International Monetary Fund (IMF) executive director (India) Krishnamurthy Subramanian on Saturday gave key suggestions to make Uttar Pradesh a trillion-dollar economy by 2027, according to an official communique. He also made a presentation in this regard here.
A boost could be given to the Uttar Pradesh economy by focusing on information technology, tourism, MSME (micro small and medium enterprises), agriculture, education and food processing sectors, he said.
The state government should aim at making Uttar Pradesh a data storage and processing hub, said Subramanian, India’s former chief economic advisor (CEA) and professor at Indian School of Business.
Priority should be given to the data and digital start-up sector in the new industrial policy of Uttar Pradesh, the senior IMF official added.
India is going to be main global and tech market, he said, adding that there was a need for easy templates for start-ups for doing business in the state. Any enterprise should be recognised as a start-up and a tension free business environment should be provided, he added.
The state government’s move to provide financial support on interest would boost innovation and technology, the senior IMF official said.
{{/usCountry}}The state government’s move to provide financial support on interest would boost innovation and technology, the senior IMF official said.
{{/usCountry}}Chief secretary Durga Shankar Mishra said Uttar Pradesh would use its potential in bringing about multi-dimensional development of India.
Stating that the Uttar Pradesh aimed to make the state a trillion-dollar economy, he said 10 sectors have been identified to bring about all-round development. Short-term and long-term action plans have been worked out for every sector and their implementation is being consistently monitored, he said. He also said faster development of infrastructure facilities would attract larger investment and create employment opportunities. There had been an improvement in connectivity in the state, he added.