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U.P. has embarked on new era of growth: CM
Uttar Pradesh CM Yogi Adityanath laid the foundation for IKEA's Noida store, expected by 2028, promising 9,000 jobs and boosting state investment confidence.
Uttar Pradesh chief minister Yogi Adityanath on Monday virtually laid the foundation stone for the IKEA store in Noida. It paves the way for the first retail commercial space in the state by Swedish furniture retailer. The project is likely to be completed by 2028.
Speaking on the occasion from Lucknow, he said, “Uttar Pradesh has gained the confidence of both domestic and international investors, with IKEA India being a key example for the same.”
Yogi expressed gratitude for IKEA India’s ₹5,500 crore investment proposal, which is likely to generate employment for over 9000 youths, and said Uttar Pradesh has become the preferred investment destination in India. He said the state has embarked on a new era of growth.
The CM highlighted the ambitious project by Ingka Centres, which will feature an IKEA retail store, a hotel, office spaces, and a shopping centre.
Yogi said since 2017, Uttar Pradesh has been actively promoting infrastructure development, fostering new investment opportunities, skill development, and promoting traditional products, all of which are now yielding tangible results.
The CM underscored the state’s ODOP (One District One Product) scheme as a pioneering initiative nationwide and said Uttar Pradesh’s is in leading position in ease of doing business, bolstered by its robust law and order environment.
“Uttar Pradesh, India’s most populous state, currently contributes 9.2 per cent to the nation’s economy. It has emerged as the second-largest state economy in the country and is rapidly advancing as a key driver of India’s development,” he said.
About his government’s move of introducing its industrial development policy in 2017, the CM said, “At that time, PM Narendra Modi emphasised that investment should be linked to employment. The groundbreaking of the IKEA India store directly results from this guidance.”
Yogi said Uttar Pradesh boasts of the country’s largest and most talented youth population. He said the state’s unemployment rate has decreased over the past seven-and-a-half years.
Th CM said Uttar Pradesh actively contributes to national development through a sectoral policy covering 27 different sectors. He also mentioned that by the end of this year, the Noida, Greater Noida and Yamuna Authority areas will be connected to public transport facilities and India’s largest Noida International Airport.
“This region is also crucial for logistics, as it will intersect with the Eastern and Western Dedicated Freight Corridor in Gautam Buddh Nagar district. With its immense potential, Uttar Pradesh offers significant benefits to India and the global community,” Yogi said.
Sweden’s Ambassador to India Jan Thesleff, Uttar Pradesh’s industrial development minister Nand Gopal Gupta ‘Nandi’, MSME minister Rakesh Sachan, minister of state for industrial development Jaswant Saini, chief secretary Manoj Singh and IKEA India CEO Susanne Pulverer were among those who attended the event.
Noida Authority chief executive officer Lokesh M said they expedited work on the project’s map approval so that the work finished on time.
“We are happy to welcome Ingka Centres and IKEA to the state of Uttar Pradesh. U.P.’s investor-friendly policies will help the project reach its maximum potential and benefit the state,” said state industrial development minister Nand Gopal Gupta ‘Nandi’.
