UP Government Unveils Ambitious $1 Trillion Economy Blueprint

The Uttar Pradesh government has approved a draft bill to create Special Investment Regions (SIRs) aiming to attract national and international investors, boosting its economy towards a $1 trillion target. The bill proposes creating four SIRs and encourages MSME growth, alongside the reappointment of 2,200 teachers in non-government aided schools.

The Uttar Pradesh government has scaled up its economic ambitions by approving a draft bill aimed at transforming the state into a $1 trillion economy. The Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024, passed during a cabinet meeting chaired by Chief Minister Yogi Adityanath, seeks to establish Special Investment Regions (SIRs) to attract major investors from within India and globally.

The bill proposes the creation of at least four SIRs in different geographical areas of the state, leveraging a 20,000-acre land bank. Officials believe this move will enhance the ease of doing business, spur economic development, and generate new employment opportunities.

Moreover, the UP government approved a Memorandum of Understanding (MoU) between India Trade Promotion Organisation (ITPO) and MSMEs to further support industrial investments. This initiative is complemented by plans to reappoint 2,200 teachers on a temporary basis to address vacancies in non-government aided secondary schools.

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