UP govt to boost manufacturing sector; CM Yogi issues directions to focus on seven industries

Lucknow (Uttar Pradesh) [India], November 7 (ANI): To achieve the ambitious goal of making Uttar Pradesh a USD 1 trillion economy, the UP government is focusing on the manufacturing industry. During a meeting with Industrial Development Department, Yogi issued directions to focus on seven industries including leather, textile, toys and games, defence, electronics, machinery and electric vehicles to give a boost to the manufacturing sector.
According to a press release issued by Chief Minister's Office (CMO), "The Government is making every possible effort to increase the manufacturing sector's contribution to the state's GSDP by more than three times in order to strengthen the state's economy in the next five years."
The manufacturing sector currently contributes 14 per cent of the total, and efforts are underway to increase it to 45 per cent. In this regard, Chief Minister Yogi Adityanath has given necessary directions to the officers of the Industrial Development Department during a high-level meeting. To give impetus to the manufacturing sector, the Chief Minister issued directions to focus on seven industries including leather, textile, toys and games, defence, electronics, machinery and electric vehicles.
It is worth mentioning here that Uttar Pradesh is the nation's leading producer of toys, leather and textiles and a big exporter of these products as well. During the meeting, it was revealed that the goal of GSDP (Gross State Domestic Products) exports worth USD 246 billion may be reached if the state contributes 5 per cent of the world market's exports of leather, textile, toys & games, defence, and electronic products by the year 2027.
Additionally, the target of USD 14 billion worth of GSDP exports 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 around Rs 18,63,221 crore.
China exports up to 29 per cent of the world's clothes, compared to India's 3 per cent. UP exports up to 23 per cent of the nation's total exports. Similarly, China exports up to 32 per cent of its leather globally, compared to India's 2 per cent whereas UP's contribution to leather exports from India is 43 per cent.
Besides, China exports 58 per cent of all toys and sporting products whereas India only exports 0.4 per cent while the contribution of UP alone is up to 32 per cent in this sector as well. Since, UP already has an infrastructure in these sectors, it will not take the state much to increase the production of these in the state.
In order to make Uttar Pradesh a one trillion dollar economy, the Yogi government will have to increase investment from 42 to 47 percent of the current GSDP. In this, the manufacturing sector will need to receive the greatest attention--up to 45 per cent of it.
At present, the manufacturing sector contributes 14 per cent to the growth of GSDP, which is more than Rs 2 lakh crore. It will have to be increased by 45 per cent i.e. more than Rs 31 lakh crore. For this, emphasis is being laid on setting up and expanding new industries in the state. (ANI)