UP teeming with talented young people: President

New Delhi: While addressing the concluding session of the UP Investors Summit 2018 on Thursday, President Ram Nath Kovind said that Uttar Pradesh is a state teeming with talented young people.

"The state comprises one of the largest workforces, as well as consumer markets, not only in India but anywhere in the world. It is home to some of India's finest institutions of higher education, such as IIT Kanpur, IIM Lucknow, Banaras Hindu University, Allahabad University and so many others, which gives a base to the state to become an economic powerhouse," the President said.

The availability of such a pool of talent in the state makes Uttar Pradesh an irresistible destination for investors, the President stressed.

The President further stated that the recent period has been one of enormous economic changes for India – of soaring aspirations and achievements.

"The introduction of the GST has been a milestone. It has broken down barriers between states and provided a boost to the creation of a common market and a more formal economy," the President said the summit.

"The opening of more and more sectors to greater private and global investment has also drawn appreciation. As a consequence of this, there has been a sharp rise in FDI in the past three years – from US$ 36 billion in 2013-14 to US$ 60 billion in 2016-17," the President said.