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| Amid talk over new industrial policy, 545 industrial units set up by outsiders in JK | | | Jehangir Rashid
Early Times Report
SRINAGAR, June 20: At a time when there is a controversy over the implementation of new Industrial Policy in the state more than 500 industrial units have been set up by non-state subjects in Jammu & Kashmir.
In response to un-starred question of Ajatshatru Singh, in-charge minister for Industries and Commerce told legislative council that 545 industrial units have been set up by non-state subjects in the state. The minister said that there are 32,387 industrial units in the industrial estates in Jammu & Kashmir.
"In Jammu division 11,888 industrial units have been established by the state subjects. At the same time 498 industrial units have been set up by outsiders in Jammu. In Kashmir 19,960 industrial units have been set up by the state subjects while as 47 industrial units have been set up by outsiders," said the minister.
The minister said that in Jammu division there are in total 12,380 industrial units while as in Kashmir division the number of industrial units is 20,007. He said that in total 32,387 industrial units are functioning in industrial estates across Jammu & Kashmir.
"Under the State Industrial Policy 2016 announced vide government order 58-IND of 2016 dated 15-03-2016 various incentives have been provided by central and state governments to promote local entrepreneurs. These include 30 percent capital investment subsidy, 100 percent subsidy on DG set, 100 percent subsidy on testing lab equipments, 60 percent subsidy on pollution control devices, 3-5 percent interest subsidy on working capital and 50 percent subsidy on expenditure incurred on green and environmental protection initiatives," said the minister.
The minister said that 15 percent price preference would be given to MSME on all government purchases under the new industrial policy. He said that earnest money and tender documents shall be available at 50 percent of the cost for SSI units and that 100 percent reimbursement would be given on the preparation of feasibility report. He said that 25 percent subsidy would be given on expenditure incurred on automation/software/hardware/BPR/IT/Online pollution control devices and that 50 percent subsidy would be given on freight subsidy.
"Toll tax exemption would be given on import of raw material and export of finished products. VAT remission would be given on sale of finished products. VAT reimbursement would be given on local purchase of raw material by SSI units. Stamp Duty/ Court Fee exemption would be given on mortgage deeds. Assistance would be given for the revival of sick units by way of setting up of Asset Reconstruction Company in partnership with Jammu & Kashmir Bank," said the minister.
The minister said that 15 percent subsidy would be given on capital investment in plant & machinery for large scale units while as 30 percent subsidy would be given on capital investment in plant & machinery to MSMEs. He said that 3 percent interest subsidy would be given on working capital while as 100 percent subsidy would be given on insurance premium to industrial units and 90 percent freight subsidy would be given as well.
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