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Himachal Pradesh's potential as investors' hub huge: Modi

Himachal Pradeshs potential as investors hub huge: Modi

Dharamshala: As Himachal Pradesh on Thursday rolled-out red carpet for Global Investors at this picturesque hill town, Prime Minister Narendra Modi joined the government's drive to inspire new investors calling the state as an ideal destination with a huge scope for the investments.

Prime Minister, who flew in here on Thursday morning, inaugurated the two-day event, aimed and designed to hard sell Himachal Pradesh potential in eight key sectors viz agri-business, food processing, manufacturing, pharmaceuticals, tourism & hospitality beside, hydro-power, renewable energy and wellness.

First of its kind event, the event witnessed has participation of 11 ambassadors with UAE as the main business-partner, apart from ensuring the presence of foreign and Indian investors, including business giants.

Addressing the Investors and delegates, the Prime Minister, terming the state's initiative significant move to strengthen India's economy, said the regime of extending concessions to the industry to woo investments have failed to yield results.

"The scenario has changed altogether. Now, it's all about creating an atmosphere free from licence raj and unnecessary rules, and regulations. The lesser interference of the government, ease of business and single-window clearances are things which an investor requires, and appreciates," he declared.

Modi said in today's global scenario, if India is standing strong, it is because it has not let the fundamentals of its economy weaken. The states competing with each other in economic development and attracting new investments is an encouraging trend.

Modi claimed that states have now understood that incentives do not help better governance. They do not help the industry or investors in the long term. A well-equipped ecosystem is integral for any investor today. The rise in this competition will help our industry grow better at the global level," PM said.

India is now among the top 10 performers in Ease of Doing Business and has improved its rank by 79 points between 2014 and 2019, he added.

Talking about Himachal Pradesh, Modi said Himachal Pradesh has fully geared itself up to rewrite its growth story. Himachal Pradesh doesn't lack anything to pose itself as a business model. It has vast opportunities. Being a peaceful state is its biggest strength, besides its rich culture, geographical and linguistic diversity. A high literacy rate puts it at a high advantage. Earlier, Chief Minister Jai Ram Thakur, welcoming Modi, informed that against a target of Rs 85000 crore investments, the state government has already signed MoUs worth Rs 92,439 crore. The state will soon also set-up Investment promotion authority.

Brand Ambassador for Investors' Meet and Bollywood actress Yami Gautam presented Himachali cap to the Prime Minister. Ambassador of UAE in India Ahmed AI Banna spoke about bilateral relations between UAE and India.

Ashwani Sharma

Ashwani Sharma

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