At the 2nd edition of the Uttar Pradesh International Trade Show 2024 held in Greater Noida, Vice-President of India, Mr. Jagdeep Dhankhar, delivered a compelling inaugural address highlighting Bharat's robust economic position as one of the world's most buoyant economies. He noted that Bharat has now reached a nearly US$ 4 trillion economy, with an impressive projected growth rate of 8% for the coming decades. This optimism reflects the strategic initiatives and policies implemented to enhance India’s standing as a favored destination for global investment.

Infrastructure Development

In his address, Mr. Dhankhar underscored India’s remarkable infrastructure development. He shared that the country is constructing an impressive 28 km of highways daily, adding 8 new airports annually, and expanding metro systems to accommodate the growing urban population. Under the leadership of Prime Minister Mr. Narendra Modi, the state of Uttar Pradesh is playing a pivotal role in this transformative journey. The establishment of 12 new industrial zones focused on emerging technologies like artificial intelligence (AI), electric mobility, and semiconductors is indicative of the state's commitment to becoming a hub for modern industries.

Digital and Financial Advancements

Mr. Dhankhar also highlighted India’s strides in digital and financial advancements. With an astonishing 13 billion digital financial transactions processed each month, India stands as a leader in digital finance. Additionally, the country boasts the world's third-largest startup ecosystem, home to 117 unicorns, which signifies the entrepreneurial spirit thriving in the nation. The growth of the semiconductor industry, projected to exceed US$ 55 billion by 2026, further cements India’s position as a critical player in the global tech landscape.

Shifting Paradigms

The Vice-President elaborated on the shift from the "Make in India" initiative to a more integrated approach of "Conceptualize, Design, and Make in India." This evolution aims to foster innovation and creativity within the country, ensuring that Indian industries can compete on a global scale.

Uttar Pradesh's Transformation

Mr. Dhankhar praised the transformative journey of Uttar Pradesh under the leadership of Chief Minister Mr. Yogi Adityanath. He expressed confidence in the state's ambitious goal of becoming a US$ 1 trillion economy by 2027, which will significantly contribute to India's overarching vision of achieving a US$ 5 trillion economy. This growth trajectory is supported by robust policies, investments, and a focus on emerging sectors.

Cultural and Economic Exchanges

During the trade show, Mr. Dhankhar also emphasized the importance of India's partnership with Vietnam. He noted the potential for fostering cultural and economic exchanges between the two nations, reflecting on India’s remarkable growth over the past decade and the mutual benefits that can arise from strengthened ties.

Conclusion

The Uttar Pradesh International Trade Show 2024 served as a platform to showcase India’s economic potential and infrastructure advancements. Vice-President Jagdeep Dhankhar's address highlighted the significant progress the country has made and the ambitious goals set for the future. With continued focus on digital innovation, infrastructure development, and strategic partnerships, India is poised for a promising economic trajectory, contributing to its vision of becoming a global economic powerhouse. The efforts of Uttar Pradesh in particular reflect a microcosm of the broader national goals, emphasizing the importance of regional development in achieving national success.

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