3 days ago
Red carpet, not red tape, awaits investors in UP, says minister at excise summit
Minister of state (Independent) for Excise and Prohibition Nitin Agarwal said a 'red carpet' and not 'red tape' invited investors in Uttar Pradesh. The minister added that the BJP government in the state had changed its image from a crime state to the most preferred investment destination. Minister Nitin Agarwal and other guests at the Summit held at Indira Gandhi Pratishthan in Lucknow on Wednesday
Speaking at the first-of-its-kind Excise Investors Summit organised at Indira Gandhi Pratishthan in Lucknow on Wednesday, the minister said, 'Under the leadership of Chief Minister Yogi Adityanath ji, the state has seen remarkable changes. The state has now become a top destination for investors and is a place where exports have doubled. It is a leader in infrastructure and ranks second in ease of doing business.'
'The state has become India's second-largest economy and top producer of ethanol,' Agarwal claimed.
Addressing investors at the Summit, the minister said, 'Eight years ago, no one would have thought about organising such an event in UP… Our government has transformed the work culture, and now we have rolled out a red carpet for investors instead of red tape. Exports have doubled in the last eight years. We introduced the Nivesh Mitra portal and implemented a single window system.'
At the event, International Spirits & Wines Association of India (ISWAI) launched a comprehensive report on the state's alcohol industry. Titled 'Building Pathways for Future Investments and Growth: Alcoholic Beverage Industry in Uttar Pradesh', the report states that the alcoholic beverages industry contributed around ₹56,000 crore (FY 2023-24) in market revenue, which is equivalent to 2.4% of the state's GDP. The industry supports over 5.3 lakh livelihoods, with critical linkages to agriculture, manufacturing, packaging, hospitality, logistics, and retail.
The report calls for policy initiatives such as tax rationalisation for premium products, retail accessibility expansion, support for exports, and greater digitisation of regulatory systems to enhance ease of doing business.
Commending ISWAI's efforts in compiling the report, UP excise commissioner Dr. Adarsh Singh said, 'The insights offered will be valuable for policymakers, industry stakeholders, and investors alike. Going forward, it is through such constructive partnerships that we can co-create a modern, transparent, and growth-oriented excise ecosystem.'
Parvinder Singh, the regional director of ISWAI, said, 'Uttar Pradesh is transforming into an economic powerhouse, and the alcoholic beverages sector is a key growth partner in this journey. With supportive policies and forward-looking governance, the state can become a hub for premium beverage manufacturing and tourism.'
Proposals worth ₹3,600 crore received
Investment proposals worth ₹3,600 crore were received in this conference, officials said. The excise minister said that in the past 142 investment proposals were received through Invest UP for setting up alcohol-based industries in the state. Out of them, 135 MoUs were signed. An investment of ₹39,479.39 crore was received and 73,524 employment opportunities were created. Also, an investment of ₹7,888.73 crore is being made in 46 GBC-ready projects.
