Uttar Pradesh Soars to Glory: Claimed the coveted position of being India’s 2nd-largest Economy

In a resounding testament to its economic prowess, Uttar Pradesh has recently claimed the coveted position of being India’s second-largest economy, securing a formidable 9.2% share in the nation’s Gross Domestic Product (GDP). This groundbreaking revelation, as reported by the esteemed online platform soic.in, catapults the state ahead of stalwarts like Tamil Nadu, Gujarat, West Bengal, Karnataka, Rajasthan, Andhra Pradesh, and Madhya Pradesh.

The comprehensive report, unveiled on the widely recognized X, underscores Uttar Pradesh’s remarkable ascent, positioning it as a key player in India’s economic landscape. Surpassing previous rankings, the state’s GDP share now stands at an impressive 9.2%, trailing only behind Maharashtra, which commands a 15.7% share.

UP, thus has outpaced Tamil Nadu (9.1%), Gujarat (8.2%), and West Bengal (7.5%). States like Karnataka (6.2%), Rajasthan (5.5%), Andhra Pradesh (4.9%), and Madhya Pradesh (4.6 %) are also behind UP, says the report.

This remarkable achievement is not an isolated feat but rather a result of Uttar Pradesh’s strategic and concerted efforts in fostering a business-friendly environment. The state has clinched the enviable second spot in the ‘Ease of Doing Business’ rankings, a testament to its commitment to creating a conducive atmosphere for entrepreneurs and investors alike.

Chief Minister Yogi Adityanath’s visionary target of propelling Uttar Pradesh to the $1 trillion mark by 2027 is gaining tangible momentum. Bolstering this ambitious goal, the state has recently garnered attention for receiving investment proposals exceeding a staggering Rs 40 lakh crore during the Global Investors Summit 2023. These substantial investments are poised to generate over 1 crore employment opportunities, marking a significant milestone in Uttar Pradesh’s socio-economic landscape.

Chief Minister Yogi Adityanath Propels Uttar Pradesh to Unprecedented Progress

“Under the visionary leadership of Chief Minister Yogi Adityanath, Uttar Pradesh has undergone a remarkable transformation in the last seven years, achieving unprecedented milestones across various sectors,” stated a government spokesperson.

“In this period, Uttar Pradesh has witnessed a significant reduction in organized crime, marking it down to zero, while simultaneously experiencing substantial growth in the industrial sector. The state has catapulted from the 14th to the second position in the prestigious ‘Ease of Doing Business’ rankings, underscoring its commitment to fostering a business-friendly environment.”

Highlighting improvements in law and order, connectivity, and infrastructure, the spokesperson revealed that Uttar Pradesh has attracted investment proposals exceeding Rs 40 lakh crore during GIS 2023. These proposals are poised to materialize on the ground, promising the creation of over one crore employment opportunities. The state’s commitment to sustainable development is evident through its impressive export figures, with goods valued at nearly Rs 2 lakh crore making their way to international markets.

Furthermore, the banking sector in Uttar Pradesh has experienced a remarkable boost, with the loan-deposit ratio surging from 42-43% to an impressive 56%, and efforts are underway to elevate it to 60%. The state now stands as a revenue surplus entity, with a substantial 56% of its population gainfully employed.

The establishment of approximately 96 lakh MSMEs reflects the flourishing entrepreneurial spirit, with Chief Minister Yogi Adityanath propelling Uttar Pradesh from its historical BIMARU status to the forefront of India’s development race.