Latest update: December, 2019
Last Updated: December, 2019
HIMACHAL PRADESH State Report | December, 2019
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. At current prices, the Gross State Domestic Product of Himachal Pradesh reached Rs 1.6 trillion (US$ 24.18 billion) in 2019-20. The state’s per capita GSDP in 2018-19 was Rs 206,138.09 (US$ 2,857.08). GSDP increased at a Compound Annual Growth Rate of 11.11 per cent between 2011-12 and 2019-20. The tertiary sector witnessed the fastest growth at a CAGR of 12.40 per cent between 2011-12 and 2018-19.
Total merchandise exports from Himachal Pradesh were US$ 1,323.43 million in FY19. Between Apr-September 2019, merchandise exports from the state stood at US$ 659.67 million.
As of November 2019, Himachal Pradesh had a total installed power generation capacity of 4,096.47 MW. Hydro power accounted for 2910.48 MW of total installed power generation capacity, followed by renewable power (943.34 MW) and thermal power (213.70 MW). With a hydro power potential of 2910.48 MW (of which just 24,000 MW has been harnessed), Himachal Pradesh accounts for 25.9 per cent of the country's total hydro power potential. All the villages of Himachal Pradesh were electrified. The state has also attracted investments in other sectors including in pharmaceuticals, IT and food processing industries.
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.
The state (including Chandigarh, Punjab and Haryana) has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 2.15 billion during the period April 2000 to June 2019, according to data released by Department for Promotion of Industry & Internal Trade (DPIIT).
Last Updated: March 27, 2019