Besides, the state government has also made it possible for entrepreneurs to invest by bringing in investor-friendly policies, he said.
Speaking on the second and final day of the Rising Himachal Global Investors' Meet here, Goyal said the presence of a large number of entrepreneurs in the summit reflected how Himachal Pradesh has opted for a higher growth trajectory and was marching ahead on the path of development.
The Union Minister urged the participants to explore opportunities in the tourism sector.
He said the state has highest literacy rate and the initiatives taken by it to make Himachal Pradesh hum with industrial activity are commendable.
"We are working hard to achieve the goal of $5 trillion economy," he added.
Himachal Pradesh Governor Bandaru Dattatraya said the state offers one of the lowest power tariffs in the country, which was an added attraction for entrepreneurs.
Chief Minister Jai Ram Thakur said that, so far, 614 pacts have been signed that would attract an investment of Rs 93,000 crore.
Union Minister of State for Finance and Corporate Affairs Anurag Singh Thakur said the summit is bound to change the economy and socio-economic scenario of the state.
He said that development of the MSME sector is a priority for the Union government.
( With inputs from IANS )