Dehradun (Uttarakhand) [India], February 27 (ANI): Uttarakhand is emerging as a rapidly growing economic hub, playing a vital role in India's rise as one of the world's fastest-growing economies.

With thriving industries in automobiles, pharmaceuticals, agriculture, IT, tourism, and education, Uttarakhand is setting new growth benchmarks.

The state's economic output has surged to Rs. 2.87 lakh crore, while its per capita income stands at Rs 2.61 lakh--strong indicators of its remarkable progress and investment potential.

Uttarakhand has implemented investor-friendly and transparent policies, making it a prime investment destination. Its proximity to Delhi-NCR further enhances its appeal.

Over the past two decades, the state has witnessed steady industrial growth, significantly expanding employment opportunities in the manufacturing sector. With over 10,000 acres of industrial land available, Uttarakhand continues to attract major investments.

The state has secured a prominent position in the automobile industry.

Haridwar is home to Hero Motors, the world's largest two-wheeler manufacturing plant, a testament to Uttarakhand's industrial achievements. Additionally, the state contributes over 10% to India's total auto parts production.

The pharmaceutical sector is also flourishing, with Uttarakhand accounting for 22 per cent of the country's generic drug production. With more than 370 manufacturing and supporting units, the state's fertile land and favourable climate make it an ideal hub for the industry.

Jitendra Kumar, Vice President of EAR India, said, 'The policies introduced by the government, along with subsidies and incentives, have attracted numerous pharmaceutical industries to Uttarakhand. Today, I can proudly say that the state is a leader in both the production and export of medicines.'

The agricultural sector in Uttarakhand is also experiencing consistent growth. The state has four major agro-climatic zones that support the cultivation of a variety of crops.

The demand for Uttarakhand's organic products is rising rapidly in both domestic and international markets.

Uttarakhand's cool climate, secure environment, and abundant natural resources make it an ideal location for data centres and IT companies.

The state's IT policy offers special incentives for emerging technologies. Uttarakhand is making rapid strides in the technology sector, with an annual growth rate of 13 per cent in IT exports.

Mukul Chandra Agrawal, Director of iKSANA, told ANI, 'I see everything necessary to make Dehradun an IT hub. The city has the right infrastructure, connectivity, talent, and resources. Most importantly, the government is committed to making it a reality.'

The Uttarakhand government is actively promoting Micro, Small, and Medium Enterprises (MSMEs) through various initiatives, including affordable loans, technical training, and export incentives.

Many small entrepreneurs have benefited from these initiatives.

Indrajit Singh, an entrepreneur, said, 'We received significant support from the government. From registering with the District Industries Centre (DIC) to securing bank assistance, we never encountered any difficulties, thanks to the government's policies.'

While speaking to ANI, Prateek Jain, Director of the Industries Directorate, Uttarakhand, said, 'In 2023, we introduced the MSME policy for small investors with investments under Rs 50 crores, categorized as MSMEs. Under this policy, businesses receive eight different types of subsidies, including interest subsidies, capital subsidies, and electricity rebates.'

Uttarakhand has implemented a Single Window System to simplify the investment process, ensuring that all necessary approvals are accessible on a single platform.

Additionally, a dedicated Investment Centre supports investors at every stage of their projects, making the process seamless and efficient.

The Uttarakhand Investor Summit 2023 was organised to further boost investment, attracting investors from across the country and abroad. This platform enabled the government to showcase its policies and initiatives, paving the way for the state's economic growth.

In his speech, Pushkar Singh Dhami, Chief Minister of Uttarakhand, said, 'An investor seeks a business-friendly atmosphere, a strong legal framework, investor-friendly policies, and good connectivity. Additionally, a healthy environment and fresh air are essential. Our state meets all these criteria.'

Uttarakhand is a thriving industrial hub today and holds immense potential for the future.

The state is on a path to stability and prosperity with a skilled workforce, investor-friendly policies, and rapidly developing modern infrastructure.

Uttarakhand is poised to become a leading global investment destination in the coming years.

Prime Minister Narendra Modi said in his speech, 'This land of immense potential is creating numerous opportunities for investors. Today, as India progresses with the mantra of 'Development with Heritage,' Uttarakhand stands as a shining example of this vision.'

Uttarakhand's continuous development is driven by strong policies and government initiatives, making it one of the country's most attractive and ideal investment destinations. (ANI)