Opportunities in Industrial Sector in Jammu and Kashmir

Opportunities in Industrial Sector in Jammu and Kashmir

The Industries Sector is playing its due role in the economic development of the Jammu and Kashmir and in generating employment opportunities for the unemployed youth. Previously, it used to be only the Handicrafts, Handlooms and Cottage Industry providing livelihood to a large population at different stages of production, sale and export but now the focus is also on other industries which is administered by Department of Industries and Commerce through- five (5) Directorates of Industries, Handicrafts, Handlooms and Geology & Mining,- Four (4) Corporations viz SIDCO, SICOP, Handloom Dev. Corp. and Handicrafts (Sales & Exports) Corp.- Public Sector Undertakings of JK Industries Ltd., JK Minerals Ltd., JK Cements Ltd.- Training & Research Institutes like CDI, IICT, EDI and a board KVIB.

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All these industries provide an immense scope for investment with high returns and with the help of NPCS the investors could get maximum profit. NIIR Project Consultancy Services (NPCS) provides detailed project report targets with all the important information required for the investment in industrial sector in Jammu and Kashmir.

Projects: - Project Reports & Profiles

Reasons for Investment in Industrial Sector in Jammu and Kashmir

The Government notified and issued new Industrial Policy 2016 in Jammu and Kashmir. The Policy envisages to attract substantial investment especially in high potential areas of food processing, leather, pharmaceuticals, wood based like sports goods/bats/willow wicker, high grade raw silk, woollen fabrics, computer/electronics and information technology. The issue of extension of the Package to the State as special category has been taken up with Government of India.

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The incentives available under the Industrial Policy for setting up of entrepreneurship units which could attract investors are:-

UT Fiscal Incentives: i.30% Capital Investment Subsidy. ii.100% Subsidy on DG Set. iii.100% Subsidy on Testing Lab Equipments. iv.60% Subsidy on Pollution Control Devices (PCD). V.3%-5% Interest Subsidy on Working Capital. vi.50% Subsidy on expenditure incurred on Green and Environmental Protection Initiatives. vii.15% Price Preference to MSME units on all Govt. purchases.

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UT Tax Incentives

1. Toll Tax Exemption on import of raw material and export of finished products.

ii.Green Corridor for industries at Lakhanpur. iii. VAT remission on sale of finished goods.

1. VAT reimbursement on local purchase of raw material by SSI units.
2. Stamp Duty/Court Fee exemption for Mortgage Deeds.
3. Assistance for revival of Sick Units by way of setting up of Asset Reconstruction Company in partnership with J&K Bank.

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Central Special Package i.15% subsidy on Capital Investment in Plant & Machinery for large Scale Units. ii.30% Subsidy on Capital Investment in Plant & Machinery to MSMEs. iii.3% Interest Subsidy on Working Capital. iv.100% Subsidy on Insurance Premium to Industrial Units. v.90% freight Subsidy.

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Union Territory’s resources Jammu and Kashmir possesses immense resources like land, water, horticulture, tourism and minerals for the establishment of following industries;

1. IT industries
2. Cement factories

• Electronics industry

1. Mineral based industries
2. Food Processing Industries
3. Horticulture based industries

• Tourism based facilities

The number of industrial units registered up to 2018-19 is 32226 with employment 1.58 lakh. The investment in the small scale industries sector is recorded at Rs 5113.39 crore.

Related Projects:- Best Business Opportunities in Jammu & Kashmir- Identification and Selection of right Project, Thrust areas for Investment, Industry Startup and Entrepreneurship Projects

The progress for last 5 years is given below:

  NPCS’s project consultancy and market research fields put forward the emerging scope for the industrial development in Jammu and Kashmir as it possesses immense scope for the investment and development of industries like electronics, IT and food processing industries.

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