JAMMU: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) – one of the apex trade associations of the country has welcomed the new Industrial Policy for Jammu and Kashmir.ASSOCHAM believes that The New Industrial Policy will boost the industrial sector in Jammu and Kashmir and will also attract investors to invest in the Union Territory.Calling it a great boost for MSMEs, Kulwin Seehra, Chairman, ASSOCHAM Regional Committee for MSMEs said, “The launch of INR 28K crore Industrial Scheme for J&K will really uplift the economic and social conditions of Jammu and Kashmir.”Manik Batra, Chairman, ASSOCHAM, J&K Council said, “We welcome the new industrial policy for J&K by the central government. Approx Rs. 28400 crore set aside for this purpose, will be a new beginning as a lot of blue-chip companies have shown interest to invest in J&K.””We may see huge investment in the IT sector for the first time. This policy not only covers new investment but also safeguards existing industry. So overall it is a well thought out policy for the overall economic development of the UT,” he added.ASSOCHAM also feels that Jammu and Kashmir could be a potential export hub.Dr. M A Alim, Co- Chairman ASSOCHAM, J&K Council said, “The industry welcomes the far-sighted package with inbuilt safeguards against the misuse from the past experiences. The scheme will take Industrial development to the block level and usher a socio-economic development of this region as never before.””The policy is sensitive towards the existing industries and has salient features like new investment, substantial expansion, working capital interest subvention and subsidies which will result in huge employment generation.”ASSOCHAM also believes that the new Industrial Policy 2021 will benefit the union territory and encourage entrepreneurial enterprises to usher into a new era or development never seen in the past.
