CM Adityanath invites Japanese firms to invest in Uttar Pradesh

Over the past nine years, the state's economy and per capita income have nearly tripled, Yogi said.

Lucknow: Chief Minister Yogi Adityanath on Wednesday invited Japanese entrepreneurs to invest in Uttar Pradesh, asserting that the state offers "scale, skill, stability and speed", an official statement said.

Addressing an investment roadshow in Tokyo, Adityanath assured the Japanese companies that they would receive special benefits in the proposed Japan Industrial City near the upcoming Noida International Airport.

"Uttar Pradesh, with a population of 25 crore, is India's largest consumer market. The larger the population, the greater the challenges and the greater the opportunities," the statement quoted the CM as saying.

Over the past nine years, the state's economy and per capita income have nearly tripled, he said.

Describing Uttar Pradesh as the most preferred investment destination in India due to its secure environment, strong infrastructure, vast market potential and young workforce, Adityanath said, "Investment in Uttar Pradesh is secure because scale, skill, stability and speed are all available here." He proposed a global partnership with Japan in sectors such as data centres, semiconductors and green energy, and invited investments in tourism and hospitality as well.

He expressed confidence that India-Japan industrial cooperation will reach new heights through Uttar Pradesh in the coming years.

Adityanath noted that a state once referred to as "BIMARU" has now emerged as a growth engine of India's economy. Despite having only 11 per cent of the country's agricultural land, Uttar Pradesh contributes nearly 21 per cent to the nation's food grains' production, creating vast opportunities in food processing, packaging and agri-logistics, he said.

The state has abundant freshwater resources that can support not only agriculture but also emerging sectors such as green hydrogen. With 56 per cent of its population young, Uttar Pradesh offers a large pool of skilled human resources to industries, he added.

Highlighting infrastructure growth, Adityanath said Uttar Pradesh has developed an extensive expressway network, the country's largest rail network and serves as the junction of the Eastern and Western Dedicated Freight Corridors.

As many as 27 industrial clusters are being developed along expressways, he said, inviting Japanese companies to participate in these projects.

The statement said 16 airports are operational in the state, including four international airports, and the Noida International Airport will soon commence operations.

A Japan Industrial City is being developed in the YEIDA region near the airport, with over 500 acres exclusively for Japanese investors to enable cluster-based development with superior connectivity, logistics and export facilities, it said.

The chief minister said 55 per cent of India's mobile manufacturing and nearly 60 per cent of electronic component production takes place in Uttar Pradesh.

The state has a land bank of 75,000 acres and a new industrial city is being developed over 56,000 acres in the Bundelkhand region near Jhansi to accelerate regional industrialisation, he said.

Referring to the 2023 Global Investors Summit, Adityanath said the state had received investment proposals worth Rs 40 lakh crore, of which projects worth about Rs 15 lakh crore have been grounded and Rs 7 lakh crore worth of investments are under process.

Uttar Pradesh has around 96 lakh MSME units providing employment to more than 3 crore people. New units are exempted from several types of no objection certificates (NOCs) for 1,000 days to facilitate ease of establishment, he said.

The road show was attended by Uttar Pradesh Finance Minister Suresh Kumar Khanna, Industrial Development Minister Nand Gopal Gupta Nandi, India's Ambassador to Japan Sibi George and representatives of Japan's industrial community, according to the statement.