In a move expected to strengthen investment inflow and employment generation, the BRICS Chamber of Commerce and Industry (BRICS CCI) has entered into a Memorandum of Commitment (MoC) with the Government of Himachal Pradesh. The agreement was signed during the HIM MSME Fest 2026 held in Shimla.
The partnership comes at a time when the state government is focusing on expanding industrial activity, supporting micro, small and medium enterprises (MSMEs), and attracting clean and value-added manufacturing. Under the MoC, BRICS CCI will collaborate with the state to organise joint events, sector-specific seminars, high-impact business forums, and facilitate incoming and outgoing business delegations aimed at trade and investment promotion.
As an early outcome of the collaboration, a Russian investment exceeding ₹500 crore in the pharmaceutical sector has been facilitated through BRICS CCI. The development reflects growing investor confidence in Himachal Pradesh as a hub for innovation-led and value-added manufacturing, particularly in the pharmaceutical sector.
With India set to assume the BRICS Presidency in 2026 under the theme “Building Resilience and Innovation for Cooperation and Sustainability,” BRICS CCI, in association with the Himachal Pradesh government, proposes to organise a BRICS business engagement in Dharamshala in March 2026. The conclave is expected to bring together industry leaders, investors, and trade bodies from BRICS member countries and partner economies.
The proposed Dharamshala event will focus on co-investment opportunities, technology transfer, supply-chain partnerships, and export market access. Key sectors identified include pharmaceuticals, food processing, green mobility, renewable energy, tourism and hospitality, textiles and handloom, IT and AI-enabled services, and agriculture value chains.
BRICS CCI Chairman Harvansh Chawla said the partnership would help position Himachal Pradesh prominently on global investment platforms. “Himachal Pradesh offers a rare balance of competitiveness and sustainability. Through this MoC, we aim to bring sector-focused delegations to the state and ensure that business opportunities are translated into on-ground investments,” he said.
Chief Minister Sukhvinder Singh Sukhu welcomed the collaboration, stating that the tie-up would open new avenues for global capital, technology, and markets. He said the partnership would benefit local entrepreneurs and MSMEs while providing international investors with a stable and future-ready destination, adding that the proposed Dharamshala conclave would help accelerate green, inclusive, and high-quality growth in Himachal Pradesh.
