Flipkart Group CEO Sees Uttar Pradesh As India’s First Trillion-Dollar State Economy
Flipkart CEO Kalyan Krishnamurthy. (Photographer: Dhiraj Singh/Bloomberg)

Flipkart Group CEO Sees Uttar Pradesh As India’s First Trillion-Dollar State Economy

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Flipkart Group’s Chief Executive Officer Kalyan Krishnamurthy sees Uttar Pradesh as India’s first-trillion-dollar state economy, thanks to Chief Minister Yogi Adityanath's "vision and enabling initiatives (that) will boost investor confidence in the state" as ease of doing business is expected to improve.

"The groundbreaking ceremony will play a key role in propelling Uttar Pradesh as an industrial and innovation hub in the country and help in the state's quest to be India's first trillion-dollar state economy," Krishnamurthy said in Lucknow on Sunday, on the sidelines of an event for the ground-breaking of industrial projects worth around Rs 65,000 crore. The Memoranda of Understanding for these projects were signed during the UP Investors' Summit last year.

"Uttar Pradesh is an important state for us at Flipkart. We not only have many sellers and local MSMEs who are accessing the nationwide market to sell their products more efficiently and in a cost-effective way, but we are also encouraging local handicraft to market their products,” he said. "Thousands of artisans, small businesses and women entrepreneurs are finding their partnership with Flipkart beneficial as they grow and connect with a pan-India market.”

Using home-grown technology and innovation, Flipkart is proud of making a difference in the lives of millions of people, Krishnamurthy said, adding that through Myntra "we are excited to give market access to artisans/weavers across the state".

Krishnamurthy lauded Yogi Adityanath's efforts to partner with the industry to drive inclusive growth in Uttar Pradesh.

"We are looking forward to partner with UP as we bring in the next 200-300 million customers to experience e-commerce and connect lakhs of MSME suppliers, small farmers and farmer-producer organisations to the marketplace, while creating lakhs of new livelihood opportunities," the Flipkart Group CEO added.

Flipkart, which was acquired by Walmart Inc. last year, is equally keen on promoting MSMEs and One-District-One-Product in Uttar Pradesh, its Chief Corporate Affairs Officer Rajneesh Kumar told PTI.

The ODOP project is one of the key initiatives of the Adityanath government that seeks to promote traditional industries synonymous with their respective districts to spur the local economy and create jobs, Kumar said.

During the UP Investor Summit in February 2018, the state government had signed 1,047 initial agreements entailing proposed investment of Rs 4.68 lakh crore by private and public sector companies. The state had in July last year organised the first ground-breaking ceremony to mark launch of industrial proposals worth Rs 60,000 crore. The second took place on Sunday.

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