UPITS: A major leap from local to global

Economists believe that trade is one of the most reliable tools for eradicating poverty because it opens up numerous avenues of opportunity. 

By- Sudhir J. Kumar 

Now that UP International Trade Show (UPITS), underway in Greater Noida has completed three days, it is also important to discuss the thinking behind it. This is because, to understand a state's economic rise, it is sometimes more important to grasp the idea that eventually translates into figures than to look only at the figures. This idea rests on the premise that an economy cannot be considered bigger merely based on production volume. An economy moves towards broad-based expansion when the distance between local market and global market begins to narrow. An economy grows in size when a state begins to consider itself a partner in the world economy.

Uttar Pradesh is at precisely such an ideological turning point today. The goal of becoming a one trillion dollar economy that the state has set for itself is based on the idea that development will no longer flow only from the center to the periphery, but also from the periphery to the center. Products from villages and small towns will no longer remain confined to the markets of Delhi and Mumbai, but will engage with markets in Singapore, Tokyo and Moscow. UPITS is the practical manifestation of this idea and that is why it should be viewed as a major symbol of the change taking place in economic consciousness.

Most important aspect of the concept of a one trillion dollar economy is that this target cannot be achieved through government investment or the capital of large industrial houses alone. Its foundation lies in the millions of small and medium enterprises spread across every district of the state. Moradabad's brass, Bhadohi's carpets, Kannauj's perfume, Firozabad's bangles, Varanasi's sarees. These are all local skills and, until a decade ago, appeared to remain confined within the boundaries of local identity. The important point is that these skills have existed here for centuries. Still, efforts to connect them with global standards, global packaging, global demand and global technology began under the Yogi government. The B2B (Business to Business) meetings held at UPITS are now reflecting meaningful results of this effort.

Let us look at the figures from the trade show underway in Greater Noida. On the second day of the trade show, 4,700 B2B meetings were held, 412 agreements were signed and a pathway to business worth 54.2 million dollars was opened. On the first day, around 500 MSMEs from the state participated in more than 2,800 meetings, generating business inquiries worth approximately Rs. 140 crore.

These figures are not merely numbers. Viewed through the lens of a one-trillion-dollar economy, this is the first step on which Uttar Pradesh is placing its foot in its effort to achieve this goal.

Economists believe that trade is one of the most reliable tools for eradicating poverty because it opens up numerous avenues of opportunity. Chief Minister Yogi Adityanath's economic vision corresponds with this thinking, which is now beginning to emerge as a foundation of confidence.

For decades, Uttar Pradesh was viewed on the investment map as a state where possibilities were immense, but efforts to realize them were negligible. Therefore, gaining global confidence was the first essential condition for the state. Singaporean companies coming forward for cargo facilities, logistics parks, cold storage and MRO activities at Noida International Airport, discussions with Vietnam on electronics and textiles, possibilities with Russia in defence, pharma and medical devices, discussions with Belarus on machinery and wood technology and expectations of cooperation with Japan in the EV sector- all these developments reflect one sentiment: the world is now beginning to regard Uttar Pradesh not as a possibility, but as a partner. UPITS has brought this changing confidence together on one platform, where an open forum for bilateral discussions has been created.

More facts deserve attention. Projects such as proposed Pharma Park in Bundelkhand, Bulk Drug Park in Lalitpur, Medical Device Park near Noida and Defence Manufacturing Corridor appear to be changing the industrial character of the state. The message is also clear: Uttar Pradesh now wants to move towards industries involving high technology, research, and global partnerships. Traditional clusters such as the wood industries of Saharanpur and Bijnor are also now on the threshold of being connected with modern technology. The entire framework of a one trillion dollar economy has to rest on this balance. This means that tradition and technology, local skills and global standards, small entrepreneurs and large companies must move forward together.

In this context, the significance of the state's population of 25 crore also needs to be re-established in a new way. There is a need to change the way of thinking. This population is not merely a group of consumers. It is the state's largest workforce, its largest pool of skills and is now emerging as an entrepreneurial force. This new thinking centers on production and innovation. UPITS's significance lies in accelerating this entire process. Therefore, B2B meetings held at UPITS are links in future economic relationships.

The true meaning of globalization has never been to erase local identity, but to connect local potential with global opportunities. Uttar Pradesh has a diversity of products, the strength of agriculture, young human resources and a rapidly expanding industrial base. All that was needed was to weave a vibrant network among all these elements, through which even a small entrepreneur from the state could directly engage with any major market in the world. Yogi government has made this possible.

UPITS is a bridge connecting Uttar Pradesh's products, services, exporters and MSMEs with the global market. Indian manufacturers, exporters, MSMEs, investors, global buyers and delegations from partner countries are present here. Government's concept of ‘Local to Global’ is taking concrete shape here and that is the real success of this trade show. UPITS is also a clear response to those who question the potential of Uttar Pradesh.
 

(Sudhir J. Kumar is a Editor at the Wildlife Today. The views expressed in this article are those of the author and do not necessarily reflect those of Zee News.)

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