Sikkim Chief Minister urges investors to tap into state's huge hydropower potential

Sikkim Chief Minister Prem Singh Tamang has urged investors to consider his state as a favourable investment destination, highlighting the huge potential for hydropower and other clean and green energy sources. Speaking at the Business 20 (B20) conference, which is part of India's G20 presidency, Tamang said that the Himalayan state has so far only utilised 27.5 per cent of its 8,000 MW power potential.

"We have only utilised 2,200 MW till now and the scope for hydropower, clean and green energy is ample in Sikkim,” said Tamang at the conference on Opportunities for multilateral business partnership in Tourism, Hospitality, pharmaceuticals, and organic farming.

Tamang also pointed out that a total of 55 pharmaceutical companies from within the country are currently established in the state and that organic tourism is one of the state's biggest draws, with Sikkim being the first organic state in the world and recognised by the United Nations.

Delegates from 24 countries participated in the B20 conference, which was organised by the Confederation of Indian Industry (CII) and held in Sikkim. The state will also host the StartUp20 conference on March 18 and 19. Tamang said that Prime Minister Narendra Modi's initiative to let Sikkim host the two events has given a boost to the state's economy.

The chief minister was joined at the conference by Dr. Chintan Vaishnav, Mission Director Atal Innovation Mission and Additional Secretary, NITI Aayog, who said that B20, the only engagement group under the G20 umbrella, will take the group forward and build an articulate link and ecosystem.

Noor Rahman Sheikh, Joint Secretary (Economic Diplomacy), Ministry of External Affairs, also spoke at the conference and said that Sikkim has inherent advantages in pharmaceuticals and the Centre has great faith in the states of the northeastern region. "Sikkim is a favourable place for investments and its potential is immense. The Northeast states have so much to give," he said.

Investors looking for opportunities in hydropower and clean energy would do well to consider Sikkim, with the state's chief minister making a strong case for the region's untapped potential at the recent B20 conference. With 55 pharmaceutical companies already established in the state and organic tourism attracting visitors from around the world, Sikkim has a lot to offer investors looking for new opportunities in India's fast-growing economy.