Uttar Pradesh has become the second-largest economy, in terms of GDP share to the country’s economy, according to a recent report by the investment and stock market tracking platform ‘soic.in.’ According to the report, the share of Uttar Pradesh has now reached 9.2 per cent, outplacing Tamil Nadu (9.1 per cent share)
Leading contributing state to India’s GDP
Other top-contributing states to India’s GDP
Following Maharashtra, UP, and Tamil Nadu, Gujarat is placed at the fourth spot with a share of 8.2 per cent, followed by West Bengal (7.5 per cent). States such as Karnataka, Rajasthan, Andhra Pradesh and Madhya Pradesh follow the list.
Infrastructural Development of Uttar Pradesh
According to Invest UP, the investment promotion platform of Uttar Pradesh, the state is home to five domestic and three international airports. Noida International Airport, located in an entirely new town YEIDA (Yamuna Expressway Industrial Development Authority), or Yamuna City, is planned to be the largest airport in Asia. This will reduce the air traffic at Indira Gandhi International Airport in Delhi, and add to the state’s infrastructure.
The state has Yamuna and Agra Expressway, connecting the state capital Lucknow to Delhi. Purvanchal (343 km) and Bundelkhand Expressway will boost further connectivity of farther-located cities to the state capital. The proposed Ganga Expressway will connect key export hubs of the state and reduce the travel time by road, as well as freight movement. Other than expressways, the state has the largest road network of 4 lakh kilometres and more than 11,000 km of highway network.
The state has the largest railway network, spanning almost 9,000 km. It proudly boasts a 100 per cent electrified railway network.
The state has 2 operational metro rail projects including Lucknow and Noida, and further projects under construction in Kanpur, Agra, Meerut, Gorakhpur, Bareilly, Prayagraj and Varanasi. The advent of the first-of-its-kind Rapid Rail Transit System between Delhi and Meerut will facilitate quicker movement of manpower.
Reforms under Yogi Adityanath Government
Uttar Pradesh has gone through structural reforms from a “BIMARU state” to an investment-friendly state. The state jumped from 14th position to 2nd position in the “Ease of Doing Business rankings.” Due to the improved law and order situation, Uttar Pradesh received investment proposals worth Rs 40 lakh crore through Global Investors Summit 2023. The state has registered exports worth Rs 2 lakh crore.
Uttar Pradesh is also a revenue-surplus state with 56 per cent of the population employed across different sectors. The state is home to 96 lakh formal and informal MSMEs. Chief Minister Yogi Adityanath manifests Uttar Pradesh to create a $1 trillion economy. Uttar Pradesh is the most populous sub-division in the world, with a population of more than 24 crores.