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Jammu & Kashmir adopts new Industrial policy

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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 departmentJammu & Kashmir adopts new Industrial policy
  • 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