Uttar Pradesh has emerged as a preferred investment destination due to its favourable industrial policies and ability to attract large companies, according to Commerce and Industry Minister Piyush Goyal. Speaking at the UP International Trade Show in Greater Noida, Goyal highlighted that major corporations and global investors are arriving across sectors, creating new employment opportunities. The minister emphasized that the state's industrial-friendly environment has made it an attractive destination for both domestic and international investors, with new investments expected to flow into India from across the globe.
The state currently maintains an annual export volume of around ₹2 lakh crore and has set an ambitious target to increase this to ₹5 lakh crore by 2030, as reported by Goyal. This represents a significant expansion in the state's export capabilities and positions Uttar Pradesh as a major player in India's export economy. The minister identified expanding exports in global markets as the next frontier for Uttar Pradesh's development, noting that as global markets open up to India through Free Trade Agreements (FTAs), Uttar Pradesh's entrepreneurs will have greater opportunities to access international markets.
According to Goyal's statements, excise duty collection increased over four times to ₹60,728 crore in 2025-26 from ₹14,273 crore in 2016-17. The collection is expected to reach ₹70,000 crore by the end of this fiscal year. Additionally, land transfer registration fees, including stamp duty collections, increased to ₹43,802 crore in the 2026-27 Budget from ₹11,564 crore in 2016-17. These revenue increases are being utilized to push the state's economic development across various sectors.
As reported by Goyal, the state is focusing on attracting international investments, strengthening tourism, and building global recognition for brands from Uttar Pradesh. The minister highlighted the development of expressways, modern airports and industrial parks in Uttar Pradesh and noted the state's growing presence across sectors including defence, semiconductors, electronics and other modern high-technology domains. He referenced the expansion of a large robotics manufacturing facility in Greater Noida as an example of modern industrial growth and technological development, with the minister noting that international events provide opportunities for direct access to global markets.
The minister emphasized that the state is strengthening its foundation for greater global trade and progressing towards its development objectives. Goyal called for active participation and cooperation from the state's trade and industrial community in taking forward this development journey, noting the importance of coordination between the central and state governments along with participation of citizens, youth and stakeholders from the trade and industrial sector in supporting Uttar Pradesh's continued economic and export growth. The comprehensive approach to revenue generation and investment attraction has contributed to Uttar Pradesh's emergence as a preferred investment destination in India's industrial landscape.
