Trade Analytics

Industrial Development & Economic Growth in Himachal

Latest update: May, 2018

Economic Snapshot
Per capita Income

 

May, 2018

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. Agriculture contributes nearly 45 per cent to the net state domestic product. It is the main source of income as well as employment in Himachal.

Between 2011-12 and 2016-17, the gross state domestic product (GSDP) grew at a compound annual growth rate (CAGR) of 11.48 per cent to Rs 1.25 trillion (US$ 18.67 billion).

With a hydro power potential of 27,436 MW (of which just 9,755 MW has been harnessed), Himachal Pradesh accounts for 25.9 per cent of the country’s total hydro power potential. As of April 2018, the state had a total installed power capacity of 4,038.68 MW of which 2,910.48 was contributed by hydro power.

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.

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.

Government has signed MoUs for the establishment with major cement players like Harish Cement (Grasim) at Sundernagar (Mandi district), India Cements Limited at Gumma-Rohaha Shimla), and Lafarge India Limited at Alsindi (Mandi).

State government has approved a new project on management of horticultural crops in the state. World Bank has approved a funding of US$ 166.7 million for this project

Himachal Pradesh State Presentation

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Himachal Pradesh Map

Himachal Pradesh