Home Interview Govt well prepared to ground proposals this time: Vinay Shankar Pandey

Govt well prepared to ground proposals this time: Vinay Shankar Pandey


Exclusive Chat with Secretary, Industries, regarding Global Investors Summit


Destination Uttarakhand – Global Investors’ Summit is due to be held at the FRI Campus, here, on 8 and 9 December. Prime Minister Narendra Modi will inaugurate the summit on 8 December while Union Home Minister Amit Shah will participate in the Summit on 9 December. Top Industrialists from the country including Mukesh Ambani and Gautam Adani are likely to attend. Preparations for the summit are almost complete. Garhwal Post spoke to Secretary, Industries, Vinay Shankar Pandey regarding the Summit.

Some excerpts:

In the first Global Investors’ Summit held in 2018 in Dehradun, MoUs for investment to the tune of Rs 1.25 lakh crores were signed. In these five years since, the majority of the proposals failed to get grounded and materialise. How will the state administration make sure that the same does not happen this time, also?

The state government has been preparing well for the Summit. A lot of groundwork has been done this time before the summit. On the directions and under the guidance of Chief Minister Pushkar Singh Dhami, as many as 27 new policies have been framed while many other existing policies related to trade and industry and labour have been reformed. In addition, already the work to ground the investment proposals that have been received, so far, is being done in right earnest. The CM has directed the departments concerned to take all possible measures to ground these proposals at the earliest possible. A lot of work has already been done in this regard even before the summit begins. The government is confident that, this time, the proposals will materialise into actual investment.

What has been the response from the potential investors in various road shows and meetings regarding the investors’ summit, that have been held in various places?

The response has been overwhelming. The government had fixed a tentative investment target of Rs 2.5 lakh crores. Several road shows were held by the CM, himself, and his cabinet colleagues in Delhi-NCR, Mumbai, Bengaluru, Ahmedabad and Chennai, etc., in India and in London, Birmingham, Dubai and Abu Dhabi, etc., at the global level. Even in Dehradun, several meetings have been held and MoUs signed with interested potential investors. I can only say that we are reaching the target already.

What have been the key areas in which the majority of the proposals have come?

Uttarakhand has a lot of potential in the Pharma sector, Hospitality and Tourism, Herbal sector, food and fruit processing, Education and Higher Education as well as Medical Education in addition to the power sector like hydropower, solar power and wind power. The majority of the proposals are related to these sectors, but the portfolio of the investment proposals signed so far is very diverse and not limited to the sectors that I have mentioned here. As you are aware, environment is a major factor in Uttarakhand and therefore the state has to focus on environment friendly industry.

What about the existing business houses in Uttarakhand? Has the government received any expansion or investment proposals from them?

The Chief Minister had made it clear that existing entrepreneurs should also be facilitated with respect to expansion of their units or any new investment proposals coming from them. The department has been in touch with the existing entrepreneurs and they have been assured all help from the state towards any proposed expansion including tax concessions and other major relaxations and even regarding making them available additional land for the expansion. Many existing entrepreneurs have shown keen interest in setting up new units or in expanding their existing units. The government will fully facilitate them.

What special facilities you propose to provide to the potential investors which can work towards their decision to set up units here?

I believe, Uttarakhand has draf ted among the most investor-friendly polices and done away with unnecessary red-tapism. An effective single window system will be a key factor. We shall provide them single window clearance for all their requirements at the earliest without the entrepreneurs having to run around for them. The polices that have been drafted afresh are after a lot of ground work and research and af ter consulting the stakeholders. A land bank has been set up to facilitate easy decision making. The power situation is better than many states and the tariff is lower than most states. The Chief Minister is very proactive towards resolving any issue or problem that the investors may face.