Uttarakhand to attract Rs 200 bn in upcoming investors' summit: CM Rawat

Uttarakhand is expected to attract investments worth around Rs 200 billion after the forthcoming investors summit to be held here next month, Chief Minister Trivendra Singh Rawat said on Saturday.

Talking to reporters here after holding a slew of roadshows in Bengaluru, Ahmedabad, Mumbai and Delhi to stimulate interest among business and industry leaders for the summit, Rawat said there was a "huge interest" to invest in the hill-state.

"Everyone wants to come to the Himalayas. It was evident in the enthusiasm with which the trade and business leaders and people from the film industry responded to our invitation to participate in the summit," Rawat said.

Asked to specify an amount, he said investments worth around Rs 200 billion in different sectors were expected to come to the state after the summit.

Apart from Reliance Industries Chairman Mukesh Ambani who has given an assurance to expand his operations in the state and evinced interest to invest in telecommunications, hospitality and tourism sectors, people from the film industry including Mukesh Bhatt and Vishal Bhardwaj have also expressed their desire to shoot here, Rawat said.

The chief minister said he was aware of the state's limitations when it comes to availability of land but assured that there would be no problem in accommodating the investments coming to the state.

"I believe in understatement. I don't exaggerate things," he said in his reply to a query on whether a small state like Uttarakhand will be able to accommodate investments worth over Rs 200 billion.

The chief minister promised all support to those willing to invest in Uttarakhand and asked them to make the most of the state's high ranking in the ease of doing business index, cheap availability of power, better law and order scenario, single window clearance system and proximity to Delhi.

Promising entrepreneurs an investment-friendly atmosphere at every level so they can carry out their businesses without a hitch, the chief minister at a meeting in Delhi had on Thursday said, "A 15-day deadline has been set for the approval of any enterprise."

The chief minister said he was asking investors to come to the state not only to do business and earn profits but also to generate employment opportunities for locals at their home which will help curb migration from the hills.

To be inaugurated by Prime Minister Narendra Modi here on October 7-8, the summit is being held for the first time in the state on such a large scale.