States are now competing with each other to provide enabling ecosystems for investors, rather than a competition of concessions and discounts, Prime Minister Narendra Modi said on Thursday while inaugurating the two-day Rising Himachal Global Investors Meet in Dharamshala.“Prime Minister said that in the last few years States have realised that this competition of offering discounts or concessions to industrialists were of no benefit to anyone – either to the State or to the Industrialists. He said it is essential that there is an enabling ecosystem for investors to invest in the States, where it is free of the Inspector Raj and the need of permits at every stage,” a statement from the Prime Minister’s Office said.He added that unwanted laws and government interventions helped in slowing down progress. Citing the changes made by his government, the Prime Minister said India had improved 79 places in the Ease of Doing Business Rankings from 2014 till 2019.“Every year we are improving in each parameter. Improvement in these rankings means that our Government is making decisions after a thorough understanding of the needs at the grass roots level for the industry,” he said.Speaking about the Himachal Pradesh government’s steps, including single-window clearance, he said the State has a huge potential for conference tourism.Chief Minister Jai Ram Thakur said the State government had a target of attracting investment of ₹85,000 crore and had been able to sign 603 MoUs worth ₹92,439 crore, a Himachal Pradesh government statement said.Pharma research hubMr. Thakur added that the government was interested in developing the State as a research and development hub for pharmaceuticals. He also said that the State government would soon set up an investment promotion authority to facilitate investments.