New industrial policy to focus on ‘Make in India’ initiatives

JAMMU: The State Administrative Council SAC which met here today under the chairmanship of Governor NN Vohra approved the industrial policy for the state

Updated At : 06:22 AM Mar 15, 2016 IST

Tribune News Service

Jammu, March 14

The State Administrative Council (SAC) which met here today under the chairmanship of Governor NN Vohra approved the industrial policy for the state.

Formulated by the Industries and Commerce Department, the new policy shall remain effective till March 31, 2026, said an official spokesperson.

It has been formulated after thorough discussion with all stakeholders and in concurrence with the Finance, Planning and Development, Power Development, Forest, and Law, Justice and Parliamentary Affairs departments, the spokesperson added.

Following instructions from the Governor, most forward looking steps have been taken in the new policy to achieve targets under the “Make in India” programme, said the spokesperson.

A procedure has been laid out for registration of industrial units within a time-bound manner through e-governance interface. It includes online processing of business proposals, self certification, establishment of green corridor at Lakhanpur, delegation of power and time-bound clearances from other departments, including the Power Development Department and the State Pollution Control Board.

The new policy will help in creating business-friendly environment which will facilitate investors to establish industrial units and pave the way for the establishment of mega units, including that of electronic city in the state, said the spokesperson.

For the revival of sick industrial units, the policy envisages setting up of an ‘Asset Reconstruction Company’ in partnership with J&K Bank.

To facilitate investors, an investment facility cell has been constituted at the State Industrial Development Corporation and Small Scale Industries Development Corporation.

It also focuses on creating entrepreneurship and skill development fund for training entrepreneurs.

Environmental protection through setting up of green industries and adoption of green technologies has also been incorporated in the policy.

It further includes setting up of Industrial Grievance Forum to speedily sort out grievances and solve interdepartmental matter faced by entrepreneurs.