Industrial Policy
The new industrial policy framed by the J & K administration for making it an industrial hub is showing results on the ground. Recently the government said in parliament that they have received a huge investment for Jammu and Kashmir.
The focus of the Jammu & Kashmir Industrial Policy 2021-30 is to attract new investment, creation of employment opportunities for youth, development of backward regions and nurturing of existing industrial units.
Adequate provision has been kept for providing incentives to prospective entrepreneurs as per Jammu & Kashmir Industrial Policy 2021-30. The financial outlay of the proposed scheme is Rs 28,400 crores for the scheme period 2020-21 to 2036-37. Scheme while encouraging new investment, also nurtures the existing industries in J&K by providing them working capital support at the rate of 5% for 5 years.
The J&K Government is set to hold its first J&K Global Investors Summit with an objective to bring together investors, decision-makers, senior government officials and local business community for a dialogue on concrete investment opportunities in the state. It will be replete with Strategic Sectoral sessions, Round Table Deliberations, one-to-one Business to Business (B2B) and Business to Government (B2G) meetings. The main objective behind the summit is to increase the employment opportunities by accelerating the industrial growth in the newly carved UT.
