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‘U.P. playing important role in India’s transformation’
Senior advisor, trade and commerce, NITI Ayog, Sanjeet Singh said on Friday that Uttar Pradesh was showing way for the development of the country with good governance, infrastructure development, amendment of the old industrial and investment policies and promoting ease of doing business.
Lucknow: Senior advisor, trade and commerce, NITI Ayog, Sanjeet Singh said on Friday that Uttar Pradesh was playing an important role in the transformation of the country.
Speaking in a conference on ‘Uttar Pradesh- Designing and Manufacturing in India for the World’, Singh said post Covid pandemic and amid geo political conflict, India had emerged as the fastest growing economy in the world, had become a destination for the investors and was all set to emerge as the world’s third largest economy soon.
Uttar Pradesh was showing way for the development of the country with good governance, infrastructure development, amendment of the old industrial and investment policies and promoting ease of doing business. The factors that had added to the growth were clear plan of action and fast implementation. The development of Uttar Pradesh was now spreading from west to the other regions, he said.
UP was also propelling the country move to ‘Atma Nirbhar Bharat’, promoting production. The units in UP were manufacturing 60% of the mobile phones of the country. The state would play an important role in achieving the dollar five-trillion economy target set by the Prime Minister, he said.
UP minister for IT and electronics Yogendra Upadhyay said the state government was focusing on all round development of the state. “The state government is working to achieve the target of one-trillion-dollar economy by 2027. The digital infrastructure will play an important role in the achievement of the target. The Prime Minister has set the target of 300-billion-dollar digital manufacturing target for the country. The state government has amended its policy to attract investment,” he said.
Managing director and CEO, Samsung India Electronics Private Limited, JB Park said Samsung had old partnership with UP. The company established the first TV unit in NOIDA in 1996. Later, the company invested in consumable electronics, digital appliances and smartphones. The company set up the largest mobile manufacturing unit at NOIDA. The Samsung research and development centres had also produced engineers, he said.
Chairman, DIXON Technologies India Limited Sunil Vachani said today the country and the industry had an opportunity to make India the hub of electronic manufacturing. The total global market of electronic production was 900 billion dollar and India had share of less than 2% of the market.. In the domestic market, the penetration of the electronics product was very low – only 18% people in the country owned LED television and 12% owned washing machines. There was big domestic opportunity for the industry in the country, he said.
To create an eco-system for fast growth, the UP government should create a large production cluster over 2,000-acre area and encourage more investment in micro and medium units.
UP should lead the way for clearing the incentives for the companies on time and the cluster should get uninterrupted power supply, he said.
CMD, Sahasara Group of Companies, Amrit Manwani said the company was focusing on semi-conductor packaging. The sector was likely to grow from 10-billion-dollar market in the country to 70 billion dollars in the coming years. There was scope of establishment of semi-conductor plant in UP, he said.
Chairman of Indian Cellular and Electronics Association Pankaj Mohindroo said in December 2022, the export of mobile phones from India was worth ₹10,000 crore. Earlier, 80% of the phones in the country were imported from China. In this financial year, the country was likely to export ₹75,000 crore worth mobile phones. The mobile phone manufacturing eco-system had undergone transformation in the country, he said.
Rajeev Singh of Deloitte said UP’s target one trillion-dollar economy could be achieved only with important role of the manufacturing sector. UP had to grow four times over the next five years to achieve the target. If one job was created in the manufacturing sector, four jobs were created in the service sector. India had a big talent pool and UP led the country in the terms of talented human resource, he said.
