The participants are Anne Norbu, 19, Kunga Tsetan 19, Rinchen Dolma, 23, from North-east state Sikkim while Rachna Dhiman, 18, and Thinley Yangchen, 22, are from Kangra and Spiti in Himachal Pradesh respectively.
There are no Tibetans taking part in the beauty contest.
The pageant is known as 'Miss Himalaya Pageant: For Peace and Environment'.
"Miss Himalaya Pageant is a way to celebrate the mighty and majestic Himalaya, the peace-loving people and their unique culture, and the pristine environment around the Himalayan mountain range," said organiser Lobsang Wangyal.
Wangyal said that except for a little help from his friends, the pageant lacks any major sponsorship and is entirely funded and produced by himself. He said the event will be annual.
The crowned winner will bag a cash prize of 1 lakh rupees and the second and third runner-up will receive 50 thousand and 25 thousand rupees respectively.
Wangyal Productions, which also holds the Miss Tibet contest every year, had deferred the same because of self-immolations by the Tibetans inside Tibet this year.
The Miss Tibet pageant has remained a successful event throughout and has been held for the last ten years.