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Uttarakhand says over ₹1.01 lakh crore in investments grounded after 2023 summit
Uttarakhand says it has turned more than ₹1.01 lakh crore of commitments from 2023’s Global Investors Summit into grounded projects.
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Uttarakhand has grounded investments worth more than ₹1.01 lakh crore following the Global Investors Summit held in December 2023, Industries Secretary and Secretary to the Chief Minister Vinay Shankar Pandey said, responding to questions and reports circulating on social media about the progress of investment proposals. He said details of projects, including their locations and the departments concerned, are publicly available on government portals.
Pandey said assessments of the summit's outcomes should be based on verified information and the progress of projects on the ground. He added that the state government has continued to work towards translating investment commitments into operational projects, while maintaining transparency in the process.
Investment commitments and project implementation
The Global Investors Summit, held in December 2023, saw the signing of memorandums of understanding (MoUs) worth approximately ₹3.56 lakh crore. According to Pandey, the government has organised ground-breaking ceremonies at different stages to facilitate the implementation of these proposals. The state has also appointed investment facilitators to maintain regular communication with investors, help address procedural issues and support projects as they move towards implementation.
Pandey said investment-related information can be accessed through the Industries Department, the UK Spice portal and the state's single-window system. The platforms contain details of projects, their locations and the departments responsible for facilitating them. He noted that questions about the progress of investments had also been raised on social media around eight months ago, and the government had responded with information. The investment position has also been clarified in the state Assembly at different times, he said.
Explaining the state's industrial priorities, Pandey said Uttarakhand's geographical and ecological conditions differ from those of many other states. Around 70% of the state's geographical area is forested, while opportunities for large-scale industrial development are concentrated mainly in Dehradun, Haridwar, Udham Singh Nagar and parts of Nainital. He said the state's industrial policies have been designed to balance economic development with ecological considerations and expand employment opportunities.
Focus on local enterprises and the next phase of investment
Pandey also defended the inclusion of small businesses and local entrepreneurs in the state's investment efforts. He said questioning whether businesses such as flour mills and mobile phone shops should count as investments overlooks their contribution to livelihoods and employment. Even a small business started with an investment of ₹10,000 can make a difference if it creates jobs for two people, he said.
He added that the government's approach, in line with Chief Minister Pushkar Singh Dhami's vision, is to give equal respect to large industrial investors and small business owners. Supporting local enterprises and encouraging self-employment remain part of the state's broader economic development approach, he said.
As part of the outreach for the summit, the government organised roadshows in overseas markets and major Indian cities. Investment conferences were also held across the Garhwal and Kumaon divisions and in districts across the state, bringing local entrepreneurs and small business owners into the process.
Pandey said the government is preparing for the next phase of investment grounding, involving projects worth around ₹24,000 crore. Details of these projects have also been made available through the single-window system. A fourth ground-breaking ceremony is expected to be held soon.
He urged media representatives and other stakeholders to visit project sites, interact with entrepreneurs and assess implementation on the basis of verifiable information. The government, he said, remains focused on transparent investment processes, support for businesses and employment generation across Uttarakhand.
