‘Uttarakhand’s stable political environment advantage for businesses’

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Uttarakhand Finance Minister Mr Prakash Pant

Uttarakhand government participated in the 6th edition of CII Invest North 2017–held in Mumbai. The one of its kind event connects businesses across sectors with the northern states of India. In a special plenary session, Uttarakhand Finance Minister Mr Prakash Pant said that the state’s stable local political environment facilitates businesses and is one of its key merits. Highlighting its geographical location, he said that Uttarakhand sharing borders with several Northern states also works to its advantage.

Hailing the efforts of Government of India towards Ease of Doing Business, the Mr. Pant said that EODB is on the top of the state government’s agenda and it is working towards improving on the parameters. Talking about the progress in various sectors, Mr. Pant said the government will connect with industrialists to promote health services in the state. The state government is also mulling options to promote medical tourism and has already started telemedicine and tele-radiology services.

Detailing the finer points on Uttarakhand’s efforts towards EODB, Principal Secretary of Industries Manisha Panwar said, “Uttarakhand has made commendable progress in the last two years on the ‘Ease of Doing Business’ index. We jumped from rank 23rd to 9th and are 1st among the hill states. We have formulated over 340 action reform points which include online systems, labour reforms, facilitating clearances, setting time frames and providing single window clearances to MSMEs and large industries.”

Encouraging investors to explore investment opportunities in Uttarakhand, she said, “The state government is keen to provide time bound approvals to investors and thus, creating a favourable investor ecosystem. We also have 79% literacy rate, an increasing skilled workforce and a portal to comply with investors’ requirements.”

Managing Director, SIIDCUL and Director of Industries, Government of Uttarakhand Dr R Rajesh Kumar made a presentation on Investment Climate, Policies and Investment Opportunities in the state. Elaborating about the possibilities of establishing new business in the state, Dr. Kumar said that Uttarakhand has huge land banks and can give land to investors at subsidized rates. The state government is also developing 3-4 new air strips under the Regional Connectivity Scheme of Government of India to improve connectivity and boost business activities.

Speaking about the investment scenario in the state, he said that the state government is holding talks with companies from Thailand and China, approaching them for investments. Kumar also spoke about the strong tourism sector of the state and said that the government is developing a new airport for facilitating the pilgrims for ‘Char Dham Yatra.’ Chairman of CII Uttarakhand State Council Vikas Garg also addressed the audience during the session.

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