Share of industries in GDP increased to 17.1 percent:Himachal CM

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The State has witnessed revolution in industrialization during recent past and the share of industries in the State Gross Domestic Product (GDP) has increased from1.1 percent in 1950-51 to 17.1 percent in2005-06. This was revealed by Virbhadra Singh, Chief Minister, while addressing the inaugural ceremony of the Himachal Energy Private Limited at Jabli, in district Solan today.

Chief Minister said that although the state was late to industrialization but the earlier years were not wasted but utilized for creation of basic infrastructure required for carrying out industrialization at a faster pace. He said that the state started the process only after it was fully prepared to meet all the requirements of the industrialists, which had been successful. He said that state had 33,474 industrial units today out of which major multinational companies had stepped during preceding three years and the state attracted an investment of about Rs. 24,000 crore and employment prospects for about 2.86 lakh people. He said that with the extension of the industrial package more industries were submitting their proposals for approval by the state Government. He said that it had been possible due to the liberal attitude and flexible policies for the industrialists besides making them available all the basic amenities to start production at the earliest. He said that the state had industrial and investment friendly environment, which had also been contributing significantly towards boosting the industrialization.

Virbhadra Singh said that with the emergence of the global and multinational industries in the state, the quality industries were coming up and best industrial environment was on the anvil. He said that besides all other advantages the state had industrial peace and political stability, which were essential ingredients for ensuring safety of the industrial investment in the state. He said that the extension of the industrial package by the Government of India has proved to be catalyst in boosting industrialization in the state. He said that the state was committed to maintain the momentum of rapid industrialization.

Chief Minister said that with the endeavours of the state government the benefit of 100 percent excise duty exemption for a period of ten years from the date of commencement of commercial production would be applicable to all the industrial houses which set up their units well within the last date of the package. He said that the vast industrialization on the border areas had forced the state Government to modify its industrial policy aimed at dispersal of industrial activities to the other areas where added incentives were available to them. He said that his government had made it mandatory to every industrial house to provide atleast 70 percent employment at all levels to the local unemployed youth.

Chief Minister welcomed the French industrialists Socomec top officials to the state and looked forward to more future collaborations in different ventures in the near future. He assured all cooperation from the state government for development of housing colonies by the industrial houses.

Kuldeep Kumar, Industries Minister, said that employment aspect was being accorded top priority and said that every industrial unit was required to follow the provisions of the industrial policy of the state.

Bernard Steyert, Chairman, Socomec thanked the Chief Minister for his industrial friendly policies and expressed his happiness for being partner in ventures being executed in the State. He said that the company would be looking forward to more joint ventures in the future as well.

Lalit Seth, Chairman, HPL welcomed the Chief Minister and thanked him for dedicating the industrial complex to the people of the state. He also elaborated the benefits likely to be delivered to the State and its people by the new industrial unit.

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