Trade Analytics

Industrial Development & Economic Growth in Himachal

Latest update: July, 2019

Economic Snapshot
Per capita Income

 

July, 2019

Himachal Pradesh is one of the fastest-growing states in India. Being a sub-Himalayan state, Himachal Pradesh has a varied climate that changes with altitude.

Known as the Land of Gods, is famous for its topographic diversity and pristine natural beauty. Domestic tourist inflows in the state reached 16.09 Lakh in 2018 while foreign tourist arrivals reached 356,000.

Between 2011-12 and 2018-19, the Gross State Domestic Product (GSDP) grew at a Compound Annual Growth Rate (CAGR) of 11.09 per cent to Rs 1.52 trillion (US$ 21.04 billion). Total merchandise exports from Himachal Pradesh were US$ 1,221.66 million in FY18 and stood at US$ 1323.43 million in FY19.

According to the Department for Promotion of Industry & Internal Trade (DPIIT), during April 2000 to March 2019, FDI inflows in the state^ totalled to US$ 2.09 billion.

With a hydro power potential of 27,436 MW (of which 24,000 MW has been harnessed), Himachal Pradesh accounts for 25.9 per cent of the country’s total hydro power potential. As of March 2019, Himachal Pradesh had a total installed power generation capacity of 4,068.13 MW. Hydro power accounted for 2,910.48 MW of total installed power generation capacity.

Himachal Pradesh has made significant achievements in the field of industrialisation in the past few years. The rich natural resources of the state are favourably suited for investments in major sectors such as procurement of agricultural produce, hydroelectric power, cement and tourism. Himachal Pradesh has made significant achievements in the field of industrialisation in the past few years.

The four agro-climatic conditions in the state support cultivation of multiple crops, vegetables and fruits around the year. The state government is focusing on increasing productivity levels besides diversification towards high-value crops. Production of food grains is targeted at 1.67 million metric tonnes in 2018-19.

In an effort to provide infrastructure support to entrepreneurs, the Himachal Pradesh government has developed 41 industrial areas and 15 industrial estates. Solan, Sirmour, Kangra and Una districts lead in terms of investments attracted.

Note: ^ - including Chandigarh, Punjab and Haryana

Himachal Pradesh State Presentation

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Himachal Pradesh Map

Himachal Pradesh