Uttarakhand receives investment proposals worth whopping Rs 74,000 crore

Investment proposals worth Rs 74,000 crore have been received by the Uttarakhand government and memorandum of understanding (MoUs) to the tune of Rs 60,000 crore signed with firms ahead of an investors’ summit to be held here next month, Chief Minister Trivendra Singh Rawat said Friday. Attributing the huge volume of investments coming to the state to a sustained campaign conducted by his government to generate interest among entrepreneurs, the chief minister said it was much more than what was initially expected.
“MoUs worth Rs 40,000 crore only were expected initially but the road shows held by the state government in the run up to the forthcoming investors’ summit elicited a great response from entrepreneurs. The result is that till now investment proposals worth Rs 74,000 crore in the state have been received and MoUs to the tune of Rs 60,000 crore have been signed,” Rawat said at a programme to unveil nine policies prepared by different departments to boost investments in the state.
“Destination Uttarakhand: Investors Summit 2018”, to be held here on October 7-8, will herald the beginning of a new era for the state in terms of investments, he said. Describing the development of hill areas as the priority of the state government, he said investments in solar energy, food processing, herbal, organic, Ayush and tourism sectors in which entrepreneurs have shown great interest will primarily benefit the people of hill areas.
The nine policies unveiled Friday to encourage investments include Mega Industrial Investment & Employment Promotion Policy 2018, Uttarakhand Solar Energy Policy, Uttarakhand Ayush Policy 2018, Biotechnology Policy 2018-23, Power Generation from Pirul and other types of Biomass Policy-2018, Uttarakhand Aroma Policy 2018, for establishment of Optical Fiber and Mobile Tower Guidelines Policy, Uttarakhand Electric Vehicle Manufacturing E.V.
Usage Promotion and Related Services Infrastructure Policy 2018 and Uttarakhand Tourism Policy 2018. Local people will be given projects up to 5 MW on priority as per Uttarakhand Solar Energy policy.
Power Generation from Pirul and other types of Biomass Policy-2018 will be important for the livelihood of people of hill areas, Rawat said. The chief minister said the policies were formulated incorporating suggestions made by entrepreneurs and business leaders at the road shows and after an in-depth study of the investment promotion policies of other states.