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Asserting that Uttar Pradesh has emerged as a major destination for investment and global trade, Union commerce and industry minister Piyush Goyal on Sunday said Uttar Pradesh had embarked on a new journey of development, whose echo was being heard not just across the country but around the world.
Goyal was addressing a special business session, “Leveraging India’s Free Trade Agreements for Global Business Growth”, as chief guest on the third day of the fourth UP International Trade Show (UPITS-2026) at India Expo Mart in Greater Noida.
“Today, UP’s positive mindset, the confidence of its entrepreneurs and its commitment to development have become its new identity. This event, which began on the occasion of Pandit Deendayal Upadhyaya’s birth anniversary, will continue to grow bigger and more impactful in the coming years. The entire world will look upon UP’s development journey as an example,” he said.
The Union minister said expressways, new airports, large industrial parks and investments in modern sectors such as defence, semiconductors and electronics reflected the changing face of UP.
“The rapidly developing robotics factory near Noida shows how UP is now establishing strong identity even in emerging sectors. The next phase of state’s development is being linked with international trade, exports, foreign investment and tourism. Local brands of UP are establishing their identity in global markets,” he said.
Goyal said the target of increasing UP’s exports to ₹5 lakh crore by 2030 reflected the state’s growing confidence and economic potential.
Recalling the situation in 2017, Goyal said there were concerns over law and order and the business environment in the state.
“Entrepreneurs lacked confidence and there was little enthusiasm for setting up industries. Even major industrial centres were not looking towards UP for investment, while international investment was even more distant. Discussions about large-scale migration were common and UP was viewed as one of the backward states. It was difficult to imagine investments in robotics, the Defence Corridor and semiconductors,” he said.
Referring to the preparation of the BJP’s Sankalp Patra in 2017, he said party workers had gone door to door to gather suggestions.
“Aspirations were extensive and required huge resources. The budget was limited. After salaries, limited funds remained for development. Yet, we estimated that a substantial additional amount would be required every year,” he said.
Goyal said better governance had led to a manifold increase in revenue.
“Compared to 2016-17, excise revenue has increased nearly five times. It is the same land, but revenue from land transfers, registration and stamp duty has changed significantly. Mining revenue from sand, maurang and stone was ₹1,548 crore in 2016-17; today, it has increased manifold,” he said.
“The impact is visible. While the state faced financial pressure and a revenue deficit earlier, today the UP government presents a surplus budget. This reduces the burden of unnecessary debt on present and future generations,” he added.
Goyal said UPITS was not merely a trade fair but an important platform connecting the state’s industry with global markets.
“FTAs are opening markets across the world for Indian products. Entrepreneurs of UP should utilise these opportunities to take local specialties to global markets. They should enhance quality, innovation and competitiveness in line with global demands,” he said.
State MSME minister Bhupendra Chaudhary, industrial development minister Nand Gopal Gupta Nandi, MoS MSME Hansraj Vishwakarma, principal secretary (MSME) Shashi Bhushan Lal Sushil, and others were present.
