Those investing in J&K will have to give employment to local youth: Dy CM
The deputy chief minister (CM) Surinder Choudhary on Wednesday said that those who set up industries in Jammu and Kashmir will have to provide employment to local youth.
Responding to queries raised by BJP MLA Rajiv Jasrotia and NC MLAs Saif-ud-Din Bhat and Mubarak Gul during question hour in the legislative assembly here, Choudhary said, “The house has a genuine concern. The local youth have suffered over the years but the Omar Abdullah government is committed to its promise of creting job avenues for our youth. If anyone has to invest in the industrial sector, they have to provide employment to local youth.”
“Investors will have to provide employment to local youth and we will ensure this,” he added.
Choudhary informed the House that the Omar government has laid special emphasis on industrisl sector.
Replying to a supplementary question by Jasrotia, Choudhary further said, “We will not allow the lands of the people of J&K to be given to outsiders. Whatever is right will be done.”
“We want development of the industries but not at the expense of our people,” he added.
He informed the house that CM Omar held meetings with various stakeholders in the industrial sector.
“It is a fact that the local industry faced losses during the past 10 years and our youth also suffered because nothing was done for creating job avenues for them. But the Omar government is committed to provide them jobs and we will ensure that those investing in Jammu and Kashmir give employment to our youth,” he said.
Choudhary said the key highlights of the Jammu and Kashmir Industrial Policy 2021-30 aim to bolster industrial growth across various sectors, focusing on manufacturing, IT, agriculture, food processing, healthcare, pharmaceuticals, infrastructure, real estate, herbal and medicinal plants, among other sectors notified by the Jammu and Kashmir government.
He said the incentives under the policy include a 100% subsidy for the purchase and installation of DG sets (up to ₹45 lakh), exemption of stamp duty and court fees on land transactions in government industrial estates.
He further said other incentives include a 25% subsidy on automation, a 30% subsidy on procuring and obtaining machinery, a quality certification subsidy, a 60% subsidy for the purchase and installation of pollution control devices, and a 50% subsidy on the total cost incurred on environment-friendly production technology expenditures.
“Besides this, there is a 100% net SGST reimbursement for eligible existing units registered under GST in Jammu and Kashmir as of March 31, 2021, for 10 years. The turnover incentives under the policy include 3% for micro units and 2% for small, medium, and large units for 5 years,” he said.
Choudhary said a dedicated entrepreneur and skill development fund will be established to nurture local youth with entrepreneurial skills, facilitating sustained industrial growth in the Union Territory.
On the ease of doing business, he said Jammu and Kashmir has undertaken significant initiatives to enhance the ease of doing business through the single-window setup under the Industrial Investments and Business Facilitation Act 2018.
“These reforms aim to streamline the regulatory framework, accelerate the grant of licences, permissions, approvals, and simplify procedural requirements,” he said.
