UP made significant contribution in India’s economic development : Murmu

Greater Noida, Sep 21 (UNI) President Droupadi Murmu on Thursday praised Uttar Pradesh’s contribution in economic development of the country in the last six to seven years and said that it is on the strength of such excellent economic performance at the state level India’s economy is considered to be the fastest growing large economy in the world.

After inaugurating UP’s first International Trade Show being organised at India Export Mart here, the President said, “UP has made a significant contribution to the economic development of the country in the last six-seven years. I am told that the GDP of the state which was around Rs 13 lakh crore in the financial year 2016-17, is estimated to be around Rs 22 lakh crore in the financial year 2022-23.

This achievement of economic growth is undoubtedly commendable.”

She said, “It is on the strength of such excellent economic performance at the state level that India’s economy is considered to be the fastest growing large economy in the world. Today India is the fifth largest economy in the world and is determined to soon attain the position of the third largest economy in the world.

The economy of UP will have an important contribution in achieving this national resolution.”

Murmu said, “I congratulate all the participants on the occasion of the inauguration of UP International Trade Show. I am very happy to see the exhibition organised here. This program organised to take the products of UP to the markets of India and abroad is highly commendable. I appreciate Chief Minister Yogi Adityanath and his entire team for continuously providing energy and direction to the development of UP.”

The President said that in February she participated in the UP Global Investors Summit. “I have been told that proposals for capital investment on a very large scale have been received in that summit. Many efforts are being made by the state government to give concrete shape to those proposals. I extend my best wishes for the success of these efforts,” she said.

Murmu said, “I am told that more than 2,000 manufacturers are displaying their products in this trade show. From established industrial houses to new entrepreneurs, products from various categories of entrepreneurs are available here.”

She said, “It is a matter of happiness that representatives of embassies of different countries are also present here, through which the way for the products here to reach the global market will be facilitated.”

Murmu said that she was confident that this trade show will become a powerful medium for the manufacturers and entrepreneurs of UP to establish their reach and hold in the national and international markets.

The President said, “In recent years, the UP government has taken several steps to increase economic growth and investment. As a result of simplifying investment opportunities, ease of doing business and accelerating infrastructure development, UP is now among the fastest growing state-level economies in the country.”

She said, “UP has pledged to grow its economy to one trillion dollars. It is my belief that the UP government and its people will contribute significantly to India’s goal of becoming a 5 trillion dollar economy.

Murmu said that a good eco-system is being developed for Micro, Small and Medium Enterprises (MSMEs) in the state. “I am told that UP ranks first among all the states with more than 96 lakh MSME units. Despite being a land-locked province, the state’s exports are continuously increasing,” she said.

The President said, “I am happy to note that the state’s exports have increased from approximately Rs 88,000 crore in the financial year 2017-18 to approximately Rs 1,75,000 crore in the fiscal 2022-23. This is the result of the hard work and ability of the entrepreneurs of the state.”

She said that the entire world community was impressed by the success of the recently concluded G-20 Summit. “Even in UP, events were organised on G-20 issues in Agra, Lucknow, Varanasi and Greater Noida. As everyone knows, the G-20 is the largest forum for international economic cooperation.

G-20 countries account for 85 percent of the world’s total GDP and 75 percent of trade.”

The President said, “This time, the unanimously adopted G-20 Declaration included ‘local value creation’ under ‘Unlocking Trade for Growth’ and the goals of identifying the challenges faced by MSMEs and connecting them at the international level.”

She said, “I am told that more than 400 buyers from 66 countries from different parts of the world are also participating in this trade show. I am confident that this international trade show of UP will advance our national and international priorities in line with the goals of the G-20.”

Murmu said that the display of various products related to ‘One District One Product’ of the state is commendable in this event. “Along with handicrafts based products, young entrepreneurs of the state, especially women entrepreneurs are also showcasing their products. It is a good thing that women’s participation in entrepreneurship and the labour force is increasing. But it needs to be increased further,” she said.

The President said, “I was happy to know that an exhibition of 54 Geographical Indication (GI) products of the state is also being organised in this trade show. I appreciate this effort to present such products and their related areas to the country and abroad. I am confident that this international trade show will prove to be a milestone in the development journey of UP,” she added.

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