State Government giving thrust to make Himachal investor friendly state

Nov 29, 2020 21:22 | Feature & Viewpoint
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The State Government is committed towards sustainable development of the State and is making all out efforts to strengthen the industries sector, as industry plays a pivotal role in the sustainable development. To make Himachal an ideal destination for investment, the State Government is ensuring balanced growth of industrial and service sectors.

State government is giving special impetus to promote industry sector and to attract investors, as a result of which the industrialization in the state has made significant progress.  Himachal has made its journey from traditional herbs to become Asia's largest Pharma hub, from exporting limestone to a manufacturing cement hub, from perennial rivers to becoming a power surplus state, from apples and peaches to Agri Processing Units, started from gurukuls to now emerging as Education hub and from traditional handloom to Textile Park and hub.

To forge ahead the journey of industrial development and to make Himachal Pradesh an investor friendly State, Himachal Government is giving priority to approval of NOC under Section 118, State Level Single Window Clearance is also facilitating the approval process for investing in the state. The Government created policies which include Himachal Pradesh Tourism Policy 2019, IT Policy and Ayush Policy, under which various assistance were being ensured to investors. Film Policy-2019 has been notified to make Himachal first Preference State for film producers.

Himachal Government has notified the Himachal Pradesh Industrial Investment Policy-2019 to create a congenial investment climate for existing industries to grow as well as attract further investment in the State for creating employment opportunities for local youth and to ensure development of 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. The Policy also promotes Ease of Doing Business (EoDB) by digitization of all processes and to promote self certification. Impetus is being given to food processing industry by establishing effective forward and backward linkages, promoting Agro-Horticulture and rural prosperity through the Policy.

The aim of Himachal Pradesh Industrial Investment Policy-2019 is 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. The Policy also aims to promote start- ups and entrepreneurship to create and generate local entrepreneurial base.

To facilitate entrepreneurs, State Government has improved the Ease of Doing Business. Under Ease of Doing Business (EoDB), Himachal Pradesh started its journey from 17th position and now has been ranked 7th in the country and has been considered as the number one State, who has performed exceptionally well in its journey of reforms under EoDB. The State 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. The State has emerged as the leading Hill State and aspiring leader and recognized for regulatory change. The State has also topped in the ranking done by NITI Aayog as regards efforts being made to achieve the Sustainable Development Goals. 

In order to turn the educated youth from job seekers to job creator and to give support to the ‘Startup’ and ‘innovative projects’ in the state and to provide skills to the youth and potential investors to develop entrepreneurship “Chief Minister’s Startup/Innovation Projects/New Industries Scheme” has been started. Till date, about 100 people have benefitted from this scheme in the State, with an expenditure of Rs. 1,69,52,648.

This initiative envisages various incentives for startups so as to enable the entrepreneur’s success in their ventures. It also makes provision of creation of incubation Centers in the host institutions in the State in order to build capacities, develop networking, establish necessary infrastructure and generate awareness.

With an objective of providing impetus to sustainable and inclusive socio-economic development in the state, 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 ground breaking ceremony on the occasion of three years of completion of the State government.