Under CM Yogi Adityanath leadership, Uttar Pradesh (UP) has transformed into an investment hotspot. In addition to seeing a GDP increase of 9.5% per year, Uttar Pradesh can now be compared to many other worldwide business locations because of policy reform, first-rate infrastructure, and improved ease of doing business ratings that have made UP the second-best place to conduct business in India.
Pitch to Japanese Investors
CM Yogi Adityanath highlighted the growth of Uttar Pradesh at a prestigious business conference for Japan and India. While focusing on specific sectors that would benefit from the expertise of Japanese companies, he mentioned the electronics industry (especially semiconductor parks in Noida), renewable energy (including solar projects that will create 22 GW), defence corridors and logistics. The UP Global Investors Summit 2023 has created a commitment of ₹40 lakh crores.
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Key Sectors for Collaboration
- Manufacturing/Electronics: Jewar Airport/expressways attract firms such as Foxconn.
- Renewables/Electric Vehicles: Green energy projects have synergy with Japan’s technological strengths.
- Agri-Tech/Pharmaceuticals: Biotech hubs in Lucknow provide potential for collaborative innovation.
- IT/Startups: There are over 10,000 companies located in Noida’s Technology Parks, looking to develop AI partnerships.
Yogi offered to provide single window clearance, land bank, and incentives such as zero stamp duty. “UP will be Japan’s entry point into India,” he shared, foretelling that millions of jobs will be created.
Indo-Japanese Relations Progress Through New Relationships
Japan already has a $2 billion footprint in Uttar Pradesh, and this outreach will help grow that through output from companies like Suzuki, Yamaha, etc. With global supply chains changing or being disrupted due to the pandemic, UP is reaching out to new industries as a safe, reliable supplier of skilled labor.
