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Uttar Pradesh, the north aligned state sharing its borders with Uttarakhand, Bihar, Jharkhand, and many other states in India, is an upcoming locale with immense potential for industrial growth. With a “Zero Tolerance” assurance for law & order by the local government, various business sectors have started taking up potentially beneficial product for betterment of the state. Re-changing the existing perception, the investors are now aiming towards the revival of this state with its long lost glory after the Investor Summit of 2018. Apart from the existing industries such as livestock, agriculture, fishing, minerals, handloom, etc, the state has recently experienced a boom in some unique industrial sectors.
Listed below are the popular emerging industries in the state of Uttar Pradesh.
1-Electronics Manufacturing: Recently, the UP government introduced the UP Electronics Restructuring Policy according to which the areas such as Greater Noida, Noida, and the Yamuna Expressway were declared as the manufacturing zone for electronic products. The emergence of electronics manufacturing industry in the state of Uttar Pradesh has aimed at generation of at least 3 lakh vacancies for unemployed youth of the state by the year 2022. Additionally, this industry shall also allow for the set up of ESDM Parks by the private entrepreneurs that is aimed towards the revival of local economy with a boost to the GSDP.
2-Solar Energy: As per sources, Uttar Pradesh holds a capacity of generating at least 22,300MW of solar energy. Now, this is way beyond the Union Ministry’s set target of about 10,700MW dictating a flourishing future for the solar energy sector in the state. With the declining amount of generic power source such as coal, the country is moving towards unending power provided by Solar Energy. This is why UP has been focusing on making solar energy the mainstream power source for the state and beyond.
3-Bio-Energy: The inadequacy of power supply has acted as a derogatory spoil spot for the development process of Uttar Pradesh. Year-by-year, the supply demand gap has widened increasing the gravity of the situation. The generation of consumable energy from biomass showcases a mountainous potential in the state. The energy acquired from biomass is exempt of fluctuations seen in the case of wind power or storage requirements experienced in case of solar energy. Uttar Pradesh being agriculture based state houses a huge potential for Bio-energy generation acting as a sustainable answer to lack of power supply. Currently, the state houses a power potential of 1594.3MWe in terms of biomass as of now which is stated to increase with the rapid increase of Bio-Energy based industries in the state.
4-Food Processing: The food processing industry in Uttar Pradesh comes with vast prospect aiding employment generation, capital investment, as well as augmenting the rural income. In terms of huge market, sufficient human resource, low cost production, and abundance of raw material are what drive the investors towards food processing sector development in the state. The government is now set to develop this state as the “Food Park” of the country. The state has recently experienced a rising demand for the processed food products given the rapid urbanization, smaller families, population growth, and increased family income pushed by busy lifestyle. To add to the number of skill holders in the food processing industry, the government has also been developing institutes dedicated to training of participants and entrepreneurs interested in industrial establishment.
5-IT Industry: Uttar Pradesh’s driving factors for the IT industry is the infrastructure equipped areas like Greater Noida and Noida that flaunt a close proximity to the Indian capital, Delhi. This has catered international connectivity with inflow of good chunk of talent pool. As of recent, the IT sector of Uttar Pradesh has contributed immensely to growth of related industries. Popular IT industries in Uttar Pradesh include names such as Wipro, IBM, TCS, STMicroelectronics, and many more. Tier-II cities in Uttar Pradesh have attracted the attention of investors given the better scope for infrastructural establishment. Overall, the state today flaunts 15 industrial locales, 4 IIDC, and 12 specialized parks.
Udyog Bandhu
Udyog Bandhu, translated to “Friend of Industry” aids the facilitation of investment in the service and industrial sectors. As an organization institutionalized by the UP state government, this conglomeration also helps with catering a feasible solution to issues being faced by the existing as well as up-coming industries in the state. The firm aims towards transformation of UP into an investment-forward destination for entrepreneurs and financially strong investors for better business environment.
The organization follows the 3-tier structure for better functioning of various tasks at hand. In addition to this structural alignment, it organizes conclusive meetings via committees and forums to address any issues for industrial setup in the area. The types of meeting brought to table by the organization include Tripartite Meetings, Working Groups Meeting, Single Table System, and the High Powered Committee Meeting.
