JAMMU, MARCH 11: In a significant move to strengthen the industrial ecosystem of Jammu and Kashmir, Chief Secretary, Atal Dulloo today chaired stakeholders conference with the concerned government departments and stakeholders from industry and trade to deliberate on reforms introduced by the Department of Industries & Commerce for promoting Ease of Doing Business (EoDB) in the Union Territory.
The session steered by the Commissioner, I&C, Vikramjit Singh and attended by the concerned Administrative Secretaries, Director, F&ES, MD J&K Bank; HoDs and major Industrial Associations like ASSOCHAM, PHDCCI, FICCI, FCIK, JCCI, ICC Jammu etc. The Conference provided a platform for detailed discussions on the revamped industrial policy, deregulation measures and initiatives aimed at supporting Micro, Small and Medium Enterprises (MSMEs) across the UT.
The conference focused on four key aspects, including creating greater awareness among stakeholders about the extensive deregulations and decriminalization measures implemented under Phase-I of Ease of Doing Business reforms. It also featured deliberations on the next phase of EoDB reforms to be undertaken in the Union Territory. The stakeholders were urged to take advantage of the MSME Health Clinic established under the Raising and Accelerating MSME Performance (RAMP) Scheme, besides sharing their feedback on the proposed revamp of the Industrial Policy for Jammu and Kashmir.
Addressing the gathering, the Chief Secretary emphasized the need for stakeholders to fully understand the changes made in the industrial policy and the scores of deregulations and decriminalizations introduced as part of the national reforms aimed at reducing the compliance burden and improving the overall business environment.
He observed that several stringent norms had been eased and replaced with trust-based mechanisms such as self-certification, while many government services had been made strictly time-bound with provisions for auto-approvals after the stipulated timelines.
The Chief Secretary also used the occasion to encourage industrialists and entrepreneurs to share their suggestions and concerns with the empowered committee constituted to ensure the smooth rollout of the revamped Industrial Policy for Union Territory in the days to come.
He declared that the committee, comprising the ACS Finance, Commissioner Secretary, I&C and MD, J&K Bank has been tasked with ensuring the effective and time-bound implementation of the New Industrial Policy. He urged stakeholders to freely approach the committee with their issues and suggestions so that the entire exercise becomes purposeful and delivers tangible outcomes for the industrial sector in Jammu and Kashmir.
Highlighting the vision of ‘Viksit Bharat’ towards creating a business-friendly environment, Dulloo stated that such reforms are intended to make the process of establishing and operating businesses far less cumbersome by drastically reducing formalities, documentation and procedural delays. He added that these measures are designed to build confidence among investors and encourage entrepreneurship across Jammu and Kashmir.
The Chief Secretary also highlighted the key provisions of the Jammu and Kashmir Industrial Policy 2021–2030, describing it as a strong foundation towards industrial development in the region. Under the revamped policy, new MSME enterprises can obtain a Certificate of In-Principle Approval through self-declaration, which allows them to begin operations while providing a three-year grace period to secure final departmental clearances.
He further elaborated that the policy provides substantial fiscal incentives to investors, including financial assistance for fixed capital investment of 30 percent up to ₹50 lakh in Zone A and 50 percent up to ₹1 crore in Zone B areas. Eligible industrial units are also entitled to 100 percent reimbursement of State GST for a period of five years, subject to ceilings linked with their fixed capital investment.
Concluding the session it was reiterated that these reforms are aimed at creating a vibrant and enabling ecosystem for industrial growth across the length and breadth of Jammu and Kashmir.
He urged stakeholders and industrial associations to actively come forward so that these entrepreneurs can take full advantage of the incentives available under the revamped policy and contribute to the sustainable economic growth of the Union Territory.
