Jammu & Kashmir adopts new Industrial policy

Jammu & Kashmir adopts new industrial policy to attract an investment of Rs.2000 crores every year. The policy will hold good for 10 years.

Flash points

• The State Administrative Council under the chairmanship of Governor N N Vohra, approved the Industrial Policy-2016
• The new policy was framed by the Industries and Commerce department
• The new policy sought views from various departments which includes power, finance, law, justice, planning and development, parliamentary affairs etc
• It ensures ease of doing business and emphasizes on Make in India scheme
• The new policy incorporates e-governance for registration of Industrial units in a time-bound manner
• It includes online processing of business proposals, self certification, establishment of green corridor at Lakhanpur, delegation of powers
• It also enables to get clearances from power development department and State Pollution Control Board
• An investment facility cell has been constituted at SIDCO and SICOP

Notable Features

• It plans to attract investments of about Rs.2000 crores every year
• It ensures the ease of doing business
• It helps in generating 15000 employment opportunities
• It helps in restructuring the sick sector and promote their growth
• It targets to create 2500 acres of land banks and provide 150MW power every year
• Through Industrial Grievance cell, the speedy resolution of problems will be assured

Points to note

• Capital- Jammu(Winter ), Srinagar(summer)
• New industrial policy effective till March,2016
• Governor– N.N.Vohra