HP govt focuses on business-friendly environment and investment
ECONOMY & POLICY

HP govt focuses on business-friendly environment and investment

Chief Minister Sukhvinder Singh Sukhu stressed that the highest priority of the Himachal Pradesh state government is to create a business-friendly environment. In a recent statement, he revealed the government's aim to attract an investment of approximately Rs 200 billion in various sectors including manufacturing, tourism, energy, construction, and housing. This investment has the potential to generate direct employment for around 40,000 individuals and indirect employment for approximately 50,000 people.

To position Himachal Pradesh as an appealing destination for investment in the country, the state government has implemented several new policies. These policies include the provision of incentives such as discounted power rates, simplified credit facilities through the State Finance Corporation and nationalised banks for establishing new industries. Additionally, the government is offering land on lease at affordable rates, exempting new industries from sales or purchase tax, and granting concessions on transportation charges for raw materials. Various marginal benefits are also being provided.

The government plans to extend financial assistance for dental clinics, e-taxi purchases, solar power projects up to 1 MW, fisheries projects, and other enterprises under the Rajiv Gandhi Swarozgaar Yojana. A uniform subsidy of 50 per cent will be offered to eligible sections for e-taxi purchases.

Chief Minister Sukhu noted that 99 per cent of enterprises in the state fall under the Micro, Small, and Medium Enterprises (MSME) category. The Industries Department will conduct a comprehensive survey of these enterprises to identify their issues and address them appropriately. The establishment of Unity Mall is proposed to promote the One District One Product concept.

The state government is also considering eliminating the requirement of an Essentiality Certificate from industrialists to encourage more investments. This provision will be included in the upcoming New Industrial Policy.

Furthermore, the government is establishing the Bureau of Investment Promotion within the Industries Department, which will replace the current single-window system. This Bureau aims to streamline the process for potential investors by providing all necessary clearances through a single platform.

The state government will address the delays in obtaining permissions under Section-118 of the HP Tenancy and Land Reforms Act, 1972. Major industrial areas will witness improved infrastructure to facilitate industrialists, and power supply in these areas will be enhanced to ensure uninterrupted electricity for industries, as stated by the chief minister.

Also Read
India and EFTA take steps towards new trade agreement
India's new Foreign Trade Policy aims for $2 trillion in exports by 2030


Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Chief Minister Sukhvinder Singh Sukhu stressed that the highest priority of the Himachal Pradesh state government is to create a business-friendly environment. In a recent statement, he revealed the government's aim to attract an investment of approximately Rs 200 billion in various sectors including manufacturing, tourism, energy, construction, and housing. This investment has the potential to generate direct employment for around 40,000 individuals and indirect employment for approximately 50,000 people. To position Himachal Pradesh as an appealing destination for investment in the country, the state government has implemented several new policies. These policies include the provision of incentives such as discounted power rates, simplified credit facilities through the State Finance Corporation and nationalised banks for establishing new industries. Additionally, the government is offering land on lease at affordable rates, exempting new industries from sales or purchase tax, and granting concessions on transportation charges for raw materials. Various marginal benefits are also being provided. The government plans to extend financial assistance for dental clinics, e-taxi purchases, solar power projects up to 1 MW, fisheries projects, and other enterprises under the Rajiv Gandhi Swarozgaar Yojana. A uniform subsidy of 50 per cent will be offered to eligible sections for e-taxi purchases. Chief Minister Sukhu noted that 99 per cent of enterprises in the state fall under the Micro, Small, and Medium Enterprises (MSME) category. The Industries Department will conduct a comprehensive survey of these enterprises to identify their issues and address them appropriately. The establishment of Unity Mall is proposed to promote the One District One Product concept. The state government is also considering eliminating the requirement of an Essentiality Certificate from industrialists to encourage more investments. This provision will be included in the upcoming New Industrial Policy. Furthermore, the government is establishing the Bureau of Investment Promotion within the Industries Department, which will replace the current single-window system. This Bureau aims to streamline the process for potential investors by providing all necessary clearances through a single platform. The state government will address the delays in obtaining permissions under Section-118 of the HP Tenancy and Land Reforms Act, 1972. Major industrial areas will witness improved infrastructure to facilitate industrialists, and power supply in these areas will be enhanced to ensure uninterrupted electricity for industries, as stated by the chief minister. Also Read India and EFTA take steps towards new trade agreementIndia's new Foreign Trade Policy aims for $2 trillion in exports by 2030

Next Story
Infrastructure Urban

Osaka Expo 2025 to Feature World’s Largest Wooden Structure

Osaka Expo 2025 will showcase the world’s largest wooden structure—a spectacular canopy encircling the 155-hectare exhibition grounds. Designed by architect Sou Fujimoto, the structure combines cutting-edge technology with Japan’s thousand-year tradition of wooden construction to create a futuristic yet sustainable landmark.“This is the biggest wooden construction in the world, so we used the latest technology alongside Japan's ancient craftsmanship to achieve a futuristic design,” Mr Fujimoto said. Rigorous testing ensured the strength of the beams and joints for the immense structu..

Next Story
Infrastructure Energy

India ranks 6th globally with 127 Net-zero firms

India has secured the sixth position globally in corporate climate action, with 127 companies committing to net-zero targets under the Science- Based Targets initiative (SBTi), according to the latest report from ICRA ESG Ratings.Although India contributes approximately 7 per cent of global emissions, its corporate commitments reflect a growing awareness of climate concerns. However, high-emission sectors such as power, energy, and cement are lagging in adopting these goals.The report reveals that fewer than 10 per cent of firms in these high-emission sectors, which contribute to 55 per cent o..

Next Story
Infrastructure Energy

Power prices fall 31% amid renewable push

The average price of electricity traded on India’s power exchanges during October-November 2024 fell by 31 per cent year-on-year (YoY) to Rs.3.61 per unit in the Day-Ahead Market (DAM), down from Rs.5.23 per unit in the same period last year. Similarly, Real-Time Market (RTM) prices dropped by 29 per cent to Rs.3.59 per unit, compared to Rs.5.04 per unit a year ago, as per industry data. The price drop was driven by a surge in renewable energy generation, particularly hydro and wind power, supported by favourable monsoon conditions. Improved fuel availability and government-led ini..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000