UP has emerged as preferred investment destination: Goyal

Uttar Pradesh has emerged as a preferred investment destination due to favourable industrial policies and its ability to attract large companies, Commerce and Industry Minister Piyush Goyal said on Sunday.

Addressing the UP International Trade Show in Greater Noida, he also said that a significant increase in the state's revenue collection has helped to push the development of the state.

The minister noted 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.

He added 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 `43,802 crore in the 2026-27 Budget, from Rs 11,564 crore in 2016-17.

A similar jump has been registered in mining revenue collections and all this is being used to push the state’s economic development, Goyal said.

Goyal added that 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.