No man is going to make a great leader who wants to do it all himself or get all the credit for it – Andrew Carnegie
In this issue we take a look at Uttar Pradesh, a state that has seen an amazing turnaround in the last four years – not only in terms of its fortunes but also in terms of overall governance. The result has been a tremendous response from investors who have placed their faith in the UP administration, even during the long gloomy mood that has gripped the country and the world since January 2020.
The state has developed into an industrial location in the last four years. Investments of Rs. 4.68 crore were poured in during the Investors Summit in 2018, where new projects worth Rs. 3 crore were announced for the following two years. At the same time, UP remained committed to the welfare of the agricultural sector and farming community. The UP government has forgiven Rs 36,000 crore of agricultural debt.
Uttar Pradesh has taken concrete steps to create jobs and boost the economy. In a candid conversation with me, Prime Minister Yogi Adityanath speaks about his determination to achieve a trillion dollar economy as part of India’s mission to reach $5 trillion GDP. He talks about his mantra to attract investment and talks about actions taken for the benefit of the people of UP. Read all about UP’s fascinating resurgence in our cover feature.
In our second feature, we take an in-depth look at the green shoots in the otherwise sluggish real estate sector. The residential real estate segment is experiencing a resurgence thanks to pent-up demand from first-time owners. The latest GDP data shows that the construction sector grew by 6.2 percent between October and December 2020. The acceleration in the construction sector also buoyed steel consumption and gave a boost to employment as the economy unfolded. The housing market, a key steel consumer, saw a gradual rebound from the lows of the first quarter of fiscal 2020-21. New home supply and sales showed significant improvement in the final quarter of 2020, buoyed by economic recovery, government initiatives and increased market confidence. But will the trend reversal become a boom, we wonder?
In addition, we have our regular columns and reviews that you all look forward to. The final word goes to World Chess Champion Viswanathan Anand, who talks about life during the pandemic and the digital transformation of chess. I hope you enjoy reading this issue. Feedback on all aspects of the magazine is always welcome.