Uttarakhand’s two-day Global Investors Summit 2023 to commence tomorrow. What to expect?

Prime Minister Narendra Modi is set to inaugurate the two-day “Uttarakhand Global Investors Summit 2023” in Dehradun on Friday. The summit aims to draw over a thousand investors, eyeing an investment target of approximately Rs. 2.5 lakh crore for the state. Chief inister Pushkar Singh Dhami said that the state government has finished all arrangements for the summit.

This year’s theme, “peace to prosperity”, underscores the state government’s efforts to attract investments. Leading up to the summit, the government conducted multiple roadshows in major Indian cities, London, Dubai, and other locations, totalling four international and five domestic events. Notably, international roadshows took place in London, Birmingham, Abu Dhabi, and Dubai.

Since September, several agreements and Memoranda of Understandings (MoUs) have been signed during these events, achieving the set investment target. The signed MoUs encompass various sectors, including tourism and hospitality, AYUSH wellness, manufacturing, pharmaceuticals, food processing, real estate and infrastructure, pumped storage, green and renewable energy, and the automobile sector. These agreements represent the diverse interests of investors engaging with the state government.

What to expect from this year’s summit?

Uttarakhand government aims for a 100 percent project grounding during this year’s investors summit. PM Modi is scheduled to kickstart projects worth Rs. 44,000 crores during the opening session of the Global Investor Committee. These projects encompass 16 initiatives spanning the manufacturing and tourism infrastructure sectors. The launch of these projects is poised to significantly accelerate the state’s economic momentum. This marks the first instance of such an extensive initiation of projects on this scale.

Who is set to attend the summit?

The inaugural session of Uttarakhand’s Global Investors Summit 2023 is anticipated to host numerous distinguished guests including three Union uinisters along with seven cabinet ministers representing the state government. Attendees will encompass former chief ministers, Members of Parliament (MPs), Members of the Legislative Assembly (MLAs), and various special guests.

The opening session will also feature eight prominent industrialists from the country as key speakers.

This global investors summit is set to welcome 15 Ambassadors/Heads of Mission, representing nations such as Spain, Slovenia, Nepal, Cuba, Greece, Austria, Japan, Saudi Arabia, and more. Additionally, significant industrial figures are expected to grace the event with their presence.

Here are some domestic investments

• The Dhami government inked substantial investment agreements totalling Rs. 26,575 crore during sessions held in Delhi and Mumbai on September 14 and October 4 respectively.
• Investments amounting to Rs. 12,500 crore were secured during sessions in Britain on September 26-27 and the UAE on October 17-18.
• Significant investment proposal agreements were sealed in Chennai (October 26 – Rs. 10,150 crore), Bengaluru (October 28 – Rs. 4,600 crore), and Ahmedabad (November 1 – Rs. 24,000 crore), amounting to Rs. 47,250 crore.
• The Mumbai Road Show on November 5 resulted in the signing of MoUs worth Rs. 30,200 crore, further bolstering investment prospects.
• The state government’s strategic “regional conclave” approach in Haridwar, Nainital, and Rudrapur spurred investment initiatives in these districts.
• In addition to larger-scale events, the government’s “District Label Mini Conclave” across all 9 districts aimed to encourage both small and large entrepreneurs to invest in Uttarakhand.