Uttarakhand is the "Yoga Capital of the World" and is the leading producer of pear, peach, plum, and apricot.
Uttarakhand is located in the foothills of the Himalayan mountain range. The state shares borders with China (Tibet) in the north, Nepal in the east, and inter-state boundaries with Himachal Pradesh in the west and northwest and Uttar Pradesh in the south. It has almost all agro-geo climatic zones, which provide commercial opportunities for floriculture and horticulture. The state is home to more than 175 species of rare medicinal, aromatic & herbal plants. The state has proximity to the national capital, Delhi, a leading market of the country and excellent connectivity with neighboring states. Uttarakhand has abundant natural resources due to hills and forests. Its agro-climatic conditions support horticulture-based industries. The vast water resources available in the state are also favorable for hydropower. The presence of several hill stations, wildlife parks, pilgrimage places and trekking routes make Uttarakhand an attractive tourist destination.
Uttarakhand is one of the fastest growing states in India, thanks to the massive growth in capital investment arising from conducive industrial policy and generous tax benefits.
At current prices, Uttarakhand’s GSDP is projected to be Rs. 3.33 trillion (US$ 40.34 billion) in FY23. Between 2018-19 and 2023-24, GSDP of the state is estimated to increase at a CAGR of 7.06%.
The state offers a wide range of benefits in terms of interest incentives, financial assistance, subsidies, and concessions. Uttarakhand has a robust social and industrial infrastructure, virtual connectivity with over 39,000 km of road network, two domestic airports, 345.23 km of rail routes.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), between October 2019-June 2023, FDI inflow in Uttarakhand stood at US$ 147.98 million.
As of May 2022 (Upto December), 30 Industrial Entrepreneurs Memorandums (IEMs) worth US$ 209.30 million) have been filed in Uttarakhand.
In FY23, the total exports from the state stood at US$ 1.77 billion while FY24 (upto July 2023) US$ 0.76 billion.
In a recent visit to Uttarakhand, Prime Minister Mr Narendra Modi laid the foundation stone for projects worth over Rs 17,500 crore (US$ 2.35 billion) across various sectors such as roads, hydropower, sewage, and medical facility.
Mr. Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology and Skill Development and Entrepreneurship, inaugurated the first Internet Exchange for Uttarakhand in Dehradun.
Raksha Mantri, Mr Rajnath Singh dedicated 44 major permanent bridges, to provide better connectivity to remote areas across seven states and union territories. He also laid the Foundation Stone for Nechiphu Tunnel in Arunachal Pradesh.