Dehradun: Uttarakhand has attracted investments since its formation for its unique mark on driving economic growth for the country as a whole. Be it tourism, pharmaceuticals, automobiles, entertainment and film industry, food processing or medicinal sector, Uttarakhand has contributed to the well-being of a larger society. Uttarakhand, the state known for the natural environment of the Himalayas, the Bhabar and the Terai regions has blossomed business opportunities for the pharma, chemical, biotech, manufacturing, energy and renewable energy sectors
Uttarakhand’s government’s collaborative approach and shared value proposition has helped attracted big conglomerates such as Nestle, Pepsi, Hindustan Unilever, ITC Limited, HP, Mahindra, Adani, Patanjali, Heromoto Corp, TATA Motors, M & M, C & S Electric Co, and Godrej.
The summit we need
Earlier in 2018, the first Investor’s Summit was organised by the state in which more than 600 MOUs were signed and investments amounting to 1.24 lakh crore were promised. As per govt officials these MOUs were signed in manufacturing, food processing, health services, tourism, and energy.
CM Dhami minces no words
On Spetember 7, 2022, while addressing the investors at an event, Uttarakhand Chief Minister Pushkar Singh Dhami said, “We are moving forward with the mantra of ‘reform, perform and transform’, and have focused on policy stability, coordination and ease of doing business.” The state government felicitated 67 big and small industrialists who have started manufacturing unit in the state in the last two years. As per reports, 24 MSME sector and 43 from larger units were felicitated at the event.
The state’s chief minister also stressed on the point that Uttarakhand the land of yoga, spirituality and Ayush, but it is now also moving towards industrial development. While reiterating the significance of for investments in the state, chief minister Dhami called investors Uttarakhand’s new brand ambassadors.
During the Uttarakhand Investors’ Felicitation 2022, while outling major contributions played by the investors, MSME secretary Dr Pankaj Kumar Pandey congratulated the investors community and welcome them with open hearts and minds for future expansion in Uttarakhand. Commneting on the subject at Uttarakhand Investors’ Felicitation summit, he also added that the Uttarakhand government under the able leadership of Pushkar Singh Dhami Ji is rolling out new policies. The new plans will work in achieveing larger objectives towards Prime Minister’s vision creating a ‘Gati Shakti’ plan.
Highlighting the Central government’s achievements, Industries Minister Shri Chandan Ram Das said that the Investor Summit was organized in 2018 under the leadership of Prime Minister Shri Narendra Modi which delivered tremendous success results. He further added that small scale industries will have to be promoted in the hilly areas of the state for accelerating growth rate in the state.
While commenting on the achievements of the state government, Cabinet Minister Shri Ganesh Joshi said that the state has become major destination for investment which can turn into more production and employment with less capital investment. He also noted that the state is moving forward towards PM Moid’s self-reliant vision of India.
According to reports from the industries department, more than 600 projects in Uttarakhand have received investments worth Rs 35,000 crore, and the state government led by Pushkar Singh Dhami has pledged to generate 89,000 jobs in the future.
To drive such growth, there are following key factors which played a bigger role in this.
1.) Ease of doing business.
2.) Good law and order situation, transparent land allotment and land availability.
3.) Home to tourism and AYUSH.
4.) Fiscal and non-fiscal incentives.
5.) Availability of cheap and reliable power due to hydropower industry.
6.) Great infrastructure and pollution free environment.
Uttarakhand emotional (Hub for religious places) and manufacturing sector connect
It’s interesting to that Uttarakhand is a prime tourists’ hub due to its proximity to the national capital and other major factors such as snow-covered peaks, gushing rivers, verdant valleys and religious places which has helped business community small and large to leverage lucrative business opportunities in Uttarakhand.
All the way up
The Gross State Domestic Product (GSDP) of Uttarakhand for 2021-22 (at current prices) is projected to be Rs 2,78,006 crore, which is 5 percent above the last fiscal year. The state also recorded $1.8 billion worth of exports in 2021-22.
Multi-pronged strategy
State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIIDCUL) is playing a major part in driving physical & social infrastructure to investors, promote inclusive & sustainable industrialization in the state. It not only provides necessary infrastructure but also give investor-friendly & transparent mechanism which is good for the corporates and consumers.
Over the years, SIIDCUL is committed in its effort to provide world-class infrastructure facilities. It has developed seven Integrated Industrial Estates at Pantnagar, Haridwar, Dehradun, Selaqui, Kotdwar, Sitarganj and Kashipur.
To mention a few, there are sea of investment opportunities in Uttarakhand:
1.) Transport sector: 6849 opportunities worth USD 787.1 billion
2.) Water & Sanitation sector: 2489 opportunities worth USD 282.69 billion
3.) Social Infrastructure sector: 2259 opportunities worth USD 266.98 billion
4.) Energy sector: 1403 opportunities worth USD 391.53 billion
5.) Logistics sector: 1306 opportunities worth USD 57.57 billion
6.) Real estate sector: 1272 Opportunities worth USD 11.37 billion
7.) Materials: 1040 opportunities worth USD 4.55 billion
8.) Commercial infrastructure: 826 opportunities worth USD 93.26 billion
9.) CSR: 793 opportunities worth USD 72.65 million
10.) Manufacturing sector: 593 opportunities worth USD 555.7 million
11.) Tourism sector: 406 opportunities worth USD 1.69 million
12.) Food processing and agriculture sector: 389 opportunities worth USD 443.66 million
Majot boost for Start-ups
Bharat Pitchathon is an initiative by Headstart Network foundation in collaboration with Startup Uttarakhand that will help provide networking ecosystem and startup acceleration. As of now, Bharat Pitchathon has almost network of over 20 plus investment partners, 20 incubation partners and 30 city-level chapters.
