Uttranchal-Other Investment Policies
The State of Uttaranchal was formed on the 9th November 2000 when it was carved out of northern Uttar Pradesh. Largely a hilly State at the foothills of the Himalayan mountain ranges, its population currently stands around 85 Lakhs in a geographical spread of 53,483 sq km, 88 per cent approximately of the geographical area being hilly; rich in natural resources especially water and forests with many glaciers, rivers, forests and mountain peaks. It’s truly God’s Land (Dev Bhoomi).
Uttaranchal has a hydropower potential of the order of 20236 MW against which only about 1407 MW has been harnessed so far. The Government of Uttaranchal (GoU) has decided to encourage generation of power through small hydropower sources of energy, and has framed a policy so that the development of this sector serves as an engine to achieve the objective of promoting the all-round development of the region.
This policy shall be in operation from the date of its publication as notified by Government Order. All projects awarded within this period under this policy will be governed by this policy for their entire duration.
The existing Industrial Policy was framed in the back-drop of potentialities and expectations of the newly created State of Uttaranchal. The policy focused on the sectors where Uttaranchal has inherent advantages e.g., Tourism, Hydro-power, Floriculture, Agro and Food processing, Handloom, Khadi and Village Industries etc. The Hon’ble Prime Minister of India during his visit to Nainital in March 2002 announced that a special package of incentives would be given to promote Industrial Development in Uttaranchal to offset the constraints that hampered this process.