Uttar Pradesh, which is looking to become India’s first $trillion economy, is bullish on private investment to achieve the ambitious target.
The Yogi Adityanath government has framed new policies and tweaked existing ones to attract fresh investment across different sectors.
In this context, the UP excise department has netted new investment proposals of over Rs 4,000 crore from private distilleries and alcoholic beverage (alco-bev) players.
At the UP Global Investors Summit (GIS) 2023, the state excise department had signed 135 Memorandums of Understanding (MoUs) totalling Rs 40,000 crore with private companies.
As such, the total investment proposals received by the UP excise department has ballooned to more than Rs 44,000 crore in about two and half years.
Meanwhile, the fresh investment proposals emerged at the recent ‘UP Excise Investors’ Summit’ in Lucknow, which was organised to promote investments in alcohol value chain spanning manufacturing, distribution and marketing.
According to UP excise minister Nitin Agarwal, the Yogi government is promoting export-oriented policies to foster growth.
About 55 excise department projects worth Rs 11,000 crore have so far been launched across the state.
The UP excise revenue jumped from approximately Rs 17,000 crore in 2016–17 to Rs 53,000 crore in 2024–25.
Interestingly, the UP government is targetting over Rs 60,000 crore in excise revenue in the current financial year 2025-26.
The state has also mulling to revisit UP excise policy to promote the export of alcohol-based products.
Since alcohol is produced from sugarcane and other agricultural and horticultural produce including farm residue, the sector directly benefits the rural economy by providing an alternative farm revenue stream.
The International Spirits & Wines Association of India (ISWAI), in its report titled ‘Building Pathways for Future Investments and Growth: Alcoholic Beverage Industry in Uttar Pradesh’, outlined the potential of the alco-bev industry in jobs, revenue, tourism, economic development and catalysing other industrial segments.
The report claimed that over 340,000 farmers directly benefit through the procurement of grains and sugarcane for beverage production in UP.
EOM
UP bullish on private investment
Virendra Singh Rawat
Uttar Pradesh, which is looking to become India’s first $trillion economy, is bullish on private investment to achieve the ambitious target.
The Yogi Adityanath government has framed new policies and tweaked existing ones to attract fresh investment across different sectors.
In this context, the UP excise department has netted new investment proposals of over Rs 4,000 crore from private distilleries and alcoholic beverage (alco-bev) players.
At the UP Global Investors Summit (GIS) 2023, the state excise department had signed 135 Memorandums of Understanding (MoUs) totalling Rs 40,000 crore with private companies.
As such, the total investment proposals received by the UP excise department has ballooned to more than Rs 44,000 crore in about two and half years.
Meanwhile, the fresh investment proposals emerged at the recent ‘UP Excise Investors’ Summit’ in Lucknow, which was organised to promote investments in alcohol value chain spanning manufacturing, distribution and marketing.
According to UP excise minister Nitin Agarwal, the Yogi government is promoting export-oriented policies to foster growth.
About 55 excise department projects worth Rs 11,000 crore have so far been launched across the state.
The UP excise revenue jumped from approximately Rs 17,000 crore in 2016–17 to Rs 53,000 crore in 2024–25.
Interestingly, the UP government is targetting over Rs 60,000 crore in excise revenue in the current financial year 2025-26.
The state has also mulling to revisit UP excise policy to promote the export of alcohol-based products.
Since alcohol is produced from sugarcane and other agricultural and horticultural produce including farm residue, the sector directly benefits the rural economy by providing an alternative farm revenue stream.
The International Spirits & Wines Association of India (ISWAI), in its report titled ‘Building Pathways for Future Investments and Growth: Alcoholic Beverage Industry in Uttar Pradesh’, outlined the potential of the alco-bev industry in jobs, revenue, tourism, economic development and catalysing other industrial segments.
The report claimed that over 340,000 farmers directly benefit through the procurement of grains and sugarcane for beverage production in UP.