Srinagar, Jan 31: The PHDCCI Kashmir chapter has demanded specific incentives /subsidies to new investment projects for each local hired under the new Industrial Development Scheme of J&K.While ‘wholeheartedly welcoming’ the recent investment initiatives on J&K, Baldev Singh Raina chairman of PHDCCI Kashmir chapter said that what was needed is a ‘simultaneous process of considering carefully the needs of local entrepreneurs and start-ups on priority.’
“Towards that we expect government will encourage local investors by organising local diaspora investors meet within J&K that will create and help in job creation at a larger scale”, Mr Baldev said in a statement to Ziraat Times.
Mr Baldev further added that PHDCCI expects an assurance by government through Budget provisions or announcements offering an incentive/ subsidy to investors for employing local unemployed youth of J&K. As whole country has watched in past and recently also the Haryana and other states Maharashtra, Andhra Pradesh, Karnataka and Madhya Pradesh have tried to reserve private corporate jobs for locals. So there is need for such kind of arrangement for unemployed youth of J&K in all investment projects and infrastructure projects, he added.
Baldev Singh Raina said that it was alarming that J&K was having 15% unemployment rate as per CMIE data, which is almost 3 times the national unemployment rate in the country.
“We are very much hopeful that the upcoming Union Budget will address this burning issue of J&K”, Mr Baldev observed.
He further stated that “the dangerous consequence of unemployment are cropping up as we are witnessing that unemployed youth remain alienated from their family and isolated from society which is leading to depression and drug addiction and even some of them are indulging in immoral activities.”
Baldev Singh further said that J&K was experiencing a curious phenomenon of unemployment of educated people, as there is a mismatch between the education being imparted and the need of the economy to sufficiently absorb the actual required human resource and that skill gap also needs to be addressed in consultation with stakeholders.
“The other issue that is directly affecting the livelihood of Kashmir is horticulture industry for which we are expecting that the government in upcoming budget will address the issue of homegrown apples that have been facing a stiff competition from duty-free apples being imported from Iran under the India-Afghanistan Free Trade Agreement. We are expecting government will impose non-tariff barriers to stop the import of Iranian apples.”, he added.
“The positive vibes that we are now observing are particularly the recent initiatives taken by the J&K government by attracting investors on a larger scale around the globe with substantial investments, that will definitely generate employment and economic development of region with a ray of hope for local unemployed youth”, he added.
