Pradesh has received investment proposals totalling approximately Rs 50 trillion over the past nine years, driven by the government's focus on establishing the rule of law.
- The state is on track to achieve a $1 trillion economy by the fiscal year 2029-30, marking a significant economic turnaround.
- Key reforms included ending policy paralysis, shaping sectoral policies for industrial revival, curbing arbitrariness, and supporting MSMEs.
- UP now accounts for 55 per cent of India's electronic component manufacturing and is among the top three economies in the country.
- CII President Rajiv Memani noted that UP contributes 9 per cent to India's GDP, is the second-largest economy, and maintains a contained fiscal deficit without new taxes.
Uttar Pradesh Chief Minister Yogi Adityanath on Monday said the bedrock of the state’s industrial and economic revival in the past nine years was his government’s success in ensuring that rule of law is enforced.
He said the state has received investment proposals of Rs 50 trillion in the past nine years, and that it is on course to becoming a $1 trillion economy by 2029-30 (FY30).
Adityanath was addressing the Confederation of Indian Industry (CII)’s Annual Business Summit 2026.
It was his maiden appearance as the UP CM at the event. Adityanath invited the CII and business leaders present among the gathering to invest in UP.
The CII leadership thanked him for finding time from his busy schedule of recent weeks, including his election campaigning in West Bengal, and also since his schedule is set to get more hectic with Assembly polls in UP slated for next February-March.
Transforming Uttar Pradesh's Economic Landscape
On UP’s turnaround since 2017, Adityanath said that when he took over as the state’s CM, there were on average more than 300 incidents of rioting every year, curfews and extortion of “goonda tax”, farmer suicides and absence of safety and security of women.
Adityanath said his top priorities were to establish rule of law, end policy paralysis of the state’s bureaucracy, shape sectoral policies for industrial revival and to curb arbitrariness in decision making and reduce farmers’ suicides by encouraging agricultural growth.
The UP CM said his government introduce policies to shore up the state’s manufacturing strength, supported Micro, Small and Medium Enterprises (MSMEs), created a land bank and adopted zero tolerance towards criminals. Adityanath said several entrepreneurs in Bengal evinced interest in investing in UP when he was campaigning there.
“They told me that only 7,000 industrial units are left in Bengal.
"I said in my nine years 18,000 big industries and 9.6 million MSMEs have set up units in UP,” the UP CM said, and reminisced about the first global investor summit that his government hosted.
Infrastructure Development and Economic Growth
Adityanath detailed the expressways, and airports that have come up in the state, and the improvement in its manufacturing capacity with UP accounting for 55 per cent of the country’s electronic component manufacturing.
UP, he said, is now one of country’s top three economies, its GSDP and per capita income has increased and is on its way to become a $1 trillion economy by 2029-30.
Adityanath said MSMEs have created job opportunities for 30 million youth, agricultural growth has been significant, as has been the growth in its tourism sector.
In his comments, CII President Rajiv Memani said UP accounts for 9 per cent of India’s GDP.
He said it is the second largest economy in the country, and recorded a revenue surplus of Rs 37,000 crore in FY25, which is projected to increase to Rs 80,000 crore in FY26.
Memani said UP has achieved the turnaround by keeping its fiscal deficit contained at 2.9 per cent and without imposing any new taxes.
“We received Rs 4.67 trillion worth of investment proposals in our first investor summit, with 60 per cent of these holding groundbreaking ceremonies.
"We have received Rs 50 trillion worth of investment proposals until now and have created a 75,000 acre land bank, improved road, rail and air connectivity,” he said.
