Uttar Pradesh Chief Minister Yogi Adityanath on Monday laid the foundation stone for the IKEA store in Noida.

On the occasion, he remarked that in the past seven and a half years, Uttar Pradesh has gained the confidence of both domestic and international investors, with IKEA India being a key example.

Expressing gratitude for IKEA India’s Rs 5,500 crore investment proposal in the state, the CM noted that Uttar Pradesh has now become the preferred investment destination in India. He further stated that the state has embarked on a new era of growth.

CM Adityanath highlighted the ambitious project by Ingka Centers, which will feature an IKEA retail store, a hotel, office spaces, and a shopping center. This comprehensive development is expected to generate employment for over 9,000 youth, significantly contributing to the state’s economic growth.

Since 2017, Uttar Pradesh has been actively promoting infrastructure development, fostering new investment opportunities, skill development, and promoting traditional products, all of which are now yielding tangible results.

The CM underscored the state’s ODOP (One District One Product) scheme as a pioneering initiative nationwide, and Uttar Pradesh’s leading position in ease of doing business, bolstered by its robust law and order environment.

He said, “Uttar Pradesh, India’s most populous state, currently contributes 9.2 per cent to the nation’s economy. It has emerged as the second-largest state economy in the country and is rapidly advancing as a key driver of India’s development.”

Noting that Uttar Pradesh introduced its industrial development policy in 2017, he stated: “At that time, Prime Minister Narendra Modi emphasised that investment should be linked to employment. The groundbreaking of the IKEA India store directly results from this guidance.”

CM Adityanth highlighted that Uttar Pradesh boasts the country’s largest and most talented youth population. The state’s unemployment rate has decreased over the past seven and a half years.

Uttar Pradesh actively contributes to national development through a sectoral policy covering 27 different sectors. He also mentioned that by the end of this year, the Noida, Greater Noida, and Yamuna Authority areas will be connected to public transport facilities and India’s largest Noida International Airport.

“This region is also crucial for logistics, as it will intersect with the Eastern and Western Dedicated Freight Corridor in Gautam Buddha Nagar district. With its immense potential, Uttar Pradesh offers significant benefits to India and the global community”, he remarked.

Sweden’s Ambassador Jan Thesleff, Uttar Pradesh’s Industrial Development Minister Nand Gopal Gupta ‘Nandi’, MSME Minister Rakesh Sachan, Minister of State for Industrial Development Jaswant Saini, Chief Secretary Manoj Singh, and IKEA India CEO Susanne Pulverer, among others, attended the event.