On Tuesday, the Uttar Pradesh government decided to let the Deloitte India climb in as a consultant with the future plans to push the state’s economy to USD 1 trillion mark.
The involvement in this decision was of high power committee headed by Chief Minister Yogi Adityanath which later recommend the taken decision of appointment.
This is apparent that the step is to seek the dream of Prime Minister’s resolution to make India a USD 5 trillion economy. And in order to progress towards, the contribution of the state is necessary.
The plan to manage the progress is prepared according to the various sectors emphasized. The action plan will soon be implemented by state machinery.
As was said, that the need of services of consultants was felt. And for that matter the selection process was duly followed to board Deloitte.
About deloitte: the firm entered India in 1998, and by then has increased the scope in Delhi, Bangalore, Mumbai, and Hyderabad. On January 2021, Punit Renjen who began his second term at the global helm of Deloitte in 2020 explained the firm’s macro view to expand India’s positioning to wider attitudes in global business environment.
Despite the widespread economic impact of covid-19 since then and particularly on the advisory sector, Renjen in 2021 indicated a robust growth drive in near future.
The question arises, Why Uttar Pradesh will become a trillion dollar economy? About five years ago, chief minister Yogi Adityanath steered Uttar Pradesh forward with prime minister Modi’s five P’S (potential, policy, planning, performance, and progress) vision. Despite the odds of global pandemic, the state ensured a commendable flow in ease of doing business, investment, manufacturing and exports, unprecedented progress in employment, production and procurement in agriculture and allied sectors, infrastructures and connectivity and tourism and dedicated development to attract religious pilgrimages.
This has shown the evidence of Uttar Pradesh being largest market volume inside the country. It also signifies new dimensions in economy which will perhaps help in bring cumulative quantitative growth in the economy. Another benefit would be the largest man-power that exists in the state. This substantiate the issue of having maximum demographic potential.