CM For Comprehensive Trade Policy, Fixes 03 Months Deadline for Its Formulation

KL Report


Chief Minister, Omar Abdullah Thursday fixed three months time period for the formulation of Trade Policy for the state by a Committee of experts constituted in this regard to address all the issues concerning development of trade, commerce and industry in the state.

“The Committee should come up with a comprehensive proposal taking care of all issues relating to industrialization, job creation and generation of wide-ranging economic activities in the industries, handicrafts, trade and commerce sectors,” Omar said while chairing 24th Industrial Advisory Committee meeting here. He added that the industrial package to encourage investment by locals and outsiders should simultaneously aim at generating employment for locals in the industrial units.

As per the official records 29,000 industrial units are presently functional in the state generating employment for 1.32 lakh persons. The Commissioner Secretary Industries said 15 Industrial Estates with 34,000 kanals have been established in the state and more 6,700 kanals are being brought under new Industrial Estates. He said 3.5 lakh artisans are associated with handicrafts sector and the export of handicraft items has touched Rs. 1538 crore.

As per a statement Omar also said the growth of industry; trade and commerce should be symbiotic in nature. “While unit holders get facilitated and helped through the package of incentives to earn handsome returns, the generation of jobs for locals in these units should necessarily reflect in the growth and development of trade, commerce and industries in the state,” he added.

Development of handicrafts, handlooms and artisans associated with various handicrafts in the state need focused attention to help them improve their lot and contribute positively in the economic welfare of the state, said Omar.

The statement further reads that the meeting discussed in detail the matters relating to 3 % interest subsidy to the industrial units, brand promotion, extension of Government of India incentives, VAT refund, extension of VAT remission, toll tax exemption, power infrastructure improvement, issues relating to Pollution Control Board, creation of industrial infrastructure, marketing support, role of JKDFC for development of MSME sector in J&K, on-line registration, setting up of new industrial units etc.

The meeting was attended by Deputy Minister, Tara Chand, Chief Secretary, Mohammad Iqbal Khandey, Economic Advisor to the Government, Jalil Ahmad Khan, Principal Secretary, Planning and Development, B. R. Sharma, Chairman Pollution Control Board, Vinod Ranjan, Principal Secretary Finance, B. B. Vyas, various Commissioner Secretaries, Administrative Secretaries and Commissioner Secretary Industries Department, Farooq Ahmad Factoo.


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