Himachal Pradesh, one of the most beautiful states of India, is ready to woo investors with lucrative policies.
And with this regard, the state is fully geared up for ‘Rising Himachal’ its two-day-long Global Investors’ Meet, which is scheduled to be held on 7 and 8 November at Dharamshala.
With around 6 lakh spindles, Himachal Pradesh has units of some of the leading textile conglomerates of the country like Vardhman Group, which has 9 of its factories in the state.
And there’s more! The state also has around 16 big units of other textile stalwarts like Indorama, Sutlej Textiles, Winsome Textiles and others. Besides, there is a textile park as well in the district of Una.
Paragon Apparels, Gini and Jony and few well-known apparel manufacturers also have their apparel manufacturing units in the state.
It is noteworthy that cotton yarn, man-made yarn, and cotton fabrics contribute 7 per cent, 5 per cent and 4 per cent, respectively, as far as the export of the state is concerned.
More on the investment, Anil Thakur, Deputy Director, Department of Industries, Himachal Pradesh told Apparel Resources, “We do focus on apparel and textile industry and are ready to facilitate any investor of this industry. Some leading textile players will also be a part of our Investor Meet.”
It is pertinent to mention here that Himachal Pradesh is ranked number 1 in UN Sustainable Development Goals amongst the Indian States. The state does have its industrial investment policy 2019 and Single Window Act.
Some of the few interesting initiatives include, ‘MSME’ enterprises that have an investment of up to Rs. 10 crore in plant and machinery would be reimbursed 50 per cent of the expenditure incurred towards the cost paid to the consultant for preparation of DPR.
Similarly concession to the tune of 50 per cent, 60 per cent & 70 per cent of rate/premium fixed for land or industrial sheds in categories A, B and C, respectively, will be given to enterprises provided they commence commercial production/operation within 2 years of handing over the possession of land or within a period of 1 year of handing over the possession of industrial shed, as the case may be.
Besides, reimbursement of Net SGST will be paid to the State Government under H.P. GST Act 2017 @ 50 per cent, 80 per cent and 90 per cent for a period 7 years, up to a maximum of 80 per cent of the fixed capital investment in category.