New Delhi, 27 September (H.S.): Union Minister for Commerce and Industry Piyush Goyal said on Sunday that Uttar Pradesh (UP) has emerged as a preferred investment destination for domestic and global investors, owing to its favourable industrial policies and ability to attract major companies. He said that expanding exports, investment and access to global markets would contribute to the goal of transforming Uttar Pradesh into a one-trillion-dollar economy.

Addressing the UP International Trade Show in Greater Noida, Goyal said the significant increase in the state’s revenue collection has played an important role in accelerating its development. The state’s annual exports currently stand at around Rs 2 lakh crore, with a target of increasing them to Rs 5 lakh crore by 2030.

Addressing the fourth UP International Trade Show organised at the India Expo Centre & Mart in Greater Noida, the Union Commerce and Industry Minister said, “Uttar Pradesh has become a preferred investment destination because of its favourable industrial policies.” He further said that leading corporate houses and global investors are coming to the state across various sectors, creating new employment opportunities.

Goyal said the state’s excise revenue collection has increased more than fourfold, from Rs 14,273 crore in financial year 2016-17 to Rs 60,728 crore in financial year 2025-26. It is expected to reach Rs 70,000 crore by the end of the current financial year 2026-27.

He said revenue from land transfer and registration fees, including stamp duty collections, has also risen from Rs 11,564 crore in financial year 2016-17 to Rs 43,802 crore in the budget for financial year 2026-27. Goyal said mining revenue collection has recorded a similarly substantial increase and that the entire revenue is being utilised to drive the state’s economic growth.

He said the next phase of Uttar Pradesh’s development would focus on increasing exports to global markets, attracting international investment, strengthening tourism and giving the state’s local brands international recognition.

In a post on X, the Union Commerce Minister wrote that he had the opportunity to closely witness the convergence of Uttar Pradesh’s potential, skills and global opportunities at the fourth edition of the UP International Trade Show and share his views.

Goyal said that from expressways, airports and industrial parks to defence, semiconductor and electronics clusters, Uttar Pradesh has laid a strong foundation for development.

He said Uttar Pradesh is continuously moving towards becoming an export-ready state, building globally recognised brands and emerging as a reliable manufacturing partner.

Goyal said harnessing the potential of young people, MSMEs, artisans and new technologies to take local products global is the objective of both a developed Uttar Pradesh and a developed India. He said the five days of the trade fair are not merely limited to an exhibition but mark the beginning of new opportunities for global trade that will continue throughout the year.

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Hindusthan Samachar / Jun Sarkar