Uttar Pradesh under CM Yogi’s efficient governance bets big on manufacturing towards achieving trillion-dollar economy hallmark.
Significantly, the northern Indian state is among India’s top exporters and producers of leather goods, textiles and toys in the country.
Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship of India reveals that India is going to become large exporter of products now during the post-Covid times.
Realistically assessing Uttar Pradesh flourishes on the manufacturing sector for contributing for India to achieve the goal of becoming a trillion-dollar economy by the year 2027.
Currently the gross state domestic product (GSDP) of Uttar Pradesh is estimated at two hundred and thirty billion whereas the manufacturing sector contribution is pegged at around fourteen per cent. And the government looks to boost it by threefold making it rise to forty-five per cent.
For achieving this target, the government is making all efforts with laying greater emphasis on new set ups and expansion for new industries.
There are seven thrust manufacturing verticals which are identified by Uttar Pradesh including textile, leather, games and toys, electronics, defence, machinery along with electric vehicles. Lately CM Yogi sketched a broader course of action in this regard presiding over a high-level meeting exchanging expert views with the top ladder of the industrial development department.
As per the UP chief Minister’s vision, the state needs its annual growth rate to rise by around thirty to thirty five per cent to destine the trillion-dollar milestone by the year 2027.
Apart from this, the speculation of the government finds that the quantum of fresh investment in the national economy requires to be ramped up from the present level of forty two percent to forty seven percent of the GSDP also.
Among India’s top exporters and producers of leather goods, textiles and toys in India, Uttar Pradesh has its projections which reveal by 2027, state’s exports could touch $246 billion in case the state captures only five percent of the global export market of textile, leather goods, games & toys, electronic and defense products.
