Strategy to Achieve the Target of $1 Trillion Economy

• 16 Aug 2022

Why in News?

• On August 14, 2022, Dr. Navneet Sehgal, Additional Chief Secretary, MSME informed that a sector-wise strategy has been started to fulfill the target of making the state's economy one trillion dollars.

Key Points

• Under this, 95 products imported into the state have been identified. It has been planned to produce them in the state itself.
• It is worth mentioning that Chief Minister Yogi Adityanath had recently directed the MSME department to mark the products to be imported into the state.
• In the financial year 2021-22, 95 products worth more than Rs 55,000 crore have been imported from the dry ports (connection of port by rail or road transport) of UP. Among these 48 products ranging from Rs 10 thousand crore to Rs 100 crore have been imported.
• Among the top-10 products imported in the state, electrical and electronics products worth Rs 10,200 crore are transformers, generators, mixer grinders, semiconductor chips, processors and memories etc. In second place are fish oil, castor oil, soybean oil and other edible oils worth Rs 6592 crore.
• Nuclear reactors, boilers and machinery used in large plants worth Rs 6315 crore in third place, plastic pallets worth Rs 4906 crore in fourth place and aluminum, iron, steel and copper products worth Rs 2817 crore in fifth place.
• Organic chemicals worth Rs 1592 crore are in sixth place, surgical instruments worth Rs 1590 crore in seventh place, gold and silver jewelery and gems worth Rs 1515 crore in eighth place, paper board worth Rs 1207 crore in ninth place, card board, chemical. Made hard boards and imports of nickel and nickel scrap metals worth Rs 1106 crores are in the tenth place.