Lt Governor announces new industrial policy for J&K



Says beginning of new era for UT’s prosperity, development

BK News

Srinagar, Jan 7: Lt Governor Manoj Kumar Sinha announced a new industrial policy for Jammu and Kashmir in a press conference held in Jammu on Thursday.

The scheme or policy, which has been named as ‘Central Sector Scheme for Industrial Development of Jammu and Kashmir’, was approved by Prime Minister Narendra Modi led Union Cabinet on Economic Affairs a day before

The total financial outlay of the proposed scheme is Rs 28,400 crore for the scheme period of 16 years from 2020-21 to 2036-37. You can read complete details of the policy here.

“Modi Govt’s decision to approve the New Central Sector Scheme for Industrial Development of Jammu and Kashmir will boost economic development in the region and enhance ease of living,” LG Sinha, said, as was tweeted by the J&K’s Department of Information its official Twitter handle.

He said the policy will help also in nurturing the existing industries in J&K and will generate about 4.5 lakh direct and indirect jobs.

“We wholeheartedly thank PM Narendra Modi for approving the New Central Sector Scheme for Industrial Development of Jammu & Kashmir. This will help in creating employment in agriculture, horticulture, sericulture, inland fisheries, animal husbandry and dairy (sectors),” the Lt Governor said.

He said the development will reach every village of the region. This is the start of a new journey of development. It is the beginning of a new era of progress and prosperity for the Union Territory.

It will enable the region to compete nationally with other leading industrially developed States and UTs of the country, he added.

“The New Central Sector Scheme for Industrial Development of Jammu and Kashmir will give a boost to domestic manufacturing in the region & help J&K in becoming Aatmanirbhar.”

The main purpose of the scheme is to generate employment beyond government jobs in both manufacturing and service sectors which directly leads to the socio-economic development of the region.

The scheme is being implemented with the vision that industry and service led development of J&K needs to be given a fresh thrust with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones.

The Lt Governor, while giving out the details of the scheme, emphasized that it will be ensured that the implementation of the new scheme shall be done in a manner which is friendly and hassle free to the investors. It will be ensured that entrepreneurs from within J&K and outside find a smooth and progressive ecosystem for their business plans, he added.

“With our transparent policies, investments in developing infrastructure, market-oriented policy environment and skilled human capital, we aspire to become a growth pillar for India in the current decade,” the LG said.

He further said that Government and Industry will work closely to achieve the vision of the holistic and balanced development of Jammu and Kashmir.

The Lt Governor also appreciated the Industry and Commerce Department for working hard to materialise this scheme in continuous consultation with the Government of India. He also thanked the business associations and all who contributed through their valuable suggestions.

Chief Secretary BVR Subrahmanyam; Financial Commissioner, Finance Department, Arun Kumar Mehta; Principal Secretary, Power Development Department and Information Department, Rohit Kansal; Principal Secretary to the Lt Governor, Nitishwar Kumar; Commissioner/Secretary, Industries and Commerce Department, Manoj Kumar Dwivedi; Divisional Commissioner, Jammu, Sanjeev Verma; IG Jammu, Mukesh Singh, besides some other senior officers of the government were present at the occasion.



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