Lucknow: The Samajwadi Party (SP) has slammed the Yogi Adityanath-led Uttar Pradesh government over claims on transforming the state a $1 trillion economy in the next four years.
Taking to X (earlier Twitter), SP chief Akhilesh Yadav alleged that the Bharatiya Janata Party (BJP) is only capable of '1 trillion lies' and nothing else.
His statement comes in the wake of the recently held World Economic Forum (WEF) 2025 in Davos where the UP government showcased its vision to transform the state into a $1 trillion economy. The state’s pavilion highlighted its economic potential and investment opportunities across various sectors.
“This ($1 trillion economy) is impossible as per current ‘growth rate’. That is why this is a ‘big lie’. Corruption has corroded government treasury, investment has not materialised, farmers-traders-businessmen-industrialists everyone is worried about their work. Unemployment is scripting new chapters of poverty in UP. If people do not have money, where will the purchasing power come from? If workers are migrating, where will the labour resources come from?,” tweeted Yadav.
The SP chief further raised concerns over alleged inflation, income gaps, rising unemployment among the youth, expenditure towards education and healthcare and survival of shops and businesses. “Today everyone is saying, we don’t want BJP!” he stated.
UP Govt Bags Key Investments At WEF 2025
Reportedly, at the WEF 2025 meeting held from January 20-24 in Davos, a 12-member delegation from UP led by State Chief Secretary Manoj Singh, engaged in key discussions with global investors and industry leaders, and sought significant investments to propel UP’s economic growth and achieve the target of $1 trillion GDP.
Besides intent of Rs 20,000 crore at the World Economic Forum, the government signed MoUs worth Rs 19,400 crore to attract high-value investments and drive innovation in the energy and technology sectors in the state.
The delegation secured significant business investments like Rs 6000 crore by AM Greens for setting up Sustainable Aviation Fuel manufacturing plant in Shahjahanpur, Rs 6000 crore by Loftus lane for setting up hyperscale data centres, Rs 2500 crore investment towards setting up two bottling plants of Coca Cola through Moon Beverages & SLMG Beverages, Rs 1500 crore and Rs 1000 crore respectively by Heineken and Ab InBev for setting up distillery plants in UP.
This apart, the delegation also held discussion with Aman Mehra, Head of Strategy at Sify Technologies. “Sify's 75MW data centre in Noida, established with an investment of Rs 7000 crore, is almost ready for operations. Sify is also setting up an Artificial Intelligence Hub in Lucknow’s Chak Ganjaria IT City with an investment of Rs 1000 crore,” stated Sify spokesperson.
In addition to these ongoing projects, Sify is reportedly exploring opportunities to establish a hyperscale data centre over 150-200 acre of land.
The UP government also signed an MoU with Lords Mark Industries for solar and wind energy projects. “An important MoU was signed with Sachidanand Vyas, Managing Director of Lords Mark Industries, with the UP govt to set up a 300 MW solar plant and a rooftop wind energy turbine in UP, involving an investment of Rs 1,200 crore,” LMI spokesperson said.
