CII's Economic Summit in Himachal Pradesh sparks optimism: UK commits to doubling investments by 2030

Caroline Rowett, the British Deputy High Commissioner of India based in Chandigarh, delivered a keynote address, expressing the United Kingdom's commitment to doubling its present USD 36 million trade with India by 2030.

In a significant initiative to foster economic growth and sustainable infrastructure in Himachal Pradesh, the Confederation of Indian Industries (CII) organized a one-day economic summit in Shimla. Nearly 100 delegates, including representatives from the industrial sector and government officials, convened with the aim of reviving growth momentum and encouraging investments.

Caroline Rowett, the British Deputy High Commissioner of India based in Chandigarh, delivered a keynote address, expressing the United Kingdom's commitment to doubling its present USD 36 million trade with India by 2030. Rowett said, "The United Kingdom is looking forward to the present 36-million-dollar trade to double by 2030. There is a need to decarburizing infrastructure and ambition to create a more sustainable future. The UK is working with the Transport department in Himachal Pradesh for sustainable nobilities. There is a need to build sustainable infrastructure. In Construction and real estate stricture there is a need for Radical changes to achieve net zero and also stress upon the low carbon heating system. There is an ambition to create a more sustainable future and Infrastructure supply organizations and experts would be working in regards to that. She said that the UK has also started investing in Small-scale biogas solutions."

Rowett emphasized the need for decarbonizing infrastructure, creating a more sustainable future, and collaborating on sustainable mobility with the Himachal Pradesh Transport Department. The UK is actively investing in small-scale biogas solutions and is dedicated to building sustainable infrastructure.

"The trade between the two countries is 36 million Pound and we are hoping to double that by 2030. The reference to that is the ten-year roadmap which was signed by the Prime Ministers of Two countries (India and UK) in 2020. It is really bringing together the past, present and future connections and celebrations between our two countries", stated Rowett. Rowett said, "We are doing lots more and we see the potential to do lots more between the two countries in a wide range of fields that can be the E-Mobility, climate change, technology, defence and the living bridge which is a unique bond between the two countries. There are lots of potential and both countries will make sure that we can make that potential. We have been working on an E-mobility project in Shimla."

"We are looking at the options as we know Shimla is a congested city and has expanded rapidly over the years. We are showing the British expertise how Shimla can benefit and how they would consider its future. That's how to control the traffic congestion in the city. This is a funded project of the UK Aspire programme as we have expertise from an area where we have similar problems in northern Scotland", added Rowett. Rowett also stated, "Encouraging tourism is important but you have to balance that with the sustainable infrastructure in the area that you are promoting. We would be happy to share expertise in the UK with Himachal and how we can help in building back better after the damages created by monsoons and UK has expertise on how to build building back better and I am sure we can share that with Himachal".

The Economic Summit also saw the Principal Secretary of the Industry Department of the Himachal Pradesh government addressing the challenges faced by the state post-monsoon disasters and the efforts being made to streamline industries. Industry Minister Harshvardhan Chauhan affirmed the government's commitment to supporting industries in the state, offering incentives to existing industries, and attracting new investments.

He highlighted the success of initiatives such as the Bulk Drug Park and Medical Device Park, signifying the state's progress in the industrial sector. Chauhan said, "The CII has organized the Economic submit, I would like to thank the organizers Gagan Kappor that all important Industrial houses were present in it. I have assured them the best possible support from the government. We want new investment in the state and also new incentives would be provided to old industries in the state. We have a bulk Drug Park and Medical Device Park in Himachal Pradesh which is moving forward rapidly".

Chauhan added, "We want more investment in the state. In one year we have made through MOU of over 4500 Crore rupees and 3500 Crore rupees MOUs were signed for Bulk Drug park and in one year we have signed MOUs of over 10000 Crore rupees in Himachal Pradesh, there is no industrial escape in Himachal Pradesh no Industry is leaving Himachal Pradesh, no big houses have escaped so far from the state". "We want to make Himachal Pradesh a green State, we are promoting the industrial sector also with green imitation. We introduced all E vehicles in Shimla and in Days to Come CM will launch 500 New E Taxes in the state that would provide employment to the youth in the state and would encourage environmental preservation", said Chauhan.

Chauhan outlined the state's vision to become a green hub, promoting industrial growth with an emphasis on environmental sustainability. He announced upcoming initiatives, including the launch of 500 new electric taxis to encourage employment and environmental preservation.

The CII's Himachal Pradesh Economic Summit concluded with a positive outlook, showcasing the collaborative efforts between government and industry to drive economic development in the region. (ANI)

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