Last Updated: June 15, 2015
Latest update: August, 2015
Last Updated: August, 2015
HIMACHAL PRADESH State Report | August, 2015
Himachal Pradesh is located in the northern region of India. The state is surrounded by Jammu and Kashmir on the north, Punjab on the west and the south-west, Haryana on the south, Uttar Pradesh on the south-east and China on the east.
Himachal Pradesh is one of the fastest growing states in India. The gross state domestic product (GSDP) grew at a compound annual growth rate (CAGR) of 10.2 per cent between 2004-05 and 2014-15. Its per capita GSDP is estimated at US$ 2,008.5 during 2014-15 compared with the national per capita GDP of US$ 1,389.61.
With a hydro power potential of 27,436 megawatt (MW) (of which just 9,433 MW has been harnessed), Himachal Pradesh accounts for 25.9 per cent of the country's total hydro power potential. The state also boasts of a high level of village electrification; about 17,484 of 17,495 villages had been electrified by the end of May 2015. The state has also attracted investments in other sectors including in pharmaceuticals, IT and engineering industries.
The State Government of Himachal Pradesh offers a wide range of policy and fiscal incentives for businesses under the Industrial Policy, 2013. The state has also undertaken other policies such as Tourism Policy 2005 and IT Policy 2001 for upgradation of these sectors in the state.