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The state of Himachal Pradesh, located in the northwest of India, is at the forefront in attracting investments - especially in the construction and manufacturing sectors. The state government is creating an attractive investment climate by announcing various investment-friendly policies and initiatives. Investment in the manufacturing sector of the state shot up by 95.5 per cent, while that in the construction sector rose from US$ 48.2 million as of March 2006 to US$ 492.6 million as of March 2007.
The state’s GDP grew an impressive 12.93 per cent between 1999-2000 and 2006-07 to reach US$ 7 billion. Medium and large scale industries account for 80 per cent of investments and 45 per cent of the employment in the state. Sectors in this state that are ideally suited for investments include hydroelectric power, cement and tourism among others.
Himachal Pradesh has also emerged as one of the fastest growing region for the pharmaceutical industry in India. More than 300 pharmaceutical firms have set up base in Himachal Pradesh, including leading pharmaceutical companies such as Dr Reddy's Laboratories, Cipla and Ranbaxy among others.
State Presentation (FY 2008-09)
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