Development of UP necessary to make India $5 trillion economy: Amit Shah

Amit Shah said the development of UP is necessary to make India a five trillion dollar economy and that micro, small and medium enterprises (MSME) will play a key role in achieving the target

Union Home and Cooperation Minister Amit Shah Friday said the development of Uttar Pradesh is necessary to make India a five trillion dollar economy and that micro, small and medium enterprises (MSME) will play a key role in achieving the target.

Shah was speaking at a session, titled "Enhancing and Empowering MSME and Cooperatives", at the Uttar Pradesh Global Investors Summit. The prime minister inaugurated the summit on Friday.

"Prime Minister Narendra Modi has set a target of making the country a five trillion dollar economy. For this, the development of UP is necessary. This is why taking UP forward means giving speed to the development of the country," he said, adding, "Unless there is development in UP, our country cannot develop much."

He said the MSME sector has huge potential for steering the state towards development.

"I come from Gujarat where industry and investment are not new. But I can say that several industries which are counted among the biggest in the world started as MSME," Shah said.

The Uttar Pradesh government has claimed that it has received investment proposals worth Rs 1.42 lakh crore in the MSME sector.

"Cooperative and MSME sectors have the biggest potential for employment. The trust given to the MSME sector in UP will provide a robust system to generate employment here," Shah said.

"I would like to congratulate (Chief Minister) Yogi Adityanath for holding the Global Investors Summit to bring investments to Uttar Pradesh. These three days will prove beneficial and fruitful for UP for the next three years," Shah said.

He said, "I learnt in Physics that mass multiplied by velocity is equal to momentum. Uttar Pradesh has mass (people) which has velocity that is why the state has momentum."

Stating that conditions are favourable for investment in Uttar Pradesh, Shah said, "The state of law and order has improved in Uttar Pradesh. UP is among the states where maximum investment has been made in the infrastructure sector in the last five years. Several policies have been made to promote industries...and remove an environment of confusion in UP. The BJP government in UP is working in a transparent manner. There are no allegations on our government. Along with this, the UP government has shown courage to take quick decisions."

Shah hit out at the previous governments in his address. Without taking any name, Shah said, "Earlier the government held investor summits for UP in Delhi instead of Lucknow. How can one invest in UP if he cannot come to UP?"

"It is a matter of happiness that investors from all sectors have come to Lucknow to invest in Uttar Pradesh. Several good proposals for investment have come. Our minister visited many countries and in several cities in run-up to his event. I feel that this event will change the destiny of the state," said Shah.

Speaking before him, Chief Minister Adityanath praised Shah and his focus on the development of cooperative and MSME sectors.