Srinagar: Federation Chamber of Industries Kashmir (FCIK) has welcomed the New Industrial Policy 2021-30 by J&K Government, saying that the policy had ‘infused hope among J&K’s entrepreneurs’.
In a media statement, President FCIK Shahid Kamili said that the industry is hopeful that it will promote sustainable, equitable growth in all the regions of J&K.
“The new industrial policy has included various new sectors in Positive List and focus sector has been expanded to include Tourism & Hospitality, Health, Education, Renewable Energy etc. in addition subsidy on genset to tune of 45 lakhs & 60% on pollution devices. Further, 30% subsidy on Quality certificates & automation also 50 percent subsidy on green environment protection initiative has been provided”, the statement said.
FCIK appreciates the Government for fixing a timeline of approval of cases at different level. This reflects the seriousness of the Government in reviving industry in J&K. The turnover based incentives and SGST reimbursement will ensure accountability and to promote genuine enterprenuers, FCIK President said.
The DIC shall approve the incentive cases up to Rs 5 lakh in the District Level Committee and the incentive cases from Rs 5 lakh to Rs 50 lakh shall be approved by Division Level Committee while the incentive cases exceeding Rs 50 lakh shall be approved by UT Level Committee.
The industrial units procuring quality certification like ISO, ISI, BIS, FPO, BEE, AGMARK, ECOMARK etc shall be given a subsidy of 30 percent of the total cost incurred for obtaining the said certificate, subject to a maximum of Rs 2 lakhs.
The Secretary General, Ovees Qadir Jamie said that the Policy needs to be have much needed focus on the existing unit holders, who need marketing cushion from the Government to revive their units which are struggling to compete due to unfavorable conditions and withdrawal of marketing support as per various orders issued by government.
‘FCIK offers every kind of support to Govt in implementing the policy and will act as bridge between Government and Unit holders for achieving desired outcomes of the Industrial Policy’, the statement said.