HP seeks to woo investors and boost industrial sector

HP seeks to woo investors and boost industrial sector

(Representational image: iStock)

The Himachal Pradesh government is giving special impetus to promote the industrial sector and to attract investors due to which the industrialization process has made significant progress in the state.

Informing about this, a state government spokesperson said the government was committed towards sustainable development and was making all out efforts to strengthen the industries sector as it plays a pivotal role in sustainable development.

“To make Himachal an ideal destination for investment, the state government is ensuring balanced growth of industrial and service sectors.


Himachal has made its journey from traditional herbs to become Asia’s largest Pharma hub, exporting limestone to a cement manufacturing hub, perennial rivers to becoming a power surplus state, apples and peaches to agri processing units, gurukuls to Education hub and from traditional handloom to Textile Park and hub,” he added.

He said to forge ahead the journey and make Himachal an investor friendly State, the government was giving priority to approval of NOC under Section 118.

Besides, State Level Single Window Clearance was also facilitating the approval process for investing in the state and had prepared policies as HP Tourism Policy 2019, IT Policy and Ayush Policy under which various assistance were being ensured to investors.

In addition, Film Policy2019 had been notified to make Himachal the first Preference State for film producers.

He further stated the state government had notified the HP Industrial Investment Policy2019 to create a congenial investment climate for existing industries to grow as well as attract further investment for creating employment opportunities for local youth.

This will also ensure development of the Industrial and Service Sector throughout the state.

The policy specifically addresses issues impeding industrial growth and ensures simplification of procedures, key physical and social infrastructure, human resource development, access to credit and market. It also promotes Ease of Doing Business (EoDB) by digitization of all processes and to promote self certification. Impetus is being given to the food processing industry by establishing effective forward and backward linkages, promoting Agro-Horticulture and rural prosperity through the Policy, he said.

The official said the aim of policy was to promote MSME sector for uniform sustainable growth of service and industrial sector throughout the state to facilitate generation of employment opportunities for local youth and stakeholders. It also aims to promote start- ups and entrepreneurship to create and generate a local entrepreneurial base.

“To facilitate entrepreneurs, the government has improved the Ease of Doing Business (EoDB) and the government now ranks 7th in EoDB from earlier 17th position.

Himachal has also improved its implementation score from 65.48 percent in 2017-18 to 94.13 percent in 2019 and also emerged as fastest growing state in the EoDB,” he said, adding the state has also topped in NITI Aayog rankings in achieving the Sustainable Development Goals.

He added the state government organised Rising Himachal- Global Investors’ Meet which attracted an estimated investment worth 96,721 crore and 703 MoUs were signed.

“Keeping in view the success of the Global Investors’ Meet, the state government is aiming to organise another groundbreaking ceremony on the occasion of three years of completion of the government,” he added.