UP Excise Department to Boost Investments with Summit

The Uttar Pradesh Excise Department is set to boost investments with the upcoming 'Excise Investors Summit' in Lucknow, according to the state's excise and prohibition minister, Nitin Agrawal. The summit aims to attract fresh investments and facilitate capital infusion in existing projects while addressing various bottlenecks.

During the summit, the department plans to act as a liaison between investors and Invest UP, an investment promotion and facilitation agency backed by the UP government. Agrawal highlighted the receipt of 142 proposals for alcohol-based industries over recent years and signing 135 MoUs, amounting to an investment of Rs 39,479.39 crore.

Additionally, the department has increased revenue significantly, with a projected rise from Rs 14,273 crore in 2016-17 to Rs 52,573.07 crore in 2024-25. Nearly all of this revenue supports development and welfare schemes. Agrawal also noted the department's exceptional performance in meeting revenue targets in early 2025-26.

(With inputs from agencies.)