Himachal Pradesh signs MoU with ISB to unlock Rs 22,600 crore forest economy

The Himachal Pradesh Forest Department has signed a five-year Memorandum of Understanding (MoU) with the Bharti Institute of Public Policy at the Indian School of Business (ISB-BIPP). The partnership aims to tap into the state’s estimated Rs 22,600 crore forest and pastoral economy through the implementation of science and technology-enabled governance.

Chief Minister Thakur Sukhvinder Singh Sukhu stated that the initiative seeks to strengthen the rural economy by creating long-term opportunities around forest resources. The government plans to focus on maximizing the potential of locally available species, including medicinal plants like harad and bel, as well as assessing the commercial value of hazelnut (thangi).

The agreement follows a joint forest inventory where over 500 forest guards collected more than 2 lakh tree-level records. This data was integrated with satellite imagery and artificial intelligence to create a comprehensive assessment, which has been compiled in a publication titled ‘Counting Green Wealth’.