In a significant boost to its economic landscape, the Himachal Pradesh government has inked memoranda of understanding (MoUs) worth a staggering Rs 10,000 crore with leading industrialists. The agreements were signed during the three-day Him MSME Fest-2026, where Chief Minister Sukhvinder Singh Sukhu engaged with top CEOs and entrepreneurs from India and abroad at Peterhoff in Shimla on Sunday.
Major Investment Inflows and Policy Revamp
A total of 37 MoUs were finalized, paving the way for setting up new enterprises across the state. On the occasion, CM Sukhu declared that a new industrial policy will be introduced soon, aimed at fostering an investment-friendly ecosystem. He emphasized the government's continuous efforts to position Himachal Pradesh as a reliable and attractive destination for investors.
Green Mobility and Infrastructure Boost
Outlining a visionary plan for sustainable transport, the Chief Minister announced that all 22,000 petrol and diesel taxis in the state will be phased out and replaced with electric vehicles (EVs). To facilitate this massive transition, the state will launch a new scheme offering a substantial 40 percent subsidy on EVs. Furthermore, a tender will soon be floated for operating buses using green hydrogen fuel, marking a pioneering step in clean public transport.
Addressing long-standing concerns, Sukhu assured that issues faced by entrepreneurs related to Section 118 will be resolved. He also committed to reducing logistic costs in industrial areas, strengthening infrastructure, and promoting the textile industry.
Mega Projects and Tourism Focus
The CM highlighted several landmark projects. He confirmed that the state has paid its entire share for the Baddi-Chandigarh railway line to the central government. In a major boost to aviation, land acquisition for the Kangra airport is slated for completion by March 31 this year.
To supercharge the hospitality sector, the government will grant permission for opening 200 new five-star hotels. Sukhu reiterated that tourism remains a special priority. In an ambitious urban development plan, he announced the creation of a world-class city named 'Him Chandigarh' near Chandigarh, within Himachal Pradesh.
Power and Pharma: Key Enablers for Growth
To ensure industrial competitiveness, the CM promised uninterrupted 24-hour power supply to industries at the lowest possible rates. He also spotlighted the Bulk Drug Park in Una as a monumental achievement. The park, which recently received final environmental clearance for 568.75 hectares, involves a capital cost of Rs 2,071 crore. It has the potential to attract investments between Rs 8,000 crore and Rs 10,000 crore and generate approximately 15,000 to 20,000 direct and indirect jobs.
These sweeping announcements signal the state government's aggressive push to diversify its economy, create massive employment, and establish Himachal Pradesh as a frontrunner in sustainable industrial development.
