One of the fastest growing states in India, the small, hilly Himachal Pradesh is on its way to rapid industrialisation through co-ordinate and simultaneous development of micro, small, medium sector of industries.
From Cottage industries like Khadi, Leather products, Cane etc. and the emerging Power and Tourism sector, the lush lands of Himachal are witnessing the growth of an unprecedented vibrant entrepreneurial culture.
Equipment Finance Scheme: Under this scheme, quick financial assistance is available to existing small and medium industrial units which are otherwise eligible for financial assistance from HPSIDC and have good record of past performance and enjoy sound financial position. Financial assistance under this scheme is at the prevailing interest rates. Repayment of the loan is required to be made within a period of 2 + 6 years inclusive of moratorium of 6-12 months depending upon the repayment capacity of the borrower.
Bridge Loan Scheme: HPSIDC extends bridge loans against term loans sanctioned by it. The financial assistance under this scheme is generally to the extent of 75% of the sanctioned term loan which can be extended up to 90% in special circumstances, against the security of hypothecation of assets personal guarantee of directors/promoters and/or bank guarantee. This facility is available in case the promoters are unable to fulfill on a timely basis the stipulations laid down during the sanction of term loans due to unforeseen circumstances. Such facility is granted for a period of six months which can be extended for a maximum period up to 12 months.
Central Capital Subsidy Scheme: All new industrial units and existing industrial units on their substantial expansion, would be eligible for Capital Investment Subsidy @ 15% of investment of Plant & Machinery, subject to a ceiling of Rs. 30 lakhs. Micro, Small and Medium enterprises would be eligible for Capital Investment Subsidy @ 15% of the investment in plant & machinery subject to a ceiling of Rs. 50 lakh.
Freight Subsidy Scheme 2013: The quantum of subsidy admissible to an industrial unit would be 75% of the transport costs for movement of raw materials and/or finished goods.
ISO-9000/14000/HACCP Reimbursement Scheme: The Scheme envisages reimbursement of charges of acquiring ISO-9000/ISO-14001/HACCP certifications to the extent of 75% of the expenditure subject to a maximum of Rs. 75,000/- in each case.
MSME-Marketing Development Assistance (MSME-MDA) Scheme: The objective of this scheme is to provide a platform for the worthy MSEs units for exploring new markets for their quality products and make them competitive.
Centre for Entrepreneurship and Innovation (CEI), CENTRAL UNIVERSITY OF HIMACHAL PRADESH: The centre provides comprehensive courses in entrepreneurship.
Micro Small and Medium Enterprises Development Institute: MSME-DI renders Technical Consultancy Services, techno-managerial assistance, training etc. for the development of existing and new micro, small & medium enterprises located in all the 12 districts of Himachal Pradesh.
In Summary – Himachal Pradesh and Entrepreneurship:
With a congenial industrial climate and progressive steps taken by the Himachal Pradesh Government and economic liberalization adopted by the Centre, the opportunities for setting up entrepreneurial ventures have increased manifold in the State. It is up to the local aspiring entrepreneurs to make the most of the growing collaborative and inclusive entrepreneurial network.
To know more about how Himachal Pradesh is building a vibrant entrepreneurship ecosystem, click here.
Data Sources for Himachal Pradesh:
Note: Policy details provided here are for the purpose of information only. Please verify the latest information from the relevant Government or MSME website of the state. Other data and information is curated from various websites and public documents. In case you have any corrections, additions, or suggestions, please share the same with us, and we’ll be happy to incorporate them here.