Crescent Kashmir

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Recently the central government on the recommendation of UT administration of Jammu and Kashmir has framed a new industrial policy and formally announced it.

According to the new industrial policy, the central government is trying its best to rope-in big industrial tycoons to invest in Jammu and Kashmir so that there is a real industrial and not any fake setting up of industries.

Recently one of the senior bureaucrats of the industrial department told the media that under the new policy of the government land would be allotted according to the quantum of the project and that they will not repeat the past mistakes of allotting the land to establish industrial units without knowing the size of the project.

He claimed that such past policy of the industries has only encouraged real estate business in the industrial areas as after a few years of allotments, the persons would not establish any industrial unit but sell it off.

He said in new industrial land policy, the allocation would be based on the amount of investment and the employment a company would generate.

He further said the company provided should start the production in the next three years after land is allotted to it. Establishing industrial estate takes a lot of hard work. In the past, many companies after taking advantage of loopholes in previous land policy have taken huge chunks of land cheaply which won’t happen now.

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