DEHRADUN: Prime Minister Narendra Modi inaugurated the first Uttarakhand Investors Summit in Dehradun on Sunday.
A large number of leading business firms and industrial houses are likely to participate in the two-day event in the state, which will conclude on Monday
While inaugurating the investors’ summit, Modi said India will be a catalyst for global development as the country is going through a major social and economic change. He also said 40 percent of the country’s total energy capacity will come from renewable sources by 2030.
“India is witnessing rapid economic and social changes. The country is going through a big transformation. Every major institution in the world is predicting that in the coming decades, India is going to be the driving engine of the world growth,” he said.
Modi further added that the economy has stabilized in the last few years with inflation under control and rising middle-class income, the scale and speed at which reforms are happening is unprecedented.
Industry executives such as Pawan Goenka, Managing Director of Mahindra, and Patanjali’s Acharya Balkrishna, representatives from Japan, Singapore and the Czech Republic were present on the first day of the summit.
The Uttarakhand government has identified 12 focus areas to attract investment. It includes tourism and hospitality, renewable energy, food processing and pharmaceuticals among others.
“Investments of around Rs 75,000 crore have been received so far and we have signed proposals of Rs 27,000 crore in the solar power sector, Rs 14,000 crore in health, Rs 11,000 crore in manufacturing and Rs 13,000 crore in the tourism sector,” Uttarakhand CM Trivendra Singh Rawat said.
Image credit: The Financial Express