Local to Global: Propelling India's Economic Rise, says VP Dhankhar

Shri Dhankhar lauded India’s infrastructure expansion, citing the annual addition of eight airports, rapid metro system growth, and daily construction of 28 kilometers of highways.

Vice-President of India, Shri Jagdeep Dhankhar, declared Bharat one of the most vibrant global economies and a favoured destination for international investment while delivering the inaugural address at the 2nd Uttar Pradesh International Trade Show 2024 in Greater Noida. He emphasized India’s transition to a near $4 trillion economy with growth prospects of 8% for decades to come, highlighting Uttar Pradesh’s critical role in this transformation.

Shri Dhankhar lauded India’s infrastructure expansion, citing the annual addition of eight airports, rapid metro system growth, and daily construction of 28 kilometers of highways. He also highlighted the creation of 12 new industrial zones, which will boost manufacturing and help India capitalize on emerging technologies such as artificial intelligence, electric mobility, and semiconductors.

"India is now a global happening place, and Uttar Pradesh is bubbling with activity," said the Vice-President. He outlined India’s infrastructure milestones, such as having the world’s second-largest metro network and doubling the number of cities with airports from 70 to 140. He noted that India is the most connected country globally, with over 800 million broadband users.

Discussing India’s strides in digital finance, Shri Dhankhar highlighted that the country records 13 billion digital financial transactions each month, making it the global leader. He further pointed out India’s third-largest startup ecosystem, home to 117 unicorns, and mentioned the country’s third-largest purchasing power globally.

The Vice-President emphasized the growing importance of the semiconductor industry, forecasting its value to surpass $55 billion by 2026. "This industry, critical to our growth, positions Bharat to dominate this century," he added.

He also spoke on the evolution from "Make in India" to "Conceptualize, Design, and Make in India," noting that both multinational corporations and Indian companies are embracing innovation and collaboration in this new era of self-reliance.

Shri Dhankhar’s address reflected Prime Minister Narendra Modi’s vision of 'Atmanirbhar Bharat,' with a focus on taking India’s capabilities from 'Vocal for Local' to 'Local to Global.' The Vice-President described the trade show as the "epicentre" of this movement, showcasing India's achievements across various sectors and propelling further growth.

He praised Uttar Pradesh’s transformation into "Uttam Pradesh" under the leadership of Chief Minister Yogi Adityanath, citing improved law and order as a significant driver of investment and economic progress. "Law and order define democracy, and CM Yogi Adityanath defines law and order!" the Vice-President remarked, acknowledging the state’s remarkable turnaround from its previous challenges.

Shri Dhankhar underscored Uttar Pradesh’s pivotal role in India’s economic growth, stating that the state is emerging as a "growth engine" with its vast resources, fertile land, young workforce, religious tourism, and dynamic ecosystem of Micro, Small, and Medium Enterprises (MSMEs). He expressed confidence in the state’s ability to achieve its target of becoming a $1 trillion economy by 2027, significantly contributing to India’s goal of becoming a $5 trillion economy.

He also commended the inclusion of Vietnam as the Partner Country for the trade show, recognizing the mutual benefits of strengthening cultural and economic ties between the two nations. Vietnam, with its $435 billion GDP, showcases innovative products and practices that are expected to enhance bilateral cooperation and solidify the Global South's influence in international affairs.

The Vice-President reflected on India’s past, noting that a decade ago, the nation was facing economic instability and uncertainty. However, over the past ten years, the country has experienced an unprecedented transformation that has fueled its current economic momentum.

In closing, Shri Dhankhar called for collective efforts to ensure the continued progress of Uttar Pradesh and India as a whole. "Ladies and gentlemen, we are witnessing a new dawn for Uttar Pradesh, a future where our nation stands tall as a global leader in trade, innovation, and cultural heritage," he said.

The event was attended by several dignitaries, including Chief Minister Yogi Adityanath, Minister of MSMEs Shri Jitan Ram Manjhi, and other key government officials. The Vice-President also visited the exhibition at the event premises, which showcased the state’s industrial and cultural strengths.

The Uttar Pradesh International Trade Show 2024 is set to serve as a platform for businesses, innovators, and entrepreneurs to collaborate and drive India’s global trade ambitions, further aligning with Prime Minister Modi’s vision of a developed and self-reliant Bharat by 2047.