Latest update: May, 2018
Uttarakhand is one of the fastest growing states in India, thanks to the massive growth in capital investments arising from conducive industrial policy and generous tax benefits. The state is situated in the foothills of Himalayas. The presence of several hill stations, wildlife parks, pilgrimage places and trekking routes make Uttarakhand an attractive tourist destination.
Between 2011-12 and 2017-18, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 11.16 per cent to Rs 2.18 trillion (US$ 33.76 billion) whereas the Net State Domestic Product (NSDP) expanded at a CAGR of 11.45 per cent to Rs 1.95 trillion (US$ 30.31 billion).
The state has close proximity to the national capital Delhi, a leading market of the country and excellent connectivity with neighbouring 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 favourable for hydropower.
Uttarakhand is being developed as an ‘energy state’ to tap the hydropower electric potential of over 25,000 MW. As of April 2018, hydropower generation capacity in the state was recorded to be 1,815.69 MW.
Some of the major initiatives taken by the government to promote Uttarakhand as an investment destination are:
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