Himachal Pradesh is the leader in hydropower generation in India, with five perennial rivers flowing through the state. The state ranks second in apple and almond production.
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.
At current prices, Himachal Pradesh’s gross state domestic product (GSDP) is estimated to be Rs. 2.14 trillion (US$ 25.92 billion) in 2023-24.The state’s GSDP (in Rs.) increased at a CAGR of 8.16% between 2015-16 and 2023-24.
Total exports from Himachal Pradesh stood at US$ 2,147.46 million in FY22, and US$ 909.47 million in FY23 (until August 2022).
As of April 2023, Himachal Pradesh had a total installed power generation capacity of 4,489.90 MW, comprising 2,030.19 MW under private utilities, 1,062.21 MW (state utilities) and 1,397.50 MW (central utilities). Himachal Pradesh has immense potential for hydropower as it is naturally blessed with abundant streams and rivers flowing down from towering mountains.
The State Government of Himachal Pradesh offers a wide range of policy and fiscal incentives for businesses under the Industrial Policy, 2017. The state has also undertaken other policies such as Tourism Policy 2005 and IT Policy 2001 for upgradation of these sectors in the state. Himachal Pradesh has announced a Revised Solar Policy 2016, under which it plans to establish 700 MW of solar photovoltaic cell capacity.
Himachal Pradesh will have the world’s longest and highest tunnel by 2025, which will connect Zanskar Valley in Ladakh to Lahaul in Himachal Pradesh, and will be 4.25 km in length.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Himachal Pradesh were valued at US$ 194.86 million between October 2019-March 2023.
Raksha Mantri, Mr Rajnath Singh dedicated 44 major permanent bridges, to provide better connectivity to remote areas across seven states and union territories. He also laid the Foundation Stone for Nechiphu Tunnel in Arunachal Pradesh.