SRINAGAR, NOVEMBER 26: Divisional Commissioner, Kashmir, Baseer Ahmad Khan, today convened a meeting to review the functioning of Industries and Commerce Department.
The Div Com was informed by Director Industries, Nazim Zia Khan, that being the nodal agency for development of industrial sector in the Kashmir division, the Directorate implements Central and State industrial policies through District Industrial Centres (DIC) and facilitates entrepreneurs in setting-up and running their industrial units.
He was informed that there are a total of 33 industrial estates in Kashmir division, including 22 managed by DIC, 7 by SIDCO and 4 by SICOP. While as total 1409 units have been established by them.
At Srinagar, 190 established units are managed by DIC, while as 188 units at Lassipora and 151 units in Zainakote are managed by SIDCO and SICOP respectively.
The meeting was informed that 9 new industrial estates are coming up in the valley including one each in Anantnag, Dooru, Shopian, Kupwara, Leh and Kargil and three in Kulgam. It was also informed that main schemes implemented by the Department include Micro, Small and Medium Enterprises or MSME, setting-up or up-gradation of Industrial Growth Centres or Industrial Estates or Industrial Parks, providing incentives under Central and State packages to industrial units under manufacturing and service sectors, besides implementation of Prime Minister’s Employment Generation Programme (PMEGP).
Giving details about credit flow under the MSME sector, the meeting was informed that a total of 370 cases have been sponsored to banks by I&C Department during current fiscal. While as formal registrations since 2011 includes a total of 3699 units established, Rs 724.43 crore investment and 20800 employment avenues generated. During current fiscal, as many as 191 units were established and investment of Rs 5931.96 crore has been registered generating 1189 employment avenues.
The meeting was also informed that that the new Industrial Policy 2016, provides several incentives to the investors including 30% Capital Investment Subsidy on Plant and Machinery, 3 to 5 percent interest subsidy on Working Capital loan, 100 percent subsidy on purchase of new DG Sets/Solar/Wind Generators/Hybrid Solar Wind Systems, 100 percent subsidy on purchase of QC & Testing Equipment, 25 percent subsidy on automation /software/hardware /business process re-engineering/ IT/ online pollution control devices, and exemption from payment of Toll tax, GST, Court Fee, Stamp Duty, CST etc.
The Div Com called for further strengthening the Industries Department and asked the officials to work with added zeal and devotion to implement different government schemes on ground. He also sought a proposal with details of losses suffered by industrial units during recent months of unrest so that measures would be taken to provide support to the affected units besides resuming functioning.
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