UGIS 2023 curtain raiser event : Uttarakhand, under the leadership of Chief Minister Pushkar Singh Dhami, has set an ambitious objective of drawing investments worth Rs 2.5 trillion at an upcoming global business summit scheduled for December.
Chief Minister Dhami unveiled this target during a curtain-raiser event held in Delhi, where he disclosed that investments amounting to Rs 25,000 crore had already been secured ahead of the summit, which is slated to take place in Dehradun.
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In the previous fiscal year (2022-23), Uttarakhand succeeded in attracting investments totaling Rs 12,500 crore. In its pursuit of bolstering the state’s economy, the government has launched the “Strong Uttarakhand Mission,” with the aim of doubling the state’s gross domestic product (GDP) within the next five years. The upcoming summit plays a pivotal role in realizing this economic growth objective, serving as a platform to facilitate such development.
Uttarakhand offers a substantial land bank, providing approximately 6,000 acres of land to potential investors interested in establishing industries across various sectors.
During the curtain-raiser event, ITC, the diversified conglomerate renowned for its involvement in businesses ranging from cigarettes to hotels, proposed an investment of ₹ 5,000 crore in Uttarakhand. Furthermore, the state government entered into a memorandum of understanding with Mahindra Holidays and Resort India for investments worth ₹1,000 crore. Another noteworthy agreement, entailing an investment of ₹1,600 crore, was signed with e-Kuber.
To entice foreign investors, road shows are scheduled to be held in key global financial hubs, including London, Singapore, Taiwan, Dubai, and Abu Dhabi during the months of September and October.
Uttarakhand’s vision for robust economic growth through substantial investments underscores the state’s commitment to creating a favorable business environment and harnessing its considerable potential for development and prosperity. The December business summit represents a pivotal moment in the realization of these aspirations.