How is UP government planning for a $6 trillion economy by 2047?

Lucknow, Sep 14 (NationPress) The government of Uttar Pradesh is actively formulating a robust strategy to achieve its ambitious goal of "Viksit Uttar Pradesh – Samarth Uttar Pradesh @2047".

The administration under Chief Minister Yogi Adityanath aspires to transform Uttar Pradesh into a $1 trillion economy by 2030, ultimately aiming for a remarkable $6 trillion economy by 2047.

A significant emphasis is being placed on innovative sectors such as artificial intelligence (AI), biotechnology, green energy, and agri-tech to meet this goal.

A detailed plan is being crafted across 12 crucial sectors, including agriculture, information technology, emerging technologies, health, education, industry, social welfare, rural and urban development, tourism, hospitality, livestock, sustainable development, and governance.

This framework is centered around three key missions: 'Samagra Vikas' (comprehensive development), 'Aarthik Netrutva' (economic leadership), and 'Sanskritik Punarjagran' (cultural revival), along with three themes of Arth Shakti, Srijan Shakti, and Jeevan Shakti.

Historically, the state has been categorized as one of the “Bimaru” states due to issues like weak law enforcement, inadequate infrastructure, and a lack of investor confidence.

However, in recent years, Uttar Pradesh has made significant strides in enhancing its security framework through police modernization, establishing command-and-control centers, and implementing Operation Conviction, which has notably increased conviction rates.

This renewed focus on security has reinstated investor confidence, resulting in record investments exceeding Rs 45 lakh crore during the 2023 UP Global Investors' Summit, of which Rs 15 lakh crore has already been allocated.

Furthermore, the state government is prioritizing job creation through the establishment of Global Capability Centres (GCCs) and IT hubs.

Initiatives in renewable energy, smart city infrastructure, and supply chain development are poised to generate millions of medium- and low-skilled employment opportunities.

In rural areas, agri-tech and cold chain initiatives are anticipated to enhance local job prospects and mitigate urban migration.

Programs for skills development and public-private partnerships will make this employment strategy practical and achievable.

Chief Minister Yogi Adityanath has set an ambitious target of achieving a $6 trillion economy by 2047.

To realize this vision, Uttar Pradesh must sustain a consistent annual growth rate of 16 percent.

The Uttar Pradesh government has also rolled out a GCC policy to transform cities like Noida and Lucknow into hubs for Fortune 500 companies.

The state is now focusing on future-oriented industries such as AI, biotechnology, renewable energy, agri-tech, quantum technology, cybersecurity, and the metaverse as fundamental pillars of its economy.

Experts believe that high-value services, green manufacturing, and reforms in agri-tech will pave the way for Uttar Pradesh to reach its $6 trillion economy goal.

GCCs and IT-AI hubs are set to boost service exports, while renewable and e-mobility clusters are expected to enhance manufacturing and export capabilities, and agriculture-based processing will fortify the rural economy.

Sectors like biotechnology and medical R&D are anticipated to generate specialized employment and export prospects.