Uttar Pradesh Switch to Hindi
FDI in UP Shows Significant Growth
Why in News?
Foreign Direct Investment (FDI) in Uttar Pradesh (UP) has surged significantly in recent years, with the state government reporting significant growth between 2019 and 2023.
Key Points
- Historical Challenges: Historically, UP struggled with a poor industrial ecosystem that discouraged foreign investors. A combination of factors contributed to this unfavorable environment, including:
- Low rankings in ease of doing business
- Absence of a streamlined single-window clearance system
- Insufficient basic infrastructure
- Unclear industrial policies
- Unstable law and order conditions
- Shift in FDI Trends: From 2000 to 2017, Uttar Pradesh's FDI was limited to only Rs 3,000 crore, but it has surged in recent years.
- Uttar Pradesh is now the 11th most attractive state for FDI, with a total inflow of $1.7 billion from October 2019 to September 2024.
- The state ranks first in India for the export of consumer electronics, hosting 196 Electronics System Design and Manufacturing (ESDM) companies currently operating within its borders.
- Key Policy Reforms:
- The UP Investors Summit 2018 set the stage for the state’s investment-friendly initiatives.
- The summit attracted investment proposals worth Rs 4.28 lakh crore.
- Building on this success, the Global Investors Summit (GIS) in 2023 drew Rs 33.50 lakh crore in investment proposals.
- Uttar Pradesh Foreign Direct Investment (FDI) Fortune Global 500 & Fortune India 500 Companies' Investment Promotion Policy-2023
- Uttar Pradesh Industrial Investment and Employment Promotion Policy 2022
- Uttar Pradesh Green Hydrogen Policy 2024
- Uttar Pradesh Global Capability Centres Policy 2024
- The UP Investors Summit 2018 set the stage for the state’s investment-friendly initiatives.
- Project Implementation: The UP government introduced the concept of Groundbreaking Ceremonies (GBCs).
- These events serve as a platform for launching large-scale investment projects statewide, with over 16,000 projects initiated across the first four GBCs, more than 8,000 of which are already operational.
- For the upcoming GBC-5, the state government is targeting the grounding of projects worth Rs 5 lakh crore, with the potential to scale up to Rs 10 lakh crore by the event's date.
- The bulk of the investment has flowed into the manufacturing, services, and infrastructure sectors, with the manufacturing sector receiving the largest share at 62.25% of the total investment.
- These events serve as a platform for launching large-scale investment projects statewide, with over 16,000 projects initiated across the first four GBCs, more than 8,000 of which are already operational.
Uttar Pradesh Switch to Hindi
UP Economic Offences Wing Revamped
Why in News?
The Uttar Pradesh Economic Offences Wing (EOW) has undergone significant restructuring to enhance its capabilities, taking inspiration from the Central Bureau of Investigation (CBI).
- The new measures focus on adopting advanced technological tools, accelerating investigations, and improving public accessibility to report financial crimes.
Key Reforms and Measures
- Enhanced Public Access: A major reform allows citizens easy access to report financial crimes.
- The state’s emergency helpline, 112, has been integrated with EOW to enable the public to report cases such as Ponzi scheme fraud, Stamp fraud, Multi-marketing fraud, etc.
- Professional Expertise and Training: The EOW aims to become a robust and trusted institution for both enforcement and public outreach.
- To enhance the professionalism of its officers, a day-long workshop was organized with experts from agencies like the CBI, Enforcement Directorate, and other central agencies.
- The focus of the workshop was to educate on various forms of financial crimes, address investigation nuances, and tackle emerging challenges in financial crime enforcement.
- Public Awareness and Education: A core part of EOW’s strategy is public awareness.
- The agency has created eight animated booklets in both digital and print formats to educate citizens about various financial crimes they may encounter and how to stay vigilant and protected.
- A short film on financial crime prevention was also launched to engage the public, along with a new EOW logo.
- Technological Upgrades: The EOW is now equipped with cutting-edge tools to streamline operations, including 24x7 Case Management Software (CMS) for real-time case monitoring and faster resolution.
Economic Offences Wing (EOW)
- The Economic Offences Wing (EOW) was created in 1970 within the CID to address economic crimes, with an expanded focus in 1972 to include offenses related to 10 government departments.
- In 1977, EOW was restructured as a separate, specialized investigation branch of the Uttar Pradesh Police.
- In 2006, the EOW's jurisdiction was further broadened to include the investigation and inquiry of economic offenses across all government departments.
- In 2018, the government established four police stations within EOW sectors in Lucknow, Varanasi, Meerut, and Kanpur.
- The EOW is led by the D.G. EOW, with its headquarters in Lucknow, is divided into five sectors, each managed by an officer of SP rank.