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The Government of Uttar Pradesh has set a target of getting to US one Trillion Gross State Domestic Product by 2026-27, from their estimated level of a GDP of close to US$ 250 billion in 2021-22. Reaching of milestone would require the State to accelerate its gross in excess of 30 per cent per annum in next five years. All the Districts of the State may need to equally contribute to this aspiration by quadrupling their GDP during this period.
It in this context, Meerut Citizens' Forum (MCF) and Federation of Indian Micro and Small & Medium Enterprises (FISME) decided to entrust a study to identify the current status of economy of Meerut and the way forward to achieve this milestone.
In the process of completing the study, based on a preliminary data analysis, a Meeting was held in Meerut in the august presence of Shri Rajendra Agrawal, Hon'ble Member of Parliament of Meerut, Shri Amit Agarwal, Hon'ble Member UP State Assembly and a group of knowledgeable persons from Administration, Industry, Trade and Professionals to identify the approach and further agenda. A virtual cum physical meeting was later held in Delhi which outlined the broad approach of the Study.
The first of its kind study in the State, and perhaps the first in India conducted by civil society institutions, it delved into the multifaceted aspects of Meerut's economy, aiming to provide a comprehensive analysis of its existing and potential growth drivers, employment landscape, informality quotient, governance structures, and the outreach of government schemes. Moreover, it has sought to offer a ground-level perspective that captures the nuanced realities of Meerut's economic ecosystem.
Meerut's economic landscape is a tapestry woven with the threads of tradition and modernity. It encompasses 14 major manufacturing and 6 services clusters. As we explored the city's economic foundations, we tried to identify the key factors that fueled its growth and continue to shape its trajectory especially the informal economy.
In addition to analyzing economic factors, this study reviewed the governance and administrative institutions that play a pivotal role in Meerut's development. This includes a critical assessment of the functioning of key institutions, such as the police and judiciary, in maintaining law and order and ensuring access to justice. The study did not shy away from suggesting much-needed reforms including administration, governance, the economic ecosystem, and factor markets such as finance, land, and labor. These recommendations are grounded in a deep understanding of Meerut's unique context and challenges.
In conclusion, this study has pragmatically looked at the potential of quadrupling GDP of Meerut in four years and has found that a set of reforms and following through on investment commitments could indeed make it possible.