Come as a Visitor, Stay as an Investor
The state attracted close to 20 mn domestic & Foreign tourists in 2021
Uttarakhand, located at the foothills of the majestic Himalayan mountain ranges, is known for its pristine beauty and breath-taking locales. The state has always been acknowledged as a Tourism hub due to its snow-covered peaks, gushing rivers, verdant valleys, untouched forests & the presence of major religious destinations. The young state has also emerged as one of the major investment destinations for manufacturing in the country, particularly in Automobiles, Pharmaceuticals & Food Processing, due to its business-friendly environment, conducive investment policies and simplified regulations. Therefore, entrepreneurs can leverage particularly lucrative business opportunities in Uttarakhand.
The Gross State Domestic Product (GSDP) of Uttarakhand for 2022-23 (at current prices) is projected to be INR 2,76,677 crore. This is a growth of 9% over the revised estimate of GSDP for 2021-22 (INR 2,53,832 crore). In 2021-22, GSDP is estimated to grow by 8.2% over the previous year (at current prices).
The state offers an unbeatable combination of single-point clearances, competitive land prices in world-class industrial estates, cheap power, clean water, a highly-skilled workforce, good law & order, proximity to the National Capital Region. Also, the state offers its vast consumer base and dedicated Relationship managers for investors to guide them through their investment life cycle; hence, potential investors can do their due diligence and explore rewarding investment opportunities in Uttarakhand. Its world-renowned education system, Wild-life sanctuaries, peaceful & friendly people provide an unmatched quality of life to its residents.
Uttarakhand State has been 100% electrified. A majorly organic State, the 4 Agro-climatic conditions allow the production of off-season vegetables and the State has the highest production of Pear, Peach, Plum, & Apricot in the country.
The State is rich in Limestone and has a huge potential for value added Industries.
As of March 2022, the state had a total installed power generation capacity of 3,950.19 MW. Of this, hydro power accounted for 1,975.89 MW, followed by thermal power at 1,011.26 MW and renewable power at 931.8 MW. Of the total installed power capacity, 1,324.52 MW was under state utilities, 1,656.63 MW under private sector and 969.04 MW under central utilities.
The state also offers tremendous opportunities in Wellness & Tourism sector. In 2020, total tourist arrival in the State was over 39 mn. Wellness is imbibed in Uttarakhand’s culture and it has the potential to emerge as the world’s “Wellness Destination”.
Uttarakhand has been consistently ranked amongst the top states in India by DPIIT in its assessment for ease of doing business. The State’s Investment Promotion Agency (IPA) is adjudged as the “Top Performer” by Invest India, DPIIT, in the rankings for Investment promotion Agencies across 20 States, thereby ensuring the suitability to invest in Uttarakhand. Moreover, Uttarakhand is recognized as an “Achiever” among the Landlocked states by DPIIT in Logistics Ease (LEADS 2022).
World Class Industrial Areas are developed by State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIIDCUL).