Tata group explore investment opportunities in Uttarakhand

Dehra Dun, Feb 17 (PTI) A high level delegation of Tatagroup today called on Chief Minister Ramesh Pokhriyal Nishankat the Secretariat for discussing possibilities of investmentin Uttarakhand in various sectors like contract farming,tourism, IT and power.

During a meeting of the Chief Minister with Tata GroupChairman Ratan Tata on November 15 last here, Nishank hadinformed the latter that the state government had createdcongenial atmosphere for the investment.

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

Nishank hoped that minimum of Rs 10,000 crore capitalinvestment and 50,000 direct and indirect employment could beexpected from the Tata group.

For the purpose of accelerating the proposals presentedby the Tata group and strengthening the single window system,he directed Chief Secretary Subhash Kumar to nominatePrincipal Secretary Planning S

Ramaswami as nodal officer.

On various proposals of different projects of publicservices to be carried out on PPP mode, presented by TataConsultancy Services (TCS), he directed the officers concernedto initiate necessary action after examination.

Nishank asked senior officers of Tata Group to proposeinvestments in hilly areas and assured that the state wouldextend full cooperation on the schemes for hilly regions.

Tata Motors Vice President A S Puri informed the ChiefMinister that the group had encouraging experience of workingin Uttarakhand Plant at Pantnagar established in a recordperiod of one year. He apprised that the maximum target ofproduction of vehicles 2.5 lakh per year would be extended to5 lakh per year.

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

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

Owing to the nearness to the national capital, bettertransport facilities, high literacy rate, better law andorder, and pollution free environment, Uttarakhand is fastemerging as moving state towards investment, Chief Secretaryinformed.

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

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