The country's largest state Uttar Pradesh is on its way to becoming a trillion dollar economy. The state government has started work for this. Uttar Pradesh's Industrial Development, Export Promotion, NRI and Investment Promotion Minister Nand Gopal Gupta Nandi has said that the state government is working to achieve the target of 1,000 billion dollar economy by 2027 and international trade exhibitions will play an important role in this. He said this in a session organized by FIEO, the apex organization of exporters, on Friday on the third day of Uttar Pradesh International Trade Exhibition (UPITS) held in Greater Noida, Gautam Buddha Nagar. The exhibition has been organized from 25 September to 29 September.
FIEO (Federation of Indian Export Organization) quoted Nandi in a statement as saying that the state government is working to achieve the target of $ 1,000 billion economy by 2027 and international trade exhibitions will play an important role in this. He said that the state government is running more than 25 sector-wise policies to attract foreign investment and create employment. According to FIEO, more than 350 buyers from more than 70 countries are participating in UPITS. It aims to create trade and export opportunities for Indian exhibitors. The event is expected to promote joint ventures, FDI and investment in new and old projects.
In the session organized on the topic Operating Global Market: Possibilities, Challenges and Strategy for Indian Exporters, State MSME, Khadi and Village Industries, Silk, Handloom and Textiles Minister Rakesh Sachan said that MSMEs have an important role in the country's economy. He said that it is important for MSMEs to adopt innovation, technology and environment friendly activities to succeed in the global market. The second edition of UPITS will facilitate not only domestic manufacturers but also exporters to access global markets.
On this occasion, FIEO Director General and Chief Executive Officer (CEO) Dr. Ajay Sahay said that Uttar Pradesh has a significant share in the country's Gross Domestic Product (GDP) and overall exports and through state-centric efforts and strategic initiatives, it is expanding its presence in the global market. Can increase the stake further. He said that Uttar Pradesh's exports currently contribute 10 percent to India's total GDP and five percent to total exports. With sustained efforts, the state can aim to increase its share in India's total exports to 10 percent by 2030. FIEO President Ashwini Kumar said that the exhibition has provided an opportunity to showcase Uttar Pradesh's potential in manufacturing in emerging and other sectors like electronics, defence, machinery, medical equipment, pharmaceuticals etc.
