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As J&K announces new industrial policy, companies approach govt to set-up manufacturing units

Last Updated on January 28, 2021 at 12:59 pm

As J&K administration has announced a new industrial policy for the Union Territory, prominent business houses and manufacturers have contacted the industries department for setting up their manufacturing units especially in Jammu Division.

A senior officer from the Department said that many business houses with a majority of manufacturers from across the nation have approached the Industries Department for establishing their units in various districts of Jammu Region. However, the notification defining guidelines for the implementation of the new industrial policy has not been yet issued.

The officer claimed that business houses are willing to establish their manufacturing unit of raw material, medicines, engineering units and service industry among others. A quite prominent company of hospitality sector wants to establish their units at Katra, and another one is willing to establish their unit in Reasi district.

The officer said that they have reserved land-banks for establishing these industrial estates. He said that the administration is quite satisfied with the response they have received. The big companies have also expressed their interest in the tourism/service sector. However, most of the companies want to establish their manufacturing units.

In Udhampur region, over 8500 kanals of land has been transferred to the industries department and the land is undergoing development at Chenani, Ramnagar, Tikkri, Mand, and BattalBallian.

However in Samba district, the official said only four local and outsiders have approached the government for establishing their units in the region. Their investment value is not more than Rs 10 crores. A senior official said that they have also not received any major response in Kathua district too.

Earlier, the Lt Governor Manoj Sinha announced a new Industrial Developmental Scheme (IDS) with a total amount of Rs 28,400 crore. The aim of this scheme is to encourage new investment and industrial development even at the block level in J&K UT. This scheme is scheduled to start from the date of notification and will function till the year 2037.

Lt Governor has also chaired an Administrative Council which approved that investors can lease the land within 30-45 days for a total time period of 40 years. Moreover, this time period can also be stretched up to 99 years under the norms of J&K Industrial Land Allotment Policy 2021-30.