Uttarakhand defends Rs 1.01 lakh crore investment claims, says project details publicly available

New Delhi/Dehradun: The Uttarakhand Government has defended its investment record following questions raised on social media over the implementation of projects announced during the Global Investor Summit 2023, maintaining that all investment-related data is publicly accessible and open to scrutiny.

Industries Secretary Vinay Shankar Pandey said the government has maintained transparency in reporting investment proposals and their implementation status, with project-wise information available through official portals.

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“The government has worked consistently to translate investment proposals into reality, resulting in the grounding of investments worth more than Rs 1.01 lakh crore to date,” Pandey said.

He cautioned against drawing conclusions from incomplete information, saying such interpretations could create misleading perceptions about the state's industrial development.

Rs 3.56 lakh crore MoUs signed

The Uttarakhand Global Investor Summit, held in December 2023, attracted investment commitments worth approximately Rs 3.56 lakh crore through memorandums of understanding (MoUs).

However, MoUs represent proposed investments rather than actual capital expenditure, making their conversion into operational projects a key measure of the summit's success.

Pandey said the government has been organising ground-breaking ceremonies at regular intervals to accelerate implementation of these commitments.

Dedicated investment facilitators, known as Nivesh Mitras, were appointed to coordinate with investors, address procedural difficulties and help projects move through various approval stages.

According to the government, these measures have helped advance investment proposals worth more than Rs 1.01 lakh crore to the grounding stage.

Geography limits heavy industry

Pandey said Uttarakhand's industrial development strategy must account for the state's challenging geographical and environmental conditions.

“Uttarakhand’s geographical conditions differ from those of other states. Approximately 70 per cent of the state’s land area is covered by forests and the potential for establishing heavy industries is largely concentrated in Dehradun, Haridwar, Udham Singh Nagar and parts of Nainital. In this context, the state’s industrial policies—aligned with the vision of Chief Minister Pushkar Singh Dhami—have been designed to maximise job creation while maintaining a balance between ecology and the economy,” he added.

He said the government's industrial policies seek to promote employment without compromising the state's ecological priorities.

Government defends small investments

Responding to criticism over the inclusion of small businesses, including flour mills and mobile shops, in investment figures, Pandey rejected the suggestion that only large industrial projects should qualify as investments.

“The importance of an investment is determined not merely by the monetary amount, but also by the employment generated and the local livelihood opportunities created. Chief Minister Pushkar Singh Dhami has issued clear instructions that all entrepreneurs—from the largest industrialists to the smallest business owners—must be treated with equal respect,” said Pandey.

He maintained that small enterprises and self-employment ventures play an important role in generating local livelihoods, particularly in a state where geographical constraints limit large-scale industrialisation.

The government's objective, he said, is to encourage both major industrial projects and smaller entrepreneurial ventures.

Another Rs 24,000 crore in pipeline

Pandey said preparations are underway for the next phase of project implementation, involving proposed investments worth approximately Rs 24,000 crore.

He added that investment-related information can be accessed through the Industries Department's website, the UK SPICE portal and the state's Single Window System.

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While the government maintains that substantial progress has been made since the 2023 summit, the distinction between investment commitments, projects reaching the ground-breaking stage and actual capital deployed remains important in assessing the state's industrial performance.

Based on the figures provided by the government, the Rs 1.01 lakh crore in grounded investments represents approximately 28 percent of the Rs 3.56 lakh crore in MoUs signed during the summit.

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