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Press Release


Govt. of Uttarakhand plans to grow Tourism sector in the State from INR 25,000-30,000 Cr currently to INR 50,000 Cr and eventually INR 1 lakh Cr.

  • Hon’ble PM Shri Narendra Modi inaugurated the Destination Uttarakhand’ Investor Summit 2018 and commended the unique ‘13 districts, 13 destinations’ scheme for development of Tourism in the State.

  • YES BANK also released a knowledge report in partnership with the Govt. of Uttarakhand titled ‘Potential for Organic Spices in Uttarakhand’. The State’s organic spices sector has the potential to generate export earnings of INR 75 Cr.

Dehradun, Oct 8, 2018: YES BANK was the ‘Banking Partner’ of the ‘Destination Uttarakhand’ Investor Summit 2018 held during October 7-8, 2018 in Dehradun. YES BANK was the ‘Knowledge Partner’ of the new Uttarakhand Tourism Policy 2018 which was unveiled at the Summit by Shri K. J. Alphons, MoS (I/C) for Tourism, Govt. of India and Shri Satpal Maharaj, Minister for Tourism, Govt. of Uttarakhand.

The policy accords ‘Industry’ status to Tourism thereby creating investment opportunity for investors through favorable incentives, subsidies & provisions. The policy also lays down a roadmap for the Govt. of Uttarakhand’s flagship ’13 districts, 13 destinations’ scheme for systematic development of these destinations.

The policy will enable investors to capitalize on the huge Tourism potential in the State through various schemes, subsidies and concessions. Further, the policy focuses on developing emerging Tourism offerings such as balloons, caravans, homestays, ropeways, golf, as well as winter destinations to make the State a global, ‘all season’ destination.

The policy recommends the constitution of a High Powered Empowered Committee, headed by the Chief Secretary, to sanction all tourism projects including mega tourism projects of the Private Sector or as identified by the Department or the Uttarakhand Tourism Development Board (UTDB). A detailed ‘Tourism Road Map’ will be prepared by UTDB by March 2019 to implement the recommendations of the policy.


Shri K. J. Alphons, Hon’ble MoS (I/C) for Tourism, Govt. of India and Shri Satpal Maharaj, Hon’ble Minister for Tourism, Govt. of Uttarakhand, unveiled the Uttarakhand Tourism Policy 2018

Smt. Harsimrat Kaur Badal, Union Minister for Food Processing Industries also unveiled a Govt. of Uttarakhand and YES BANK knowledge report ‘Potential for Organic Spices in Uttarakhand’. The report recommends a focused growth strategy to realize the State’s full potential in the organic sector and generate export earnings of INR 600 Cr., of which INR 75 Cr. can be from organic spices. 

Speaking at the occasion, Nikhil Sahni, Group President, Government Banking & Strategic Government Advisory at YES BANK said ‘Uttarakhand is high priority State for YES BANK. As ‘Banking Partner’ of the Summit, YES BANK has assisted the Dept. of Tourism in preparing the Uttarakhand Tourism Policy 2018 and unveiled a knowledge report on realizing the State’s full potential in the organic sector. YES BANK has also prepared the Uttarakhand AYUSH Policy 2018 and is also actively working on the State’s Skill Development Policy. YES BANK has also been instrumental in setting up digital banking services to enable fully cashless transactions in AIIMS Rishikesh.’


YES BANK, is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

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Alisha Prakash

Jyothi Goswami

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