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Himachal Pradesh's State Domestic Product (SDP) stood at US$ 3.9 billion in
2003-04, registering a growth rate of 7.9 per cent over the previous year. The
per capita income at current prices witnessed an increase of 10 per cent from
US$ 466 in 2002-03 to US$ 539.7 in 2003-04.
Source: Economic Review 2003-04, www.indiastat.com
In the long-term, the economy has shown a shift from agriculture to
industries and services and the percentage contribution of agriculture and
allied sectors in total SDP declined from 57.9 per cent in 1950-51 to 20.1 per
cent in 2002-03. The share of industries and services sectors increased from 1.1
and 5.9 per cent in 1950-51 to 13.7 and 19.4 per cent in 2002-03 respectively.
Himachal Pradesh is still predominantly an agricultural state providing direct
employment to about 71 per cent of the total population.
Source: www.indiastat.com
Economic growth has enhanced the affluence levels in the state. The
percentage of population below poverty line is the lowest at 7.6 per cent
against 26.1 per cent at the national level. The state is one of the largest producers of horticulture products in the country. The
agriculture allied sectors like fisheries and dairy had also shown promising
performance in 2003-04.
Rice, wheat and maize are the major cereal crops produced in the state. Maize
production had grown at a Compounded Annual Growth Rate (CAGR) of 5.4 per cent
during 1996-2002 with a high yield of 2,550 kg/hec against the national average
of 2,018 kg/hec.
Source: www.indiastat.com
Source: www.indiastat.com
The industrial sector in the state has performed well over the years. The
state is in the top quartile in the country in terms of per capita gross output
and value added in industries.
Source: www.indiastat.com
Source: www.indiastat.com
With an annual turnover of over US$ 1 billion, the state has 196 medium and
large enterprises and about 30,886 small enterprises with a total investment of
US$ 640 million. Some of the key industries include iron foundries, resin &
turpentine, breweries, fertilisers and electronics. The weaving of woollen
garments is a key cottage industry.
Services is the emerging sector in the state. The sector had shown a
promising growth of 1 1.9 per cent as against 6.7 per cent growth in the state's
income in 2002-03. The state has undertaken many initiatives to enable growth of
the sector. Tourism is one of the main sectors in the state with an impressive
CAGR of 17.5 per cent during 1998-2003.
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