Yogi Unveils EV Plant, Says UP Now a 'Fearless Business' Destination

The facility, dedicated to the nation in a record time of just 18 months, is a clear evidence of Uttar Pradesh's rapid industrial transformation under the double-engine government at the state and the Centre.

The dignitaries visited the modern plant and planted 'Sindoor' (vermilion) and Rudraksha saplings on the premises, marking a blend of tradition and progress.

Congratulating the firm's Chairman for their investment, CM Yogi Adityanath expressed deep gratitude for their faith in Uttar Pradesh's governance.

The hallmarks of the new Uttar Pradesh are "Fearless Business", "Ease of Doing Business", and "Trust of Doing Business", the Chief Minister said.

He described the project as highly significant, aligning with Prime Minister Narendra Modi's vision of sustainable industrial growth and environmental protection.

Recalling the pre-2017 era, the Chief Minister said Uttar Pradesh was once plagued by lawlessness, where investors fled and the state faced an identity crisis.

"Before 2017, it was a state of unrest; today, it is a state of celebration," the Chief Minister declared.

"No longer labeled a BIMARU state, Uttar Pradesh has become revenue-surplus through clear intent, decisive governance, and a strong vision."

"Investors were steadily withdrawing, and the state struggled with unrest," he noted.

However, since 2017, the Yogi Adityanath government has reaffirmed Uttar Pradesh as a land of unlimited potential.

Today, the Chief Minister said, Uttar Pradesh has emerged as a state that converts vast opportunities into tangible results.

The past eight-and-a-half years stand as clear evidence of this remarkable change, he added.

"The new plant currently has an annual capacity of 2,500 units, with plans to scale up to 5,000 in phases."

It will generate thousands of direct and indirect employment opportunities for the state's youth, the Chief Minister said.

CM Yogi Adityanath highlighted that the facility reflects the national commitment to combating climate change through electric mobility.

Investments, he added, are now flowing into all 75 districts.

"Uttar Pradesh boasts exceptional infrastructure, with 55 per cent of India's expressways, metro services in the highest number of cities, the country's largest rail network, two dedicated freight corridors, logistics terminals, the first rapid rail, and operational inland waterways."

"With 34 sector-specific policies in place, investors can contribute across any sector."

The state has received investment proposals worth Rs 45 lakh crore over the past eight to nine years, CM Yogi Adityanath added.

"Projects worth Rs 15 lakh crore have seen ground-breaking, another Rs 6 lakh crore is scheduled for next month, and Rs 5 lakh crore more are in the pipeline. Contributing 9.5 per cent to India's GDP, Uttar Pradesh's GSDP is projected to reach Rs 36 lakh crore by the end of the current financial year."

"The state aims to become a $1 trillion economy by 2029-30, supporting the national goal of a $5 trillion economy by 2027."

Uttar Pradesh has rapidly become a global hub for electronics and IT, accounting for 55 per cent of India's mobile phone manufacturing and 60 per cent of electronic goods production.

It excels in ease of doing business and thrives in sectors like MSMEs, AI (artificial intelligence), semiconductors, cybersecurity, robotics, electric vehicles, agritech, fintech, deeptech, healthtech, tourism, hospitality, defence manufacturing, and sports.

The state hosts more than 18,000 startups, backed by 76 incubators, seven Centres of Excellence, and eight unicorns.

The manufacturing firm plant was established under the state's FDI and Fortune 500 policy.

Prior to 2017, foreign direct investment was negligible, but proactive measures have attracted global players.

The MoU was signed in September 2023, land allotted in January 2024, and the world-class facility commissioned in 18 months-a testament to fast-track approvals and robust governance.

Platforms like Nivesh Mitra, Nivesh Sarathi, and Udyami Mitra ensure seamless coordination and investor support.

In 2024, Uttar Pradesh captured 19 per cent of India's electric vehicle market and benefited significantly from FAME I and FAME II schemes, with 700 electric buses in operation.

The plant will produce 17-18 seater electric vehicles priced at around Rs 15 lakh, ideal for school transport and inter-city connectivity, boosted by the state's Electric Vehicle Policy.

- IANS