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Press Release

UP to soon become the second-largest economy among all states: Yogi Adityanath at FICCI’s National Executive Committee Meeting

Aug 29, 2023

Chief Minister Yogi Adityanath appreciates FICCI for hosting its NECM in Lucknow after a gap of 38 years.

Development of Uttar Pradesh under the leadership of Shri Yogi Adityanath serves as a paradigm for other states: Mr Subhrakant Panda, President, FICCI

Lucknow, 29 August 2023 — Addressing the National Executive Committee Meeting (NECM) of FICCI in Lucknow today, Chief Minister of Uttar Pradesh, Shri Yogi Adityanath, stated that the state is on a trajectory to become India's second-largest economy among all states. The Chief Minister further emphasised the UP’s ambitious journey towards industrialisation.

Uttar Pradesh is not just progressing; it is advancing rapidly to become a revenue-surplus state, noted Shri Yogi Adityanath. He emphasised that the once-stigmatized BIMARU image of UP is changing as the state transitions into an economic powerhouse.

Shri Adityanath highlighted that Uttar Pradesh’s substantial working-age population, comprising 56% of its total demographic, fuels its economic aspirations. Key initiatives like the 'One District One Product' scheme, along with robust infrastructure development and the provision of essential amenities to residents, are turning UP into a burgeoning industrial hub.

Recalling his initial days in office, Shri Adityanath remarked that the first business meeting he attended as the Chief Minister in 2017 was convened by FICCI. He expressed gratitude towards the FICCI for hosting its NECM in Uttar Pradesh after a gap of 38 years, signalling the state's increasingly business-friendly climate.

FICCI President, Mr Subhrakant Panda, endorsed the Chief Minister's vision, noting, "The development of Uttar Pradesh under the leadership of Shri Yogi Adityanath serves as a paradigm for other states. The unique demographic profile of UP, coupled with forward-looking initiatives such as One District One Product, has set the state on an accelerated path to becoming a premier industrial location."

Delivering the Vote of Thanks, Dr Anish Shah, Senior Vice President of FICCI, said that Shri Yogi Adityanath’s leadership has created an amazing transformation in the state. “Your leadership has created an amazing transformation not just in law and order, infrastructure, in ease of doing business, but also in providing hope and inspiration to everyone,” he added.

Adding to the discourse, Mr Shailesh Pathak, Secretary General of FICCI, said, "Uttar Pradesh is embarking on an audacious plan to achieve a one trillion economy. The transformation from 'Uttar Pradesh' to 'Uttam Pradesh' and eventually to 'Sarvottam Pradesh' will undoubtedly be unceasing."

Mr Manoj Gupta, Chair, FICCI UP State Council, underlined the economic strength of Uttar Pradesh as reflected in the longest network of expressways, the largest number of Micro, Small and Medium Enterprises, the highest proportion of the working age population and the largest consumption centre of the nation. “Uttar Pradesh saw an investment flow of 16 per cent FY23, the highest among all states,” he added.

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