Tata group explore investment opportunities in Uttarakhand

DEHRA DUN: A high level delegation of Tata group on Thursday called on Chief Minister Ramesh Pokhriyal Nishank at the Secretariat for discussing possibilities of investment in Uttarakhand in various sectors like contract farming, tourism, IT and power.

During a meeting of the Chief Minister with Tata Group Chairman Ratan Tata on November 15 last here, Nishank had informed the latter that the state government had created congenial atmosphere for the investment.

In the wake of assurance of Tata, the visit of the delegation can be termed as a big stride in the direction of investment in the state, an official release said.

Nishank hoped that minimum of Rs 10,000 crore capital investment and 50,000 direct and indirect employment could be expected from the Tata group.

For the purpose of accelerating the proposals presented by the Tata group and strengthening the single window system, he directed Chief Secretary Subhash Kumar to nominate Principal Secretary Planning S Ramaswami as nodal officer.

On various proposals of different projects of public services to be carried out on PPP mode, presented by Tata Consultancy Services (TCS), he directed the officers concerned to initiate necessary action after examination.

Nishank asked senior officers of Tata Group to propose investments in hilly areas and assured that the state would extend full cooperation on the schemes for hilly regions.

Tata Motors Vice President A S Puri informed the Chief Minister that the group had encouraging experience of working in Uttarakhand Plant at Pantnagar established in a record period of one year. He apprised that the maximum target of production of vehicles 2.5 lakh per year would be extended to 5 lakh per year.

Besides, the Group was also interested for investment in contract farming sector, he suggested.

Earlier, in a meeting of the Secretaries with the officers of Tata Group presided over by the Chief Secretary , possibilities of investment was discussed at length.

Owing to the nearness to the national capital, better transport facilities, high literacy rate, better law and order, and pollution free environment, Uttarakhand is fast emerging as moving state towards investment, Chief Secretary informed.

During the meeting, Tata Group has expressed its interest in contract farming, information technology, run-of-the river hydro project, tourism, health and low cost housing projects.

Tata group officials were informed about various incentives including subsidy in income tax, capital investment subsidy, exemption in entry tax of plant and machinery etc.