UP seeks Asian investments to reach $1 trillion economy goal
The state proposes developing 500-acre industrial enclaves near the Narendra Modi International Airport to attract foreign capital.
The Uttar Pradesh (UP) government is targeting leading Asian economies, including Japan, Singapore, South Korea, and Taiwan, to secure major foreign investments. According to Business Standard, the state aims to reach a $1 trillion economy by 2030.
To attract sectors such as semiconductors, data centres, and advanced electronics, the state has proposed creating country-specific industrial enclaves and townships. These enclaves, intended for Japan, South Korea, and Singapore, would each cover 500 acres near the Narendra Modi International Airport.
The Yamuna Expressway Industrial Development Authority will facilitate these infrastructure projects, which are expected to involve investments exceeding ₹3,000 crore. State Finance Minister and Parliamentary Affairs Minister Suresh Khanna said the state's Foreign Direct Investment Policy is drawing global investors.
Khanna added that the government has provided more than ₹70,000 crore in incentives to entrepreneurs to date. The state is also engaging with investors from Germany and Taiwan, following visits from Japanese and German delegations.
A 200-member Japanese business delegation from Yamanashi prefecture recently visited the state, with Japan identifying tourism, human resource development, and green hydrogen as areas for collaboration. Meanwhile, a high-level state delegation visited Taipei to explore opportunities.
The government is preparing for a Ground Breaking Ceremony 3.0 in December to launch projects valued at ₹8 trillion for domestic and global investors. Currently, the state has an industrial land inventory of over 75,000 acres and is developing 27 manufacturing and logistics clusters.