Indian state invites UAE investments

Imran Mojib, Special Correspondent

Chief Minister of the north Indian State of Himachal Pradesh, Jai Ram Thakur, has urged Indian business leaders in the UAE to participate in the development of the state by investing in promising sectors and assured them attractive returns on their investment.

During an interactive session with the Business Leaders Forum in Dubai on Monday, the chief minister projected Himachal Pradesh as an attractive investment destination in sectors such as horticulture, tourism, pharmaceuticals, energy, food processing, logistics, education and skill development.

The chief minister is on a four-day UAE visit to invite Indian and Emirati business leaders to attend the inaugural edition of “Rising Himachal: Global Investors’ Meet 2019”, which will be held at Dharamshala on Nov.7-8, 2019.

Inviting business leaders to the summit, the chief minister said that Himachal Pradesh is an ideal place to set up businesses as it has industrious human capital, an abundance of power that is amongst the cheapest in the country, and attractive industry policies.

“We have envisioned transforming Himachal Pradesh as the preferred destination in India for entrepreneurs. Today, one of our industrial estates is termed as ‘Asia’s largest Pharma hub,” he said.

The state government has come up with a number of incentives to attract investment that includes up to 70 per cent reimbursement of state GST (Goods and Services Tax), plot of land available in industrial areas at a discounted rate, and up to 15 per cent concession on power tariff.

Industry Minister of Himachal Pradesh Bikram Singh explained the progressive policies of the state government like Single Window Clearance, continuous infrastructure development, investment in upgradation of human capital and social welfare that has made it the ideal destination for investment.