New Delhi: Commerce and industry minister Piyush Goyal on Sunday said that Uttar Pradesh has emerged as a preferred investment destination due to favourable industrial policies and its ability to attract large companies. “Significant increase in the state revenue collection has helped to push the development of the state,” the minister said, while addressing the UP International Trade Show in Greater Noida.
The minister also said that the state currently has an annual export volume of around Rs 2 lakh crore and has set a target to increase this to Rs 5 lakh crore by 2030. “Uttar Pradesh is a preferred investment destination due to its favourable industrial policies,” he said, adding that major corporations and global investors are arriving across sectors, creating new employment opportunities.
Goyal also said that excise duty collection increased over four times to Rs 60,728 crore in 2025-26 from Rs 14,273 crore in 2016-17. It is expected to reach Rs 70,000 by the end of this fiscal. “Land transfer registration fees, including stamp duty collections, increased to Rs 43,802 crore in the 2026-27 Budget, from Rs 11,564 crore in 2016-17,” he said.
He also said that a similar jump has been registered in mining revenue collections and all this is being used to push the state’s economic development. “The next frontier for Uttar Pradesh’s development lies in expanding exports in global markets, attracting international investments, strengthening tourism and building global recognition for brands from the state,” he added.
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