Himachal to host investment summit

In order to attract investments, the Himachal Pradesh government is organising a two-day summit here to highlight the state's industry friendly policies.
"Emerging Himachal - Investors' Meet" will be organised in association with industry body CII on October 5-6 in Delhi.
During the summit, in which leading industry players are expected to participate, the state will highlight advantages and pro-business policies such as tax incentives, availability of land, power, water, skilled labour and single window clearance system.
Himachal Pradesh has been a preferred investment destination for sectors such as tourism, food processing, IT & ITES, pharma, hydro power, automobiles, auto components and electronics manufacturing, said a statement issued by the state government.

The government is making efforts to develop the state as a favoured destination for investors, which will create job opportunities for the youths, it added.
Himachal Pradesh is offering several incentives like luxury tax exemptions for tourism projects, 15 per cent capital investment subsidy for MSME and Large industries and 50 per cent stamp duty exemption for major industries.
Besides, the government has established a 'Single Window Clearance and Monitoring Authority' headed by Chief Minister to simplify procedure and for granting approvals for medium/large scale industrial projects.
Moreover, the statement said, the state government has introduced a combined online application process for the industry for clearances of their projects which has time bound of 45 days.