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Saturday 23 March 2019
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HP Govt hoping to attract Rs.85000-cr investment from Global Investors meet

The Government of Himachal Pradesh is expecting to attract investment of Rs. 85000 crore from Himachal Pradesh Global Investors Meet proposed to be held at Dharamshala in District Kangra in June, 2019. The state is also hoping to get employment opportunities to thousands of youth.

Apart from the event at Dharamshala, 6 National road shows in prominent business centres of the country as well as 3 International road shows and 5 mini conclaves within the state would be organised before the event. An ambassador’s round table would also be organised at New Delhi. The exact programme, locations dates and number of these events would be decided in consultation with the National Partners of the meet.

All the investable proposals would be included in 8 broad sectors namely, Agri- business Sector including Horticulture, Animal Husbandry and fisheries; Industry including food Processing and Pharma; Tourism & Hospitality sector including Eco- Tourism; Power; Ayurveda including Health Care & Aayush: PWD including Infrastructure, Logistics & transport: Information technology, Electronics, Skill Development & Education and Urban Development including Housing and real Estate Sector.

Industries Minister Bikaram Singh Thakur clarified that the Global Investors Meet is not confined to any one Department but all the Departments have a very vital and significant role to play in making the meet a success and they will have to determine and define their direct or indirect role and contribution in the Event for themselves, especially if they do not directly perceive their role in the afore mentioned 8 sectors. It was also emphasised that the division of all avenues of potential investment in the state into 8 sectors is only broad and generic and additions or alteration therein cab be made on need basis which the Execution cum Monitoring Committee would review from time to time.

Minister has asked all the Departments to prepare their specific and time bound action plan and reforms which need to be carried out for facilitating investment in the Pradesh and for taking tangible steps in ensuring further ease of doing business in the State.

Departments have been asked for identification of sub sectors/ areas for potential investment besides preparing a list of investable projects and information regarding availability of government or private land for such projects. Simplification of procedure and system of obtaining regulatory approvals for such projects. In case, the Departments have already identified a few of such projects, they should take expeditious if Interest to invite bids for such projects. All the Departments should review their schemes and incentives for facilitating investments in their sectors and for making them more attractive for potential entrepreneurs. The procedure of processing applications for grant of permission for lease of land for investment in projects under section 118 of H.P. Tenancy and Land Reforms Act, 1972 needs to be fast tracked and made time bound and unnecessary or repetitive steps need to be eliminated. The Revenue Department would also make this process online for more convenience, transparency and better monitoring.

Industries Minister said a separate policy for promotion of MSME sector in the State would be formulated. The process of seeking approval of projects under the Single Window System would be further simplified.

A Common online web portal/platform would be devised for receiving investment proposals for all the sectors and Departments. A proposal for creation of a State level Investment Promotion Agency on the pattern of Invest India and the arrangement in other State would be moved.

The process for inviting bids, floating EOIs and RFPs and finalizing and signing of MoUs would be initiated by all the Departments immediately. They should not wait for the main event at Dharmshala of June 10-11, 2019 to enter into MoUs or awarding projects to potential investors. rather, all the MoUs and other agreements entered into with prospective entrepreneurs hence forth would count towards the achievement of targets assigned to various sectors and departments.



Rahul Bhandari is Editor of TheNewsHimachal and has been part of the digital world for last eight years.