Reforms, global investments to drive Uttar Pradesh to $1-trillion economy by 2029: UP minister Dayashankar…

As per the latest business developments, The Uttar Pradesh government stays confident of making the state a $1-trillion economy by 2029, fuelled by firm interest from both domestic and foreign market participants, transport minister Dayashankar Singh told Moneycontrol on September 25.

"Market participants from all across the world are taking interest in Uttar Pradesh. The state has noted an improvement in law and order in recent years," Singh stated on the sidelines of the opening of the UP International Trade Show (UPITS) 2026.

Automobile, medical sector, roads and highways and mobilephone manufacturing are the key sectors in which market participants are showing interest, Singh stated.

The state government has in recent years taken many steps for ease of doing business. "The new single window portal is very helpful for market participants," Singh stated.

In May, the UP government rolled out Nivesh Mitra 3.0 portal– a single-window platform for market participants to get all clearances for setting up businesses. The 3.0 portal is an upgraded version of Nivesh Mitra portal rolled out in 2018.

The upgraded version focuses on digitalisation of services, re-engineering processes to make them simpler, faster, and more transparent. Through digital transformation, artificial intelligence and policy reforms, it eliminates procedural complexities and reduces compliance burdens.

By consolidating more than 500 services into fewer than 225 streamlined offerings, the platform ensures a more efficient and user-centric experience for market participants.

Singh stated the government is exporting all of over the world. "We will reach $1 trillion GSDP by 2029," he stated.

Singh stated electric buses now operate in 60 districts, up from merely 15 districts 10 years ago. "We are adopting EV to reduce dependence of petrol and diesel. Soon, EV buses will operate in all districts," he stated.

Earlier in the day, chief minister Yogi Adityanath stated the state is betting on its traditional manufacturing base to deepen its presence in global supply chains.

"The state now exports goods worth Rs 2 lakh crore and is seeking to connect its artisans and manufacturers directly with international firms," Adityanath stated in his address at the UPITS.

The chief minister highlighted investments in expressways, highways, airports and industrial corridors as key to making the state more competitive as a manufacturing destination.

Adityanath stated Uttar Pradesh was additionally seeking to benefit from India's expanding network of free trade agreements by attracting firms that could manufacture in the state and supply international markets. "The PM has done FTAs, we are providing a way for international firms to manufacture and supply from UP," he stated.