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MoUs worth Rs 70,000 crore signed at Uttarakhand Investors Summit

October 9, 2018

Uttarakhand has received MoUs worth ₹70,000 crore to develop the hill areas in the state, said state Chief Minister Trivendra Singh Rawat during the Uttarakhand Investors Summit in Dehradun. The summit was inaugurated by Prime Minister Narendra Modi.  

Addressing the crowd at the two-day summit, the Chief Minister said,

“Investment proposals worth over Rs 70,000 crore have been received and most of the memorandum of understandings have been signed with an aim to reach development to the state's hilly areas.’’

Leading industrial groups such as Reliance Industries, Mahindra Group, ITC, JSW Group, Adani Group and Patanjali were present at the summit.

Among the investment proposals, the Adani Group has committed the largest sum of Rs 6,500 crore. The group plans to invest Rs 5,000 crore in a metro rail project and Rs 1,000 crore to upgrade power transmission. It will also create a logistics park at Rs 500 crore.

"We see tremendous potential in Uttarakhand. Its economy has grown at a rate of 11 percent in the last fiscal year. We have also signed an MoU in the area of farm production,” Pranav Adani, Director, Adani Enterprises said.

The state government has identified 12 sectors for focused investments. These include wellness and AYUSH, pharmaceuticals, information technology, horticulture and floriculture, natural fibres, tourism and hospitality, film shooting, biotechnology, renewable energy, food processing and automobile.

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