There are considerable opportunities for investment in Uttarakhand in the sectors of tourism, biotechnology, renewable energy, film shooting and information technology. Stating this, the Chief Minister Trivendra Singh Rawat invited industrialists to invest in Uttarakhand, while speaking at the eighth Invest North programme in Bengaluru on Thursday. He said that the state government is eager to provide all necessary facilities for investors. Systematic attempts have been made during the past two years to encourage investment in the state, he said.
Rawat said, “Uttarakhand is fast emerging as a major destination for investments. It is one of the fastest growing economies in the nation. The State government has made the various improvements proposed by DPIIT and the World Bank. Uttarakhand is at the top when it comes to business related improvements made by mountain states. Various basic infrastructural schemes have been started to strengthen the basic logistics structure and make business convenient.
The all-weather road project and expansion of the Dehradun airport are also underway. In addition to this, the Amritsar-Kolkata industrial corridor proposed by the Union Government will facilitate better logistics for industries in Uttarakhand and Uttar Pradesh,” said Rawat.
To strengthen industrial development in the state, integrated industrial estates/areas have been developed with international-level infrastructural facilities. Strong law and order system, an industrial electricity rate less compared to other States, availability of quality human resource, cordial labour relations and minimum damage to working days among other aspects are the major factors which have made Uttarakhand a very suitable destination for investment. Rawat referred to the first investors summit ‘Destination Uttarakhand’ held in October 2018, stating that it had attracted more than 4,000 delegates from across the nation and abroad. MoUs amounting to more than Rs 1,24,000 crore were signed with more than 600 investors during the summit. Concrete steps have been taken for execution of these MoUs. In about 10 months after the investors summit, the grounding of investment proposals amounting to more than Rs 17,000 crore has been achieved.
Stating that there is considerable scope for industrialisation in Uttarakhand, Rawat said that the State has identified automobiles, AYUSH and wellness, biotechnology, information technology, tourism, renewable energy and other sectors for this purpose. Special policies have been implemented in order to encourage investments in these sectors. The State is also focusing on such projects which can facilitate employment for residents of mountainous regions and strengthen the local economy.
The chief minister also spoke in detail about the investment opportunities in renewable energy, tourism, film making, information technology and allied services, biotechnology and other sectors. The State’s cabinet minister Satpal Maharaj also expressed his views on the occasion.
