Himachal Pradesh Chief Minister Virbhadra Singh Tuesday invited industrialists from Tamil Nadu to invest in his state and offered them attractive incentives.
Singh told representatives of more than 125 industrial houses that Himachal Pradesh offered great potential in hydropower, tourism, automobile components, food processing and IT.
Singh, who is on a week-long tour of the southern states, was speaking at a session organised by the Confederation of Indian Industry (CII), the Tamil Nadu government and the central commerce ministry.
He said Himachal Pradesh offered a pollution free environment and abundant and cheap power. The industries would be provided income tax holiday, excise duty concessions and investment subsidy on machinery.
"Himachal Pradesh offers tremendous opportunities for investment in IT and IT-enabled services, bio-technology, auto components sector and horticulture," Singh said.
The chief minister also announced the "Partnership HP" programme. Automobile giant Ford will partner with the state government to set up a Himalayan Ski Village at Rs.12 billion.
Singh said a biotechnology park is being set up at Solan at Rs.2 billion. An integrated tourism development project is being planned for Pong lake in Kangra district, Gobind Sagar lake in Bilaspur district and Chamera lake in Chamba district.
These projects will have a sanctuary, sport complex and resort.
A tunnel-cum-overbridge project is being undertaken to connect Kalka and Shimla at Rs.10 billion.
Singh said Himachal Pradesh had the capacity to generate 21,000 MW of hydropower. "It is low cost and environment friendly power. We have more tourists than residents and are putting the infrastructure in place," he said.
Singh is being accompanied on his tour by state Industries Minister Kuldeep Kumar, Tourism Minister G.S. Bali and senior officials.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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