‘889 units with Rs 18,185 cr investments working on ground’
By Mar-April, 324 more units will start operations
Sanjeev Pargal
JAMMU, Jan 24: Lieutenant Governor Manoj Sinha today expressed confidence that amount of the Industrial Development Scheme (IDS) of Jammu and Kashmir will be enhanced as both Prime Minister and Home Minister have given assurance to this effect and said 889 industrial units with Rs 18,185 crore worth investments are now working on the ground.
Speaking after inauguration of ‘BRICS Youth Council Entrepreneurship Run-up Event’ at the Indian Institute of Management (IIM) Jammu, Sinha said there was such a tremendous response to the Industrial Development Scheme for Jammu and Kashmir formulated by the Government of India in 2021 that entire amount of incentives to the tune of Rs 28,400 crore has been exhausted.
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“We received a large number of proposals and many industrial units have been established too. Entire amount of incentives (Rs 28,400) crore has been exhausted. Prime Minister (Narendra Modi) and Home Minister (Amit Shah) have assured that the incentives will be increased. We are waiting for an early response,” he said.
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The Lieutenant Governor said 889 industrial units with Rs 18,185 crore worth investments are now working on the ground while production has been started by the units established at the cost of Rs 6624 crore.
“By March-April this year, 324 more industrial units with Rs 9538 crore worth investments will start working,” he disclosed and said many industrial units couldn’t be given land due to shortage.
However, Sinha said, the administration is trying to increase the industrial land bank and create more Industrial Estates.
He said no other State or areas has better incentives for the industries than the Industrial Development Scheme announced by the Central Government for Jammu and Kashmir in 2021. It was because of this scheme that J&K received huge investment proposals from across the country as well as abroad and, due to response, the incentives were exhausted.
The Lieutenant Governor hoped that the Industrial Development Scheme will play major role in changing future of Jammu and Kashmir. He said the results of Central sector Industrial Scheme are clearly visible in Jammu and Kashmir in the form of industrial revolution.
An official handout said:- the Lieutenant Governor congratulated the Ministry of Youth Affairs & Sports, the Global Counter Terrorism Council (GCTC), IIM Jammu and all other associate departments for providing a dynamic platform for innovators, aspiring entrepreneurs, youth leaders to showcase innovative business ideas and entrepreneurial initiatives.
He highlighted the transformative initiatives of the Government through the Department of Industries & Commerce that have redefined innovation and entrepreneurship ecosystem and empowering youth of the UT.
“In the past few years J&K’s Industrial ecosystem has witnessed an unprecedented surge, supporting the culture of innovation, research & development and scientific advancements. I want to see our youth among top-notch entrepreneurs of the country, contributing to its growth,” Sinha said.
He said the sincere efforts and policy interventions of the government have made J&K a vibrant startup hub.
The Lieutenant Governor also shared the key initiatives including Mission Yuva to develop a business support ecosystem for the enterprising youth of J&K. He said, reforms are being made in the education sector with a dedicated focus on skilling the youth in the technology of Industry 4.0.
“We continue to focus on policies to promote incubation centres and to provide better resources and support to set up new startups. I want our youth to dream, dedicate and develop dynamic J&K and propel its growth trajectory to new heights,” he said.
The Lieutenant Governor further emphasised on the need to bridge academia-industry disconnect to meet the future challenges. He said the human resources should be equipped with the skills required by the market and industries.
He said the Youth entrepreneurship mission today is important not only for India but the entire world and the countries from both Global North and Global South are looking at their massive demographic dividend to meet the biggest developmental challenges of 21st century.
The Lieutenant Governor also emphasized on the role of educational institutions and youth in developing India as knowledge economy and realising the vision of Viksit Bharat.
Prof. B S Sahay, Director IIM Jammu shared the vision of IIM Jammu to develop the youth as business leaders and entrepreneurs.
A detailed presentation highlighting the key objectives of Mission Yuva was also presented on the occasion.
Atal Dulloo, Chief Secretary; heads of departments, senior officials, members of Global Counter Terrorism Council, young entrepreneurs, innovators, youth leaders and industry experts were present.
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