Agriculture, industry, and tourism can boost economy to $1 trillion in scale: Tata Sons Chairman

Uttar Pradesh can become a $1 trillion economy by boosting advanced manufacturing, agriculture and tourism, Tata Sons Chairman N Chandrasekaran said at the opening session of the UP Global Investors Summit 2023 on Friday.

According to him, India is uniquely positioned in the global transition to artificial intelligence, new energy and supply chain. India's adoption of AI has been unique, he said, adding that the country is also moving towards self-sufficiency by seizing the opportunities of the energy transition. India is on the cusp of a supply chain transformation that will be led by domestic manufacturing in strategic sectors, Chandra added.

UP is the third-largest state in the country. It is currently well positioned to capitalize on the trends and become a $1 trillion economy. It will become a $2 trillion economy when India becomes a $2 trillion economy. As the largest producer of oil seeds and among the top three producers of wheat, vegetables and pulses, UP has a great opportunity to realize greater economic transformation, the Tata Sons chairman said.

The larger than average cultivated area is expected to work in UP's favor, he added. UP has an opportunity to improve its manufacturing share by focusing on advanced manufacturing such as semiconductors, Chandra said.

Tourism represents another opportunity for the state, with 5 million tourists a year from abroad. Its UNESCO World Heritage sites and religious destinations can attract more tourism, he added. These three areas can address aspirations with respect to employment, quality of life and per capita income.

The Tata Group has a long history with the state, for example in steel, automobiles and TCS. We look forward to inaugurating a multi-modal cargo airport at Jewar, in UP with Zurich Asia Airport, said Tata Sons chairman.