Lucknow, Dec 19 (KNN) Uttar Pradesh Minister for Finance Suresh Khanna on Monday said that improved law and order, speedy redressal and conducive policies have made Uttar Pradesh the most preferred investment destination in India.

Interacting with industry leaders during a panel discussion on enhancing industrial investment & policy effectiveness, the minister said that due to the proactiveness of the state government under the leadership of Chief Minister Yogi Adityanath, the state has been able to clinch the second position from Tamil Nadu and its contribution to the national GDP stands at 9.2 per cent, second only to Maharashtra, which contributes 15.7 per cent to the national GDP.

Calling upon entrepreneurs to invest in Uttar Pradesh, the finance minister said the state government was developing the Bundelkhand Industrial Development Authority (BIDA) on the lines of Noida, which will spur industrialisation in the area and emphasised the fact that the state is already a leading producer of many products, including foodgrains, sugarcane and milk.

Speaking about the increasing demand for electricity in the state, he said while the demand was around 13,000-14,000 MW in 2017, it has increased to above 30,000 MW today, which is an indicator of massive industrialisation.

Calling upon industrialists to invest in the renewable energy sector, the minister said while the price of solar energy has reduced over time, which is good news for the industries, there was a need to further bring it down.

Speaking at the event, UP Minister for Industrial Development, Export & Investment Promotion and NRI Nand Gopal Gupta ‘Nandi’ said Chief Minister Yogi Adityanath had changed the face as well as the fate of UP and the state is now known for its mega events such as the Global Investors Summit and MotoGP, which have pitchforked the state on the international map.

“This state has abundant natural resources, manpower and world-class infrastructure for any industry to prosper and it is now addressed as the Express Pradesh, as it is home to almost 40 per cent of the total expressways in India,” he said.

During the event, the Chief Executive Officer, Invest UP, Abhishek Prakash made a detailed presentation on the availability of various industrial parks and land banks as well as Nivesh Mitra, and Nivesh Sarathi portals and online incentive management systems for investors.

Talking about the unprecedented progress in ease of doing business, he said that Uttar Pradesh has become a preferred destination for investors due to a large network of expressways, domestic and international airports, huge land banks and investment-friendly policies.

Secretary MSME Pranjal Yadav, ACEO Yamuna Expressway Industrial Development Authority, Vipin Kumar Jain and Director, UP Tourism, Prakhar Mishra also addressed the industrialists and spoke about the investment opportunities in the state and the initiatives carried out by their departments.

(KNN Bureau)