Top 5 Business Opportunities in Himachal Pradesh
Himachal Pradesh is a sub-Himalayan state located to the North of India. The climatic condition ranges from warm to sub-tropical at lower altitudes to icy cold at higher altitudes. Himachal Pradesh is an agrarian economy and agriculture has been a primary source of income in the state. The state is bestowed with diverse agro-climatic conditions and deep, fertile, well-drained soil which tends to be conducive for the cultivation of subtropical and temperate fruits. The state has attracted investments from various sectors such as IT, Engineering, and Pharmaceuticals. The various businesses to execute in Himachal Pradesh are:
Related Projects: – Best Business Opportunities in Himachal Pradesh
- Mineral-based industries: The state is blessed with several significant mineral reserves such as high-quality limestone, gold, quartzite, copper, pyrites, rock salt, gas, and natural oil, iron ore, mica, etc. The mandi district in the state is the only known source so far in India where rock salt is mined. The mineral water of Kalath in the Kullu district is rich in magnesium, sodium, calcium chloride, carbon dioxide, phosphates, sulphates, and iron.
The state-wise distribution of minerals is illustrated below:
Considering the wide availability of mineral resources in the state, it offers an immense scope to set up mineral-based industries.
The expert and skilled NPCS team with a well-defined plan assures higher gains. We offer all the significant information as per project requirements.
- Horti-Culture-Based Business: The total area under the cultivation of fruits was 2, 14, 574 hectares and amounted to 5, 40, 775 tonnes in the year 2011-12 and has been substantially growing. The fruits such as mango, apple, pear, peach, plum, almond, apricot, orange, walnut, litchi, K-lime, and Aonala are popularly cultivated in the state. Apple is the primary fruit of the state constituting more than 76% of the total fruit production and 48% of the total fruit cultivated area. The farmers of Himachal Pradesh are selling fruits not only in the local markets but also to reputed companies for further processing. Considering the wide variety of sub-tropical and temperate fruits available in the state, there is a good potentiality for entrepreneurs to set-up horticulture-based businesses.
- Honey Production: As Himachal Pradesh is the highest producer of fruits in the nation, approximately 2.5 lakh hectares of land is consumed for the cultivation of fruits. Considering the fruit production in the state, bee pollination tends to become very significant. Thus, beekeeping in Himachal Pradesh is not only essential for the growth of honey production but also due to the economical and biological aspects of it. The state government has also initiated the ‘Mukhya Mantri Madhu Vikas Yojna’ to facilitate bee-keeping.
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Due to the wide variety of flora and fauna, the quality of Himachali honey is of very high grade. The ‘White honey’, a distinct type of honey with cancer restraining properties belonging to the Chamba region of the state is rarely available in India and across the globe. As bee-keeping is extensively practiced in the state, there is huge viability for honey production in the state.
- Pharmaceutical Industries: Himachal Pradesh emerged as a hub for manufacturing drugs and meets around 35 % of the demand for pharma products in the Asian continent. Several pharmaceutical companies have set up production and R & D units in the state. The pharmaceutical giants such as Dabur India, Cipla, Cadila Healthcare, Ranbaxy Laboratories, Abbott Healthcare, Panacea Biotech, Dr.Reddy Laboratories, and such others. The reason being various government schemes & policies, cost-effective land, human resource feasibility, and availability of medicinal herbs/plantations as per the requirement of pharmaceutical companies.
Related Projects: – Pharmaceutical, Drugs, Fine Chemicals, Bulk Drug Intermediates, Pharmaceutical Drugs
- Real Estate Business: The prospect of buying a holiday or second home amidst the hilly terrains and scenic nature remains an interesting prospect for investing in property. The state is one of the desirable destinations acquiring prominence and emerging as one of the sought-after locations for investment due to its proximity to the capital city and Chandigarh.
The renowned tourist destinations such as Shimla, Kasauli, and Solan have varied properties such as bungalows, villas, and apartments. There is a growing interest among individuals with high income and net worth to buy property in the state. Thus, establishing a real-estate business is one of the good business opportunities for entrepreneurs.
NPCS is one of the leading brands in the corporate world offering holistic technical consulting. Having researched the market for, ‘Business Opportunities in Himachal Pradesh, executing the same would reap higher revenues!
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