Uttarakhand’s maiden investors summit gets positive response

Uttarakhand held its first-ever investors summit ‘Destination Uttarakhand: Investors Summit 2018’ in Dehradun. The summit held for two days between 7-8 October 2018 was inaugurated by Prime Minister Narendra Modi.

The state which showcased scope of growth in sectors such as manufacturing, tourism and wellness, food processing, offered investment opportunities and incentives across the 12 focus sectors ranging from automobile, tourism and hospitality, natural fibres, pharmaceuticals, information technology, food processing, herbs and aromatics, horticulture and floriculture, film shooting, renewable energy, wellness & AYUSH and Biotechnology. Over 1,500 Indian and foreign investors attended the summit.

A total of 601 memorandums of understanding (MoUs) worth Rs 1,20,150 crore investment were inked between various enterprises and the state government during the two-day summit. These projects will help the state reach its development goals by 2025 when the state will mark the silver jubilee of its creation.

The event saw huge investment across the manufacturing and tourism sector. While the Adani Group announced an investment of Rs 6,500 crore, Patanjali Ayurved on the other hand plans to pour Rs 2,500 crore. Adani Group intends to invest Rs 5,000 crore in a Metro project, Rs 1,000 crore in a transmission project, and Rs 500 crore for a logistics park. The company also inked an MoU for distribution of organic food.

Patanjali Ayurved, another major company which has big investment plans for the state in education, food processing, and in wellness, among other areas. Chintamani Agrotech (India) has also drawn plans for modernisation of sugar projects worth Rs 2,500 crore. Employment opportunities will be created for 700 people.

While Singhal Spintex has pledged an investment Rs 1,721.17 crore towards manufacturing unity of cotton yarn, Ramky Infrastructure will set up a multi-product industrial park worth Rs 1,000 crore, thus creating jobs for 2,000 people.

Amul, the milk co-operative, has announced plans to assist farmers in the state for higher milk production and in this regards it has signed an MoU to promote co-operative dairy.

Under tourism sector, Rajas Aerosports and Adventures and the Sara Group of Companies made huge investment announcements. Rajas Aerosports and Adventures will infuse Rs 2,020 crore investment in ropeway, aero-adventure facility park, heli-safaris, cafeteria, etc projects. Sara Group of Companies made announcement to invest Rs 230 crore towards its hotel expansion business.

Moreover, promoting government’s initiative towards going green, announcements were made in e-vehicles segments too. ANI Technologies intends to set up an e-vehicle unit at an investment of Rs 150 crore, creating employment for 3,500 people.

As per data compiled by Projects Today, a total of 1,328 projects with an investment worth over Rs 1.16 lakh crore are in projex funnel as of 30 September 2018. Of these, 1,023 projects worth Rs 82,940 crore is in planning while 305 projects entailing an investment of Rs 33,245 crore are under various stages of execution. Once these projects are completed it will not only boost industrial climate and tourism in the state but will also create employment opportunities for many.