Himachal Pradesh Government has said that it was providing various incentives to create a congenial investment climate and to motivate entrepreneurs to invest in the State.
It said the diverse agro-climatic conditions create huge potential for agro based industry in the State which also has immense potential for hydel power generation. Representing the State Government in the India-China Investment Conclave held at New Delhi, Deputy Resident Commissioner Vivek Mahajan said the State had investor friendly and responsive administration which was continuously striving to streamline and simplify the procedures. Industrial and certain tourism units were being given 15 percent investment subsidy on their plant and machinery. Besides, the industrial units were also getting 75 percent freight subsidy for transportation of the finished goods and raw material from their factory site to the nearest designated rail heads, he said.
Mahajan said the State was also providing other incentives, concessions and facilities related to local taxes, labour laws and land allotments etc. The concessions were being also offered in stamps duty, relaxed FAR norms, reduced ClU charges and electricity.
He said the biggest advantage of the State was availability of quality power at one of the cheapest rates in the country. The State was also providing incentive of reduced rate of CST at the rate of one percent on the goods manufacture in the State by the new industry.
Mahajan expressed hope that with these incentives and congenial investment environment available in the State, large number of entrepreneurs would be attracted to invest in Himachal Pradesh.