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Himachal

Accelerating Growth through Investment

April 10, 2023 08:37 PM

Accelerating Growth through Investment

 

One Stop Solution: Bureau of Investment Promotion in offing

The State Government is working on providing an investment friendly environment to the investors in the State, so that Himachal Pradesh can emerge as a favourite investment destination for the entrepreneurs. The Government proposes to set up a dedicated "Bureau of Investment Promotion" in the State. It will help in providing all clearance and approvals in a time bound manner under one roof, thereby enhancing the momentum of investment in the State. This proposal would play a pivotal role in providing Plug-and-Play interface to the investors making Himachal as an "Ideal Investment Friendly State" of the Country.

This bureau will be a  one stop solution for inviting investment in various sectors such as Industries, Tourism, Food Processing, Ayurveda, IT/Information Technology Enabled Services (ITeS),  Power, Health and Education Institutions. Through these sectors the Government is aiming to generate an investment of Rs. 20,000 crore and this bureau will play an important role in achieving the target. It will not only boost the ease of doing business in the State but will generate 90,000 direct and indirect employment opportunities for the local youth.  

The entrepreneurs have an important contribution in building an advanced and developed Himachal Pradesh and the state government is determined to provide better facilities to the potential investors. The Government is resolved to simplify the procedures for establishing industries in the state with an objective to attract maximum investment and concrete steps are being taken to provide an investment friendly environment in the state.

      Regular meetings and interactions with the potential entrepreneurs and big players of industries are being held to showcase the investment potential of the State. All the approvals required for industries are being accorded in a time bound manner so that the industry and the people of the state may be benefitted at large.

Apart from this, the State Government is laying special emphasis on expansion of rail connectivity and roads in the state, as this will facilitate the industries in transportation of raw materials and transportation of finished products. Special stress is being laid on eco-friendly industries such as units related to information technology (IT), bio technology, electric vehicle, pharma units, etc.

       Emphasis is also being laid on attracting investment in tourism and allied sectors as it has immense potential both in terms of investment and employment. Since the State Government has set a target to make the state a green energy state by the year 2026, thus there is good scope of investment in green hydrogen units, EV components etc.

      From small businessmen to big industries, various facilities and benefits are being provided from time to time.  MoUs worth Rs. 2110 crore have been signed for Bulk Drug Park at Una and Medical Device Park at Nalagarh.

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