Business Opportunities in Himachal Pradesh

Tourism

One of the most visited North Indian State by international & domestic tourists & recognized as Asia’s #1 paragliding site, Tourism contributes 7% to Himachal Pradesh’s GDP and the state aims to increase the share to 8.5 % by the end of 2022

The state is famous for its Himalayan landscapes and popular hill stations.

The state attracted about 17.2 mn tourists in 2019.

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Power

With five perennial rivers flowing through the state, Himachal Pradesh has the potential to contribute 26% of the total hydropower potential of India

The State has an estimated hydro potential of 27,587 MW; out of which 10,948 MW has been assessed as harnessable.

It has a total installed hydropower generation capacity of 2,910 MW

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AYUSH and healthcare in Himachal Pradesh

Pharmaceuticals

Himachal Pradesh has emerged as the largest hub for drug manufacturing units in Asia, meeting 35% of the demand of Pharma formulation in Asia. The state has a widespread presence of over 300 pharmaceutical companies, including Ranbaxy, Dr Reddy’s, Morepen and Torrent Pharmaceuticals and 700+ Pharma Formulation Manufacturing Units.

In FY22 (till February 2022), exports of drug formulations and biologicals from the state stood at US$ 975.08 mn.

65+% of the geographical area is covered with forests & having a high diversity of medical and aromatic plants is also positioning Himachal Pradesh as an ideal paradise of Aromatherapy. The state is also active in Ayurvedic treatments through 2 regional ayurvedic hospitals, 34 district ayurvedic hospitals, 1,039 ayurvedic health care centres, 143 AYUSH Health & Wellness Centres and 3 Unani Health Centres

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Agro and Food Processing

Ranks 2nd in production of Apples & Almonds in the country

With four favourable agro-climatic zones, Himachal Pradesh is one of the largest producers of off-season vegetables viz. capsicum, tomato, peas, cabbage, cucumber, and exotic fruits viz. Persimmon & Kiwi.

The State has availability of 1 dedicated Mega Food Park, 18 Chain projects, 29 Food Processing units having capacity of 86,150 MT/KL, testing laboratory, and land bank for industry, standing as a testament to the presence of world’s leading food processing players in the State, including Britannia, TATA, Cremica, ITC, Pepsico, and Nestle.

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Medical Devices

The first Medical Devices Park in northern India spread over 265 acres has been approved by the Government of India in Nalagarh, Solan

Himachal Pradesh is ranked #1 among ‘North-Eastern/Hill States’ in India Innovation Index 2020 & is recognized as the best performing State in Bio-Medical Waste Management by CPCB (2020)

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Urbanisation Rate

Females/ 1000 Males

Female/Male Ratio

Demographics

About 66% of Himachal Pradesh's population is in the working age group of 15-59 years.

Himachal Pradesh stands at the 20^th position in terms of population amongst all states in India. The state's population of 6.9 mn is equivalent to the population of Bulgaria.