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“We Are A Hotspot For Investors” January 2017 issue

“We Are A Hotspot For Investors”

From attracting investments in the remotest of areas, to building an industrial park dedicated to women entrepreneurs, the young state of Uttarakhand has become a force to reckon with in a very short span of time. The Dollar Business catches up with Harish Rawat, Chief Minister of Uttarakhand, to understand how he plans to make it a destination of choice for foreign and domestic investors.

Ahmad Shariq Khan | January 2017 Issue | The Dollar Business

TDB: In a span of 16 years, Uttarakhand has made rapid strides on several fronts. Are you satisfied with the progress, particularly when it comes to creating an enabling environment for industries to flourish?

Harish Rawat (HR): The progress made by the state of Uttarakhand has been remarkable in many ways. Talking about the state’s economic growth, Uttarakhand has indeed made rapid strides since its inception. Today, the annual growth rate of the state is about 50% higher than the national growth rate and the industrial growth rate stands at 16% y-o-y. The services sector has shown 12% y-o-y growth and the agriculture sector has grown by 5.5% y-o-y in 2016. We are hopeful that in the next five years our overall growth rate will assume an exponential trajectory. Also, the state’s per capita income is way above the national average. When I took over as the Chief Minister of Uttarakhand, the per capita income of the state was Rs.84,000, which now stands at about Rs.1,20,000.

TDB: Tourism is a big foreign exchange earner for Uttarakhand. Yet many potential attractions remain under-developed. What are you doing to improve earnings from this sector?

HR: The tourism sector is one of Uttarakhand’s USPs, the backbone of our state’s economy. After I took office, we have undertaken various initiatives ...

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