Northern Chapter
Economy of the region is largely agrarian in nature with over 70% of the population
Uttarakhand
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Uttarakhand, located in the northern part of India, is known for its serene landscapes, spiritual significance, and rich biodiversity. The state is a popular tourist destination for pilgrims and nature lovers, with destinations like Haridwar, Rishikesh, Nainital, and the Jim Corbett National Park. Beyond tourism, Uttarakhand is making strides in sectors such as hydropower, agriculture, pharmaceuticals, and manufacturing, contributing significantly to India’s growth.
Economic Snapshot:
- GSDP (at current prices): ₹2.09 lakh crore (FY23)
- GSDP Growth Rate (CAGR 2017-2023): 6.7%
- Per Capita Income: ₹2,07,000 (FY23)
- Share in India’s GDP: ~0.5%
Facts
Capital
Dehradun (Winter), Gairsain (Proposed Summer Capital)
Languages
Hindi, Garhwali, Kumaoni, English
Population
~11 million (2023)
Geographical Area
53,483 sq. km
Key Industries
Tourism, Horticulture, Pharmaceuticals, Handicrafts, Hydro Power, Floriculture
Infrastructure
- Connectivity: Uttarakhand is well-connected by road, rail, and air. The state has a growing network of highways, and Dehradun and Pantnagar airports offer domestic connectivity.
- Transport: Uttarakhand is focusing on improving roads, railways, and airports to boost connectivity, especially for tourism.
- Industrial Zones: The state has established several industrial hubs such as Haridwar, Pantnagar, and Selaqui, promoting manufacturing and electronics industries.
- Smart Cities: Dehradun and Nainital are being developed under India’s Smart Cities Mission, focusing on improving urban infrastructure and quality of life.
Government Initiatives
- Uttarakhand Industrial Investment Policy 2015: Offers tax exemptions, subsidies, and capital investment incentives to promote industrial growth.
- Uttarakhand Solar Energy Policy: Encourages the development of solar power plants, with the goal of generating 1,000 MW of solar energy by 2025.
- Pharmaceutical Policy 2020: Focuses on the development of pharma clusters, providing infrastructure support and subsidies for pharma companies.
- Ease of Doing Business: The state has made significant strides in simplifying business procedures, including online approvals and single-window clearances for industries.
Key Sectors
01
Tourism
- Uttarakhand is one of India’s most significant tourism hubs, attracting millions of pilgrims and nature tourists every year.
- The state is home to the famous Char Dham Yatra (Yamunotri, Gangotri, Kedarnath, and Badrinath), one of the holiest pilgrimage circuits in India.
- Rishikesh and Haridwar are well-known for their spiritual significance and yoga and meditation centers, drawing domestic and international tourists.
- The state also promotes adventure tourism, with activities like trekking, river rafting, paragliding, and wildlife safaris in its national parks.
02
Agriculture and Horticulture
- Uttarakhand is a leading producer of fruits such as apples, peaches, plums, and berries. The Kumaon and Garhwal regions are famous for their fruit orchards.
- The state is also known for growing off-season vegetables, pulses, and herbs.
- Organic farming is a growing trend in the state, with initiatives to promote sustainable agriculture and export of organic produce.
- Uttarakhand is also a significant producer of medicinal plants and herbal products, thanks to its diverse flora.
03
Hydropower
- Uttarakhand is a leader in hydropower generation in India, with numerous rivers flowing through the state.
- The state has a hydropower potential of over 25,000 MW, with several large and small hydroelectric projects already in operation.
- The Uttarakhand government is focusing on the development of renewable energy projects, with emphasis on small hydroelectric plants and solar power generation.
04
Pharmaceuticals and Biotechnology
- Uttarakhand is emerging as a pharmaceutical hub, with a growing number of pharmaceutical manufacturing units and biotech companies.
- The state has a strong presence in generic drug production, medical devices, and nutraceuticals.
- The government has been promoting the establishment of pharma clusters in cities like Dehradun, Haridwar, and Roorkee, which are becoming key centers for research and manufacturing.
05
IT and Electronics
- The state has been promoting the growth of the information technology (IT) and electronics industries through various incentives, including tax benefits for IT companies in Dehradun and Haridwar.
- Uttarakhand has been developing an electronics manufacturing cluster and is increasingly becoming a key player in the electronics and IT services sector.
Investment Opportunities
Hydropower
With substantial untapped potential for hydropower projects, there are significant investment opportunities in large and small hydropower plants, along with renewable energy projects.
Agro-processing
There is potential for investments in fruit processing, organic farming, and food packaging industries.
Pharmaceuticals
Opportunities in pharma manufacturing, research and development, and biotechnology.
IT and Electronics
The state offers opportunities in IT services, electronics manufacturing, and IT infrastructure.
Tourism Infrastructure
With its growing popularity, investments in eco-tourism, adventure tourism, and hospitality facilities are also promising.
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