Himachal Pradesh’s Export Strategy Boost: Exim Bank Presents Growth Plan to CM Thakur Sukhvinder Singh Sukhu

Himachal Pradesh’s Export Strategy Boost: Exim Bank Presents Growth Plan to CM Thakur Sukhvinder Singh Sukhu”

The Exim Bank (Export-Import Bank of India) recently presented a comprehensive export strategy for Himachal Pradesh to Chief Minister Thakur Sukhvinder Singh Sukhu. The Chief Minister highlighted that Himachal Pradesh has evolved into a manufacturing hub for sectors such as pharmaceuticals, textiles, light engineering goods, health, power, telecom, and IT. The state’s exports surged from Rs. 9,822.08 crore in 2019-20 to Rs. 17,543.49 crore in 2022-23, marking a 62% increase, with pharmaceuticals and textiles contributing to 80% of total exports. He emphasized that various efforts have been made to create an investor-friendly environment, earning the state multiple awards from the Government of India. Himachal Pradesh ranks 15th overall in export preparedness and second among Himalayan states.

The Chief Minister also mentioned the development of a medical device park in Nalagarh, Solan district, and a bulk drug park in Una district. Additionally, incentives are being offered to entrepreneurs to establish industrial units in the Baddi-Barotiwala-Nalagarh industrial hub. He expressed gratitude to the Exim Bank team for their valuable suggestions to enhance exports and address related challenges. Exim Bank’s Managing Director, Harsha Bangani, assured the state government of financial support for various sectors. The meeting saw participation from Agriculture Minister Chander Kumar, PWD Minister Vikramaditya Singh, Town and Country Planning Minister Rajesh Dharmani, Ayush Minister Yadvinder Goma, Chief Secretary Prabodh Saxena, Secretary to the Chief Minister Rakesh Kanwar, and other senior officials.

The potential benefits of this export strategy for Himachal Pradesh are immense, including increased economic growth, job creation, and enhanced global trade relationships. By focusing on key sectors and providing necessary infrastructure and incentives, the state aims to significantly boost its export potential, contributing to overall economic prosperity and positioning itself as a leading export-oriented state in India.

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