Himachal Pradesh
Himachal Pradesh is located in the northern region of India. The state is surrounded by Jammu and Kashmir on the north, Punjab on the west and the south-west, Haryana on the south, Uttar Pradesh on the south-east and China on the east. Known as India’s ‘Fruit Bowl of India’ and ‘Dev Bhoomi’, Himachal Pradesh is famous for its natural scenic beauty.
At current prices, the Gross State Domestic Product of Himachal Pradesh reached Rs. 1.57 trillion (US$ 21.24 billion) in 2020-21. The state’s GSDP (in Rs.) increased at a Compound Annual Growth Rate of 6.50% between 2015-16 and 2020-21. Tertiary sector witnessed the fastest growth at a CAGR of 10.76% between 2011-12 and 2020-21.
Total exports from Himachal Pradesh stood at US$ 1,392.91 million in 2019-20. In FY21 (until October 2020), exports from Himachal Pradesh stood at US$ 919.42 million.
As of February 2021, Himachal Pradesh had a total installed power-generation capacity of 4,154.57 MW, comprising 2923.88 MW by hydropower. Himachal Pradesh has immense potential for hydropower as it is naturally blessed with abundant streams and rivers flowing down from towering mountains.
The rich natural resources of the state are favourably suited for investments in major sectors such as procurement of horticulture produce, hydroelectric power, cement and tourism. Being pre-dominantly an agrarian state before the turn of the century, Himachal Pradesh has emerged as a preferred manufacturing destination for sectors such as pharmaceuticals, biotechnology, FMCG, textiles, light engineering etc. The State Government of Himachal Pradesh offers a wide range of policy and fiscal incentives for businesses under the Industrial Policy, 2017. The state has also undertaken other policies such as Tourism Policy 2005 and IT Policy 2001 for upgradation of these sectors in the state. Himachal Pradesh has announced a Revised Solar Policy 2016 under which it plans to establish 700 MW of solar photovoltaic cell capacity.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Himachal Pradesh were valued at US$ 17.67 million between October 2019 and September 2020.
Also, Himachal Pradesh is one of the leading fruit and vegetable producing states in the country, thus having significant potential for growth of the food processing industry. Because of scenic diversity, there is a great potential for tourism with focus on eco-tourism, adventure tourism and spiritual tourism. The Confederation has been working closely with Government of Himachal Pradesh for the overall and inclusive development of the State. As part of policy advocacy agenda, CII is representing the industry viewpoint on emerging trends, shaping new policies, ease of doing business, Entrepreneurship & Skill Development, etc. CII has been proactively taking up industrial issues with the State Government and is committed towards industry competitiveness.
Himachal Pradesh is located in the northern region of India. The state is surrounded by Jammu and Kashmir on the north, Punjab on the west and the south-west, Haryana on the south, Uttar Pradesh on the south-east and China on the east. Known as India’s ‘Fruit Bowl of India’ and ‘Dev Bhoomi’, Himachal Pradesh is famous for its natural scenic beauty.
At current prices, the Gross State Domestic Product of Himachal Pradesh reached Rs. 1.57 trillion (US$ 21.24 billion) in 2020-21. The state’s GSDP (in Rs.) increased at a Compound Annual Growth Rate of 6.50% between 2015-16 and 2020-21. Tertiary ...