<p>Uttarakhand has been going through land degradation due to infrastructural development in recent times, therefore, the present article investigates the potential of bamboo plants in restoring the degraded wastelands in Uttarakhand and its potential to aid the state’s economy. Further, the article deals with the positive aspects of bamboo plantations and the challenges associated with them. A thorough search was conducted using electronic databases including Web of Science, Scopus, Elsevier, and Google Scholar. Keywords included in the search were bamboo, mining, environmental consequences, wastelands, growth patterns, degraded land restoration, ecorestoration, policies, and investment sources. The search was limited to the article published between the years 2000–2024 and written in English. The restoration efforts related to the conventional restoration process may not expedite the restoration process. The bamboo characteristics and growth patterns like a fast-growing canopy, less water requirement, short growth cycle, enhanced biomass production, and resources for the paper pulp industry, weaving material, basketry, and furniture make it an excellent source of investment and have numerous applications. Its enormous root system maintains soil fertility and prevents soil erosion, helps in carbon sequestration, and provides varied ecosystem services thus making it significant for restoring degraded lands. However, the use of bamboo for restoration is in the primary stage in Uttarakhand. The present study investigates the additional benefits of cultivating bamboo concerning the environment, economy, and society of Uttarakhand and possible directions for future research.</p> Graphical abstract <p></p>