Uttarakhand government inked investment Memoranda of Understanding (MoUs) worth Rs 9,000 crore during a two-day roadshow in London and Birmingham. The signing ceremony saw the culmination of extensive discussions, with a MoU of Rs 7,000 crore being signed on the second day, followed by an additional Rs 2,000 crore on the inaugural day. After these MoUs, how much investment actually comes into the state, that is a big question.
According to a statement issued by the state information department, two separate MoUs worth an investment of Rs 3,800 crore were signed with industrial group Kayan Jet and MoUs worth an investment of Rs 1,000 crore were signed with Usha Breco. An investment MoU of Rs 2,100 crore for developing a skiing resort in Uttarakhand and Rs 1700 crore for a cable car project was signed by Kayan Jet. It was agreed to develop skiing resort projects in Auli, Dayara Bugyal and Munsiyari by Kayan Jet.
The successful signing of these MoUs is a significant stride towards achieving the state government’s ambitious target of attracting investments worth Rs 2.5 lakh crore in the upcoming Global Investors Summit. The Global Investors Conference 2023 garnered participation from approximately 80 industrial houses representing a diverse array of sectors including education, tourism, information technology, and healthcare.
Coincidentally, today marks World Tourism Day, and CM Dhami emphasized the state government’s unwavering commitment to transforming the state into a global tourism hotspot. The state offers myriad opportunities, including wellness tourism and village tourism. Notably, Rishikesh, renowned as the global capital of yoga and spirituality, attracts a significant number of tourists from Europe and beyond. To capitalize on this, the government is actively engaging with investors to establish world-class convention centres in Rishikesh.
Up to this point, investments totalling Rs 16,600 crore have been deliberated upon during the curtain-raiser event held in Delhi for the investor conference and the London-Birmingham roadshow. The government has formalized MoUs with prominent industrial giants. Notably, on September 14, Delhi witnessed the signing of MoUs totalling Rs 5,000 crore with ITC, Rs 1,000 crore attributed to Mahindra Holidays and Resort India Limited, Rs 1,600 crore with e-Kuber, and a substantial agreement of Rs 9,000 crore was reached in Britain with various investors.
