Himachal has approved 247 investment proposals: Official

Himachal is emerging as one of the favourite destination for investors and the state level single window clearance and monitoring authority has approved 247 proposals during the past three years, an official claimed today.
Out of these, 91 of them are new proposals with an investment of Rs 8852.22 crore whereas 152 of them are expansion proposal involving an investment of Rs 3720.28 crores, an official spokesperson said.
These combined proposals would draw an investment of Rs 12,571.83 crore and provide employment opportunities to 24,760 people, he said.
To fast track the process, the government has introduced a common application for seeking approval of setting up industries in the state.

The authority through this common application form is now according approvals within a period of 45 days.
Himachal Bureau of Investment was also established in the state for speedy clearances of new investments to woo the investors. The focus would be on horticulture, industries and agriculture.

He said that the entrepreneurs in the state are being provided incentives under "Chief Minister Start-up/New Industries Scheme" which is not only attracting new investments but also motivating the entrepreneurs to expand their existing units.
All the new enterprises in the state would now be required to submit only self-certified documents and all the departments would issue provisional registrationwithin 15 daysfromsubmission of the documents, he said.

Land would be provided at concessional rate in the industrial areas to the industries providing employment to 100 people of the state.
The State Government has decided to establish incubation centres in premier institutions in the state to support the start up for which manufacturing sector would also be entitled for purchase preference by Government of Himachal Pradesh/Public Sector Undertakings, the spokesperson said.
Further, the state government has decided that all the industries which employ at least 5 persons and take loan from banks would be provided interest subvention at the rate of 4 per cent up to a loan of Rs 10 lakh for three years.

The state government has also decided that stamp duty for registration of land for new industries would be charged at the rate of three percent only.
In order to facilitate environment friendly industries, Green and Orange category industrieswould be established in designated industrial areas which do not require environmentclearance and granted consent to establish on self-certification without any prior inspection.