Industrial policy likely to be put before Cabinet in Dec

Seema Kaul

New Delhi, November 25

Minister for Industries and Commerce Chander Prakash Sharma has said the 10-year industrial policy for the state is likely to be put before the Cabinet and cleared by the year-end.

“The draft is complete and one last review of the industrial policy is pending. We will place it before the Cabinet in December,” Chander Prakash told The Tribune. The focus of the policy will be ‘Make in India’ and ease of doing business. The policy will include a single-window clearance for projects and its thrust will be to expand the industrial area of the state.

Jammu, Kathua, Samba, Anantnag, Budgam and Pulwama are the districts which will be in zone ‘A’ and entitled to a 3% interest subsidy on bank loans. The remaining 16 districts of the state will be in zone ‘B’ and granted 5% interest subsidy on bank loans.

“We are trying to create an industrialist-friendly climate in the state to attract investors from outside the state,” he said. The Industries and Commerce Department was headless for about two months due to a bureaucratic reshuffle, adversely affecting the drafting of the industrial policy.

As part of the new policy, the Department of Industries and Commerce is in the process of acquiring more land for industries from the state government.

The state government has also reduced excise duty on power by 12% for industries. The power tariff for industries is around Rs 3 per unit. “We are already providing 24X7 power in the industrial areas. We will give the same in new industrial areas,” said Chander Prakash.