Lucknow, 7 November (HS): The Yogi government will focus on the manufacturing sector to make Uttar Pradesh a $1trillion dollar economy in the next five years and maximum focus will be on seven industries namely leather, textile, toys and games, defence, electronics, machinery and electric vehicles.
With an intention to boost the economy, the government is emphasizing on increasing the contribution of the manufacturing sector to the GSDP of the state by more than three times. At present, the contribution of the manufacturing sector is 14 percent, which has been started to take it to 45 percent.
Chief Minister Yogi Adityanath has given necessary directions to the officers of the Industrial Development Department in a high-level meeting in this regard.
In the meeting, it has been asked to focus on seven industries to give impetus to the manufacturing sector. In some of these industries, UP plays an important role in exports.
In a high-level meeting, Chief Minister asked the officers of the Industrial Development Department to focus on seven industries under the manufacturing sector, namely leather, textile, toys and games, defence, electronics, machinery and electric vehicles. The reason is also that out of these, Uttar Pradesh is the hub for the manufacture of leather, textile and toys, and in the entire country, UP has been exporting the maximum products manufactured in these industries. Hence, the goal can be achieved with less effort and cost, just increase the focus on it.
It was informed in the meeting that by the year 2027, if five percent of the exports of the global market in Leather, Textile, Toys & Games, Defense, Electronics are taken over, then the target of 246 billion exports in GSDP (Gross State Domestic Products) can be achieved. At the same time, the target of 14 billion exports in GSDP can be achieved with the right to export 10 percent of the global market in the electric vehicle industry. It may be known that at present the state’s GSDP is 4.2 percent, which is ?18,62,221 crore.
China exports up to 29 percent of the clothing globally, while India does only 3 percent. In this, UP alone exports up to 23 percent of the entire country. On the other hand, China exports up to 32 percent of leather globally, while India does only 2 percent. In this, the contribution of UP is 43 percent. Similarly, China exports 58 percent of the world’s toys and sporting goods, while India exports only 0.4 percent. In this too, the export of UP alone is up to 32 percent. In such a situation, UP can easily increase the export of these products, because UP already has the infrastructure to manufacture them, so that there will not be much effort in achieving the goal of $1 trillion economy and within five years.
To achieve the goal, the Yogi government will have to invest 42 to 47 percent of the current GSDP. In this, the maximum focus will be on the manufacturing sector up to 45 percent. At present, the manufacturing sector contributes 14 percent to the growth of GSDP, which is more than ?2 lakh crore. It will have to be increased by 45 percent i.e. more than ?31 lakh crore. For this, emphasis is being laid on setting up and expanding new industries in the state.
