Uttarakhand CM allocates Rs 90 crore subsidy to 40 industrial units

Subsidies to industries: Uttarakhand's Chief Minister, Pushkar Singh Dhami disbursing a subsidy of Rs 90 crore to support 40 industrial units as part of the Industrial Development Scheme, on Saturday.

In accordance with the Central Government's Industrial Development Scheme of 2017, manufacturing and service sector establishments located in Uttarakhand and Himachal Pradesh are eligible for a subsidy, amounting to 30 per cent of their investment in plant and machinery, capped at a maximum of Rs 5 crore.

Following the transfer of these funds to the accounts of the 40 industrial units situated in Uttarakhand, the Chief Minister emphasized the program's pivotal role in fostering industrial growth within the state.

Promoting industrial development in Uttarakhand

Dhami expressed his gratitude towards Prime Minister Narendra Modi and Union Commerce and Industry Minister Piyush Goyal for their support in granting this subsidy.

He also highlighted the state government's ongoing commitment to promote industrial development in Uttarakhand and announced the upcoming "Uttarakhand Global Investors Conference" scheduled for December, aimed at further boosting the sector.

Dhami revealed that meetings with various investor groups in London, Dubai, and Abu Dhabi have already resulted in investment agreements totalling approximately Rs 55,000 crores. During the conference, set to take place in Dehradun on December 8-9, the state government intends to expedite the implementation of most of these agreements.

(With PTI inputs)