Piyush Goyal announces new scheme for industrial development to make J-K self-reliant

The central sector scheme for the industrial development of Jammu and Kashmir will help in making the union territory self-reliant and push growth, besides creating jobs for lakhs of people, Union Minister Piyush Goyal said on Tuesday. This initiative will also attract businesses to invest in the union territory, the commerce and industry minister said during the launch of a portal for registration of units for industrial development in Jammu and Kashmir.

Goyal said, "This scheme will help Jammu and Kashmir to become self-reliant and developed." Traditional regional products like handloom, handicrafts and silk from Jammu and Kashmir have now reached the global markets again. They were always popular around the globe but have been under decline in recent years. Goyal said that the new portal would further improve the ease of doing business and bring transparency and accessibility to business owners.

What is DigiLocker?

The new DigiLocker facility is also set to be added with this portal to further help the businessmen, as now they will not have to submit the same documents over and over again. The online portal was designed and developed to effectively implement the scheme in a transparent manner and to allow businesses to run with ease in the union territory. The entire process of applying for a business opportunity through the scheme, starting from registration, submitting claims and their processing within the department, will all be initiated and verified through the portal. This will avoid human interaction and will save a lot of time and effort to get the permit.

The scheme was announced keeping in mind the idea to provide the services industry of Jammu and Kashmir a fresh start in its quest for development. This will help the region to create more jobs, employ skilled workers and being sustainable through their own business as they can attract investments or expand their existing businesses. Ever since the abolishment of Article 370, the administration of Jammu and Kashmir has signed more than 168 MoUs worth Rs 13,600 crores for investments to help the region flourish and get economic growth and development. Moreover, more than 6,000 acres of government land has been given to private companies on lease to set up industries in the state.

(With PTI inputs)