Himachal Pradesh Industries Corporation to Invest in Modernization

The Himachal Pradesh General Industries Corporation (HPGIC), led by Industries Minister Harshwardhan Chauhan, plans to modernize its manufacturing plants by reinvesting profits. The corporation approved the purchase of new machinery, CSR initiatives, and reported a profit of Rs 13.37 crore amidst competition and minimal manpower.

Industries Minister Harshwardhan Chauhan has instructed the Himachal Pradesh General Industries Corporation (HPGIC) to reinvest its profits into modernizing its manufacturing plants. His directive came during the 236th board meeting, underscoring the corporation's commitment to staying competitive.

In a move to upgrade facilities, the board sanctioned a tender for new machinery aimed at revamping the furniture factories of HPGIC. This strategic investment is intended to meet the increasing demand for modern furniture from both the public and private sectors within the state.

Despite operating with limited resources, HPGIC reported a profit of Rs 13.37 crore, while also approving significant CSR contributions. These include funding for the state's Anti-Chitta Campaign and the construction of a school building in Sirmaur.

(With inputs from agencies.)