Government finalizing new industrial policy to offer cheap power to industries

Shimla: In a bid to boost manufacturing and attract fresh corporate investments, the state government is finalizing a comprehensive new industrial policy. Announcing the move, Chief Minister Sukhvinder Singh Sukhu stated that the upcoming framework will feature significantly subsidized power tariffs alongside streamlined regulatory approvals for emerging businesses.

Addressing key industry stakeholders at an economic summit, the Chief Minister emphasized that sustainable economic growth relies on a robust industrial ecosystem. He assured business leaders that the government is actively resolving long-standing infrastructural and supply-chain bottlenecks to create an investor-friendly environment.

Key Policy Highlights:
Subsidized Power Rates: The state plans to offer competitive, concessional electricity tariffs to energy-intensive and manufacturing units to reduce operational costs.

Ease of Doing Business: Single-window clearance systems will be further digitized to eliminate bureaucratic delays in setting up new enterprises.

Focus on Green Energy: Industrial parks will receive prioritized access to renewable power sources, aligning regional production with national climate targets.

The Chief Minister highlighted that the policy will place special emphasis on employment generation for local youth. Companies establishing units in remote and rural areas will be eligible for additional capital subsidies and tax relaxations.

Industry associations have welcomed the announcement, noting that affordable power is a crucial prerequisite for industrial competitiveness. The policy draft is currently undergoing final inter-departmental consultations and is expected to receive formal cabinet approval later this month.