‘No more BIMARU, UP has emerged as major investment destination’

Lucknow: Uttar Pradesh has moved far beyond the old BIMARU label and is now being viewed as a major investment destination, speakers said at a panel discussion on ‘Nine Years of Holistic Development’ during the ‘Nine Defining Years of Transformation’ conclave held at a private hotel here on Thursday.Union Bank of India general manager Rajesh Kumar said the state’s gross state domestic product (GSDP) has risen sharply over the past decade, from Rs 11 lakh crore to Rs 36 lakh crore, reflecting a broad shift in economic momentum and investor confidence.Kumar said the turnaround became visible when the state leadership began actively reaching out to investors outside Uttar Pradesh.Recalling his posting in Mumbai around a decade ago, he said he saw the impact of chief minister Yogi Adityanath’s visit to the

Bombay Stock Exchange

to invite industrialists and businesses to the state’s investor summit.According to him, that outreach marked the beginning of a faster growth phase for Uttar Pradesh and helped reshape perceptions of the state among investors and financial institutions.He also highlighted the role of govt-backed schemes in changing the employment landscape.Referring to the Mukhyamantri Yuva Udyami Vikas Abhiyan, Kumar said such initiatives were helping students and young people become job creators instead of job seekers.

He added that the state was also facilitating education loans of up to Rs 40 lakh without collateral, enabling students to pursue higher and global education opportunities without being constrained by finances.Hari Om, principal secretary, vocational education and skill development, said the transformation of Uttar Pradesh could be understood through three major domains — society, the state and the market — and the interaction among them had a direct impact on people’s lives.He said change took place across sectors and daily life was now increasingly shaped by information, machines and technology. Alongside visible gains in infrastructure, he said, there was now a need to absorb, understand and effectively use the large volume of information and opportunities generated by this transformation.Ashok Leyland Lucknow vice president and plant head Shakti Singh Yadav said technology had altered life in fundamental ways and should be used to create positive outcomes.Speaking on concerns around artificial intelligence, he said fears often focused only on job losses in specific areas, while ignoring the possibility that AI could generate even more employment in new sectors and roles.Yadav said the present moment required people to unlearn outdated practices and acquire new skills so they could adapt to technological change.Ishmeet Singh, CEO of Central Square Foundation, said govt efforts had significantly changed the perception of Uttar Pradesh in areas such as law and order and education.

He said the state was now performing strongly in learning outcomes and credited the NIPUN Bharat mission with bringing major improvements in foundational learning.He said special attention had been given to the primary section in govt schools and that the focus on foundational literacy and numeracy had produced encouraging results.Women Entrepreneur Cell, Indian Industries Association chairperson Anandi Agarwal said women’s education, access to loans and skill development had improved considerably in recent years. She said initiatives such as the Nivesh Mitra Portal and the expansion of online transactions were helping create a more supportive environment for

women entrepreneurs

in the state.At the same time, she said more work remained to be done. Many women entrepreneurs still struggled with paperwork and lacked awareness of legal procedures. She said only 20% of MSMEs were currently women-led and stressed that this share should rise to 50%.