Shimla : Himachal Pradesh on Monday signed memorandum of understanding (MoU) with 159 companies that will attract an investment of over Rs 17,000 crore and provide employment opportunities to 40,000 people, the government said.

It said three MoUs were signed with PSUs (public sector undertakings) for an investment of Rs 1,115 crore; 88 for the Department of Industries for Rs 5,243 crore; 36 for the Department of Tourism and Civil Aviation for Rs 2,810 crore; 17 for the Department of Urban Development for Rs 4,332 crore; and five for the Department of Transport for an investment of Rs 2,780 crore, among others.

Speaking on the occasion, Chief Minister Jai Ram Thakur said the state was coming up with new policies for industry, tourism, warehouse and logistics, information technology, e-vehicles, films and Ayush to provide more attractive incentives to the entrepreneurs.

Presiding over the MoU signing ceremony here under the Himachal Pradesh Global Investors Meet, he said efforts would be made to ensure online clearances under Section 118 to ensure fast clearances of the projects.

Section 118 of the Himachal Pradesh Tenancy and Land Reforms Act of 1972 makes permission mandatory for non-agriculturists in the state to buy property other than what is offered by the state housing board.

Thakur said a holistic approach had been adopted by the government to attract investments.

He said the state offers great scope for investment in sectors like tourism, education, healthcare and food processing.

The Chief Minister said the new industrial policy aims to establish state-of-the-art infrastructure, promote the manufacturing sector, enhance inclusivity, foster innovation and create employment opportunities across the sectors.

He said the entrepreneurs willing to set up new industry or undertaking expansion would be entitled to 30 per cent Capital Investment Subsidy subject to a maximum of Rs 5 crore on plant and machinery under the Industrial Development Scheme of the Government of India.

He said the state government would be holding the Global Investors Meet in June in Dharamsala.

Industries Minister Bikram Singh Thakur said the state was committed to make sustainable tourism one of the prime engines of growth by establishing it as a leading global sustainable tourism destination.

—IANS