From ‘goonda tax’ to ₹50 lakh crore investment: How Yogi is reshaping UP’s growth story
He said the state’s push on law and order, manufacturing and MSMEs has put it on track for a $1 trillion economy by 2029-30.
- May 12, 2026,
- Updated May 12, 2026 11:47 AM IST
Uttar Pradesh Chief Minister Yogi Adityanath on Monday said his government’s enforcement of the rule of law was the bedrock of the state’s industrial and economic revival over the past nine years.
Addressing the Confederation of Indian Industry’s Annual Business Summit 2026 in his maiden appearance at the event as Chief Minister, he said Uttar Pradesh had received investment proposals worth ₹50 lakh crore and was on course to become a $1 trillion economy by 2029-30. He invited CII and business leaders to invest in the state.
The CII leadership thanked Adityanath for attending despite his recent election campaigning in West Bengal and with the Uttar Pradesh Assembly polls due next February-March. Adityanath said the day was auspicious as it marked the 75th anniversary of the reconstruction of the Somnath Temple and the anniversary of the 1998 Pokhran nuclear test.
DO CHECKOUT | "96 Lakh MSMEs In UP": CM Yogi Highlights Record Employment For 3 Crore Workers
Speaking about the state’s turnaround since 2017, Adityanath said Uttar Pradesh had earlier seen more than 300 riots a year on average, curfews, extortion in the form of “goonda tax”, farmer suicides, poor roads, a lack of safety for women, and migration of youth and entrepreneurs.
He said that although he was inexperienced, managing the Gorakhnath Math in Gorakhpur had given him the discipline to run the state. He said his priorities were to establish the rule of law, end policy paralysis, frame sectoral policies for industrial revival, curb arbitrariness in decision-making, and reduce farmers’ suicides through agricultural growth.
Adityanath said his government strengthened manufacturing, supported MSMEs, created a land bank and adopted zero tolerance towards criminals.
“Today, I feel a sense of satisfaction when I see girls going to school, especially in western UP,” he said, while recalling the case of an entrepreneur in Kairana who was shot dead in front of his five-year-old daughter and the action taken against the accused. Referring to his recent visit to Bengal, he said, “They told me that only 7,000 industrial units are left in Bengal. I said in my nine years, 18,000 big industries and 9.6 million MSMEs have set up units in UP.”
He added, “We received ₹4.67 trillion worth of investment proposals in our first investors summit, with 60 per cent of these holding groundbreaking ceremonies. We have received ₹50 trillion worth of investment proposals until now and have created a 75,000-acre land bank, improved road, rail and air connectivity.”
He said UP now accounts for 60% of the country’s electronic components manufacturing, is among the top three state economies, and has seen growth in GSDP, per capita income, agriculture and tourism, while MSMEs have created jobs for 30 million youth.
Yogi added that 55% of the country's mobile manufacturing comes from Uttar Pradesh.
CII President Rajiv Memani said UP accounts for 9 per cent of India’s GDP, is the country’s second-largest economy, posted a revenue surplus of ₹37,000 crore in FY25, and is projected to post ₹80,000 crore in FY26, with a fiscal deficit of 2.9 per cent and no new taxes.
Uttar Pradesh Chief Minister Yogi Adityanath on Monday said his government’s enforcement of the rule of law was the bedrock of the state’s industrial and economic revival over the past nine years.
Addressing the Confederation of Indian Industry’s Annual Business Summit 2026 in his maiden appearance at the event as Chief Minister, he said Uttar Pradesh had received investment proposals worth ₹50 lakh crore and was on course to become a $1 trillion economy by 2029-30. He invited CII and business leaders to invest in the state.
The CII leadership thanked Adityanath for attending despite his recent election campaigning in West Bengal and with the Uttar Pradesh Assembly polls due next February-March. Adityanath said the day was auspicious as it marked the 75th anniversary of the reconstruction of the Somnath Temple and the anniversary of the 1998 Pokhran nuclear test.
DO CHECKOUT | "96 Lakh MSMEs In UP": CM Yogi Highlights Record Employment For 3 Crore Workers
Speaking about the state’s turnaround since 2017, Adityanath said Uttar Pradesh had earlier seen more than 300 riots a year on average, curfews, extortion in the form of “goonda tax”, farmer suicides, poor roads, a lack of safety for women, and migration of youth and entrepreneurs.
He said that although he was inexperienced, managing the Gorakhnath Math in Gorakhpur had given him the discipline to run the state. He said his priorities were to establish the rule of law, end policy paralysis, frame sectoral policies for industrial revival, curb arbitrariness in decision-making, and reduce farmers’ suicides through agricultural growth.
Adityanath said his government strengthened manufacturing, supported MSMEs, created a land bank and adopted zero tolerance towards criminals.
“Today, I feel a sense of satisfaction when I see girls going to school, especially in western UP,” he said, while recalling the case of an entrepreneur in Kairana who was shot dead in front of his five-year-old daughter and the action taken against the accused. Referring to his recent visit to Bengal, he said, “They told me that only 7,000 industrial units are left in Bengal. I said in my nine years, 18,000 big industries and 9.6 million MSMEs have set up units in UP.”
He added, “We received ₹4.67 trillion worth of investment proposals in our first investors summit, with 60 per cent of these holding groundbreaking ceremonies. We have received ₹50 trillion worth of investment proposals until now and have created a 75,000-acre land bank, improved road, rail and air connectivity.”
He said UP now accounts for 60% of the country’s electronic components manufacturing, is among the top three state economies, and has seen growth in GSDP, per capita income, agriculture and tourism, while MSMEs have created jobs for 30 million youth.
Yogi added that 55% of the country's mobile manufacturing comes from Uttar Pradesh.
CII President Rajiv Memani said UP accounts for 9 per cent of India’s GDP, is the country’s second-largest economy, posted a revenue surplus of ₹37,000 crore in FY25, and is projected to post ₹80,000 crore in FY26, with a fiscal deficit of 2.9 per cent and no new taxes.