Latest update: March, 2020
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.
Uttarakhand is a well-renowned religious and wildlife tourism destination. About 21 new places in Uttarakhand that have the potential to become major tourist destinations. These places include Jageshwar, Baijnath, Saat Taal, Bhimtal, Patal Bhuvaneshwar, Chakori, Someshwar, Pithoragarh, Chakrata, Roopkund, Hanaul, Anson Barrage, Harshil, Dhanaulti and Dayara meadow. Jauljiwi in Kumaon and Tons in Garhwal division are planned to be developed as adventure tourism destinations.
In 2017, domestic tourist inflow in the state were 34.36 million and foreign tourist visits had crossed over 0.13 million. In 2018, 27.81 lakh pilgrims arrived in state for Chardham Yatra, out of which 7.32 lakh pilgrims visited Kedarnath.
Between 2011-12 and 2020-21, Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 10.94 per cent to Rs 2.93 trillion (US$ 41.99 billion). The Net State Domestic Product (NSDP) expanded at a CAGR of 11.06 per cent to Rs 2.12 trillion (US$ 29.44 billion) between 2011-12 and 2018-19.
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 February 2020, the state had total installed power generation capacity of 3,549.68 MW. Hydro (renewable) power contributed 1,876.89 MW to the total installed power generation capacity of the state, followed by thermal power with a contribution of 980.83 MW and 660.21 MW from renewable sources. Of the total installed power generation capacity, state utilities accounted for the largest share of 1,320.02 MW, followed by 1,291.05 MW under private utilities and 938.61 MW under central utilities.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows, during April 2000 to September 2019, stood at around US$ 699 million. Total exports from the state stood at US$ 2.35 billion during 2018-19 and reached US$ 1.92 billion during April-December 2019.
Some of the major initiatives taken by the government to promote Uttarakhand as an investment destination are:
Note: AE - Advanced Estimate
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