“Recently the Chamber had also conducted a survey on MSMEs in Uttarakhand and found that MSMEs in Uttarakhand are significantly contributing to economic growth of the state and are growing strength to strength. Though the state has taken effective measures for improving the socio-economic conditions, the government must focus on facilitating the MSMEs of the state in terms of improved infrastructure, availability of electricity, better connectivity and transportation facilitation in the coming times”, said Sharad Jaipuria, President of the PHD Chamber said after meeting the Chief Minister on Saturday.
The state must also leverage the benefits from Amritsar-Kolkata Industrial Corridor which is expected to boost the manufacturing and agriculture sectors, going forward, Jaipuria said.
In a nutshell, the state must adopt growth effective measures to attain stable and high growth trajectory by reviving the tourism sector which is the need of the hour and encourage steady flow of investments for promotion of MSMEs in the plain areas for growth of economy.
Jaipuria also assured the Chief Minister that the Chamber would continue to work with the state government hand in hand, for the growth and development of the hill state in future also.
The chamber also noted that the state has enormous resources for adventure, cultural, leisure, pilgrimage and wildlife tourism. Though the state suffered huge losses in tourism sector on account of last year’s deluge, the state continued to do well.
The hill state increased its per capita income significantly from Rs. 24,726 in 2004-05 to Rs. 1,03,349 in 2013-14. The state also posted high average social sector expenditure at 39.8% in India’s GSDP during the period FY05 to FY13.
The state also exhibits promising industrial sector as the industry share in GSDP of Uttarakhand was around 36% during 2008-09 which increased to about 38% during 2012-13.
Industry grew at around 12% (annual average) during the period FY2009 to FY2013. The state boasts a large number of enterprises in drugs and pharmaceutical sectors owing to the availability of medicinal plants, herbs and other resources.