Industrial Policy
The Government of Himachal Pradesh has accorded priority to rapid
industrialisation in the state with the main objective of generating employment
opportunities and economic development on a sustainable basis. The key
objectives include:
-
To focus on development of quality infrastructure
in the high potential growth centres
-
To achieve economic and social growth in all
regions particularly the industrially backward areas
-
To encourage and sustain the cottage and small-
scale industries.
-
To promote and regulate industrialisation to ensure
environmental protection and pollution control
Promotion of traditional industriesThe state is keen to develop the traditional industries such as sericulture, handloom, handicrafts etc. In order to achieve this, the state plans to organise arts exhibitions to promote the products being manufactured by various industrial units. In order to promote the growth of small-scale industries in the state, the Government announced a rebate on the available rate of interest on loans from 13 per cent to 10.25 per cent*.
EmploymentA central employment cell has been set up with the main objective of
providing technical and highly skilled manpower to the industrial units,
institutions and establishments especially in the private sector.
Infrastructure approvalsAs a part of its new
industrial policy to attract indigenous and foreign investment, the State
Government has approved an investment of US$ 550 million for setting up over a
hundred projects in the medium and large-scale industries.
IncentivesThe Government of India has announced a package of concessions to the
industrial units in the state, which includes 100 per cent outright excise duty
exemption for a period of 10 years from the date of commencement of commercial
production, 100 per cent income tax exemption for the first 5 years and capital
investment subsidy of up to 15 per cent for investment made in plant and
machinery to all new and existing industrial units.
IT Policy
The IT Policy has been formulated to promote entrepreneurship, boost foreign
exchange earnings and increase its contribution to the state domestic product.
The state aims to improve social equity and justice through IT. The primary
objectives of the policy are:
-
To encourage investment in the IT sector
-
To facilitate the establishment of IT institutes
and improve the quality of IT education
-
To use IT tools to ensure a Simple, Moral,
Accountable, Responsive and Transparent
(SMART) government
The State Government has undertaken a number of initiatives to make available
state-of-the-art facilities to further the growth of the IT industry. Some of
the initiatives include:
-
A modern Software Technology Park and an earth
station under the Software Technology Parks of India (STPI) at Shimla to
provide an improved communications network
-
Around 174 acres of government land
has been identified in Solan district for investment in the IT sector
-
IT is deemed as manufacturing activity to benefit
from approved policy of the Government of India
-
Interest subsidy scheme is made applicable for
computer hardware and software industries
-
Electricity tariff is being made available at
industrial rates
-
Special incentive is being offered for investment
of over US$ 2.2 million, also being extended to a Fortune 500 company implementing the project
-
Special incentive package for mega projects,
with investment exceeding US$ 21.5 million
Tourism Policy
The Government announced the Tourism Policy to encourage private sector
participation and create employment in the state. The state declared a 10 year
tax holiday for entertainment units and deferred payment of luxury tax by hotels
and tourism units.
Salient features of the policy are:
-
Creation of wayside amenities along the highways
-
Single window clearance for all tourism related projects
-
Special incentive package for development of satellite towns and cyber cities with investment of over US$ 21.5
million by NRIs and foreign investors
The Government is setting up complexes to promote industrialisation in the
hilly regions of the state. Twelve potential places have been identified for
setting up aerial ropeways.
Realising that tourism is the most labour intensive industry with minimum
capital requirement, the State Government is encouraging local youth to take up
tourism as a profession by training the individuals in various adventure sports.
|
