MoUs worth ₹70,000 crores signed at Uttarakhand Investors Summit

Adani plans to invest ₹6,500 cr, Patanjali ₹2,500cr

Adani Group has announced an investment of ₹6,500 crore in Uttarakhand, while Mahindra Group plans
to invest ₹600 crore. Amul has also announced plans to assist farmers in the State for higher milk
production.
At the Uttarakhand Investors Summit that began here on Sunday, which was inaugurated by Prime
Minister Narendra Modi, MoUs involving an investment of ₹70,000 crore have been signed. The summit
saw the presence of leading industrial groups such as Reliance Industries, Mahindra Group, ITC, JSW
Group, Adani Group and Patanjali, among others.
Pranav Adani, Executive Director of Adani Enterprises, said that the group aims to exploit the
opportunities in the State. The plan is to invest ₹5,000 crore in a Metro project, ₹1,000 crore in a
transmission project, and ₹500 crore for a logistics park. An MoU was also signed for the distribution of
organic food. “Uttarakhand will be a bright star in resurgent India,” said Adani.

Automotive plant

Pawan Goenka, Mahindra Group Managing Director, told BusinessLine that the group plans to invest ₹250 crore to
set up an automotive plant to produce Scorpio and Balero. ₹100 crore would be invested on its tractor business and ₹200 crore towards expanding its resort business.

Mahindra set up an automotive plant in Haridwar in 2006, which has so far produced 16-lakh vehicles, and is expected to produce 1.5-lakh vehicles during the current fiscal. The group also produces 1,000 electric three-wheelers every month. It has employed more than 10,000 people in various businesses, and now plans to raise investment in the next 2-3 years. Swami Ramdev’s Patanjali has plans to invest ₹2,500 crore in the State. Its Managing Director Acharya Balkrishna told BusinessLine that investments will be made in education, food processing, and in wellness, among other areas. The company, at present, has invested ₹2,100 crore in the State, which is 6 per cent of the total private investment of ₹37,000 crore. It provides direct employment to 30,000 people in the State, which is 10 per cent of the total employment provided by the private sector.
Amul, the milk co-operative, has announced plans to assist farmers in the State. RS Sodhi, Managing Director of Amul, said that an MoU has been signed to promote co-operative dairy.
The State consumes dairy products worth ₹2,000 crore every year, but produces just 15 per cent of its consumption.This is dummy copy. It is not meant to be read. Accordingly, it is difficult to figure out when to end it. If this were real copy, it would have ended long ago, because‚ as we all know‚ no one reads body copy, and even fewer read body copy this long. But then, this is dummy copy. It is not meant to be read. Period.

Article Source: https://www.thehindubusinessline.com/economy/mous-worth-70000-crore-
signed-at-uttarakhand-investors-summit/article25150180.ece