Modi to open Himachal's first investor summit on Nov 7

Prime Minister Narendra Modi will inaugurate two-day Himachal Pradesh's first global investors' summit this week that will see participating of Union ministers Amit Shah, Nitin Gadkari, Piyush Goyal, Prahlad Patel and Anurag Thakur along with who's who from the industry and foreign investors.

The investors' summit Rising Himachal from November 7 to 8 in Dharamsala aims to attract investment in the agri-business, food processing and post-harvest technology, manufacturing and pharmaceuticals, tourism, hospitality and civil aviation, hydro and renewable energy, among others, sectors, Chief Minister Jai Ram Thakur said here on Sunday.

"During the summit, we plan to provide a platform to bring together heads of the state, leaders from the corporate world, policymakers, development agencies, heads from institutions of international repute and academia from across the world to further cause of socio-economic development in the state," he told the media.

"During international road-shows and meeting with Indian industrial houses in five months, we have got tremendous response from them. We will be leveraging our potential and opportunities at the summit," he said.

The state has set a target of attracting investment of Rs 85,000 crore and has signed memorandum of understanding (MoUs) for the investment more than Rs 83,000 crore so far.

"We would showcase progressive policies backed by fast-track project clearances, continuous investment in upgradation of infrastructure development, human capital and social welfare. Such initiatives have made Himachal Pradesh as the preferred destination in India for entrepreneurs," Thakur told .

The first Global Investors' Meet aims to generate employment opportunities and encourage entrepreneurship.

It would also inculcate an ecosystem that supports its stakeholders to excel in a variety of economic activities.

"We aim to promote Make in Himachal and to boost the share of the state in the exports," said Industries Minister Bikram Singh.

"We already have investment commitments from both global and domestic investors in key sectors like manufacturing and pharmaceuticals, tourism, hospitality and civil aviation, hydro and renewable energy, wellness, and Healthcare among others," Chief Secretary Shrikant Baldi said.

Himachal Pradesh's economy is highly dependent on hydroelectricity, horticulture and tourism.

State's economic growth is expected to be 7.3 per cent this fiscal and its per capita income is estimated at Rs 1,76,968, according to the economic survey report.

In 2017-18, 16.92 lakh tonnes of vegetables were produced against 16.54 tonnes in 2016-17, a growth of 2.3 per cent.

Tourists footfall in the state last year declined to 164.50 lakh, that included 3,56,568 foreigners, from 196.02 lakh in 2017. It was the highest in 14 years.

( With inputs from IANS )