Nearly 600 industrialists submit proposals to set up industries in J&K

VISHAL. Updated: 4/8/2021 10:31:13 AM Front Page

Govt begins registration for new start-ups

Jammu: In the wake of new industrial policy to invite big names from various parts of the country to give a boost to this sector, so far around 600 industrialists and business tycoons have submitted their proposals with the department to establish their industrial plants across the Union Territory of Jammu and Kashmir.
Sources in the Department of Industries and Commerce said that the administration is making all out efforts to attract entrepreneurs and investors, be it a film industry, health and medical education sectors, skill development or the textile industry, by assisting in from providing land for setting up industries to full repayment of electricity-water and GSC besides concessions in construction materials and other goods in the service sector.
“As investors are in no mood to miss the opportunity, so far, around 600 people, including renowned entrepreneurs and investors of the country, have submitted their proposals with the administration to set up industries in Jammu and Kashmir,” reliable sources said.
They further said that as the new industrial policy has been implemented in Jammu and Kashmir, with this, the government has also started the process of registration of new start-ups and entrepreneurs, willing to start new industrial ventures.
Pertinent to mention here that under New Industrial Package, Rs 28,400 crore was announced by the Centre under which the entrepreneurs will have a full repayment of GST for next 10 years from the day the industrial plant becomes operational and land will also be provided at cheaper rates for setting up industries.
The Department of Industry and Internal Trade (DPIIT) of the Union Ministry of Industry and Commerce has also set the rules of the new Central Plan for industrial development in Jammu and Kashmir, sources added.
They however, said that the registration process under the scheme has already started from April 1, adding, “applications for registration will be submitted by September 30, 2024 and all applications will be disposed of by March 31, 2025 and if the government wants to, it can further be expanded.”
“The policy of allotment of land for setting up industries has been finalized, so keeping in view the nature of the industry, suitable land will be allocated to the proprietor,” said an official.
He said that if there will be sufficient scope for agro-based activities in a particular area, then land will be allocated on priority basis for agriculture and horticultural undertakings, adding, “the policy will be made public in the next few days. If an industrialist or a start-up aspires to get land for his venture, he has to register the unit online.”
As part of the process of easing business, paperwork has been reduced and a single window system has been introduced, he expressed.
“Many eminent entrepreneurs and investors of the country have signed MoUs with the government to set up industries in Jammu and Kashmir and now these people will have to apply again in accordance with the new industrial policy,” said an official adding that as per the rules, if the beneficiaries have to take advantage of the rebate and incentives received under the new industrial scheme, then the applying entrepreneur should have get the DPR (Detailed Project Report) of proposed unit, loan documents approved by the bank, land documents, PAN number and GSTIN for registration on online portal with documents etc.
However, as per industrial policy, construction of hotels and basic infrastructure assets under the services sector, tourism and hospitality sector, film, tourism, ropeways, amusement parks, heritage and historic property restoration, hospitals under the healthcare sector, diagnostic Labs, Ayush Center, Information Technology Maintenance and Repair Service, Logistic Park, WareHouse, Education and Skill Development Services related areas can be availed under the new scheme.
Official sources further said that two committees have been framed for the registration process and added, “the Secretary level committee is able to approve the registration of units with an investment of Rs 500 crore. For units worth more than Rs 500 crore, only the committee headed by the Chief Secretary will approve it.”
If an industrial unit has taken advantage of a scheme previously announced by the Government of India, it will not get the benefit under the new industrial policy in Jammu and Kashmir, they added
“Fee for loading and handling of goods, shed and building for plant and machinery, DG set, mining, weighing and laboratory testing equipments will not be exempt in the new scheme,” they maintained and said that in the service sector, benefits will not be given in terms of cost of land, goods consumed or the goods and services from which they will earn.

Facility to be available:
• Land at affordable rates for setting up industry
• Full repayment of GST up to 10 years
• Electric-water connection
• Online Registration, Single Window System
• Concessions for construction materials and other goods
• Profit on purchase of house furnishings along with the project of construction of houseboat
• In addition to the filtration plant for swimming pools in hotels and resorts, the benefit of AC plant and sewerage treatment plant also
• Special focus on film industry, hospitality, food preservation and processing, cold store, IT, health and medicine education, education, skill development, handicrafts-handloom, textiles, entertainment.
Updated On 4/8/2021 10:35:21 AM

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