J&K govt to focus on developing local industry: Mehbooba

Jammu and Kashmir Chief Minister Mehbooba Mufti today asserted that promotion and development of local industry is the thrust area for her government.
She said during the last two years many incentives were provided by the government to make local industry self-reliant and competitive.
Chairing the 6th Industrial Advisory Council meeting here, the chief minister said her government during the last two years incentivised many of the industry segments and much more would be done in coming years also to let the local industry grow and become more competitive and self-reliant.
Minister for finance & labour, Haseeb Drabu, minister for industries & commerce, Chander Prakash Ganga, minister of state for industries & commerce, Syed Farooq Andrabi were also present in the meeting.

Mehbooba impressed upon the players of local industry to ensure maximum engagement of local youth in their ventures so as to address the problem of unemployment in the state.
She said the industrial policy has been already formulated and very soon trade policy of the state would also be framed.

The chief minister said the J&K Trade Promotion Organisation has been conceived on the pattern of India Trade Promotion Organisation to boost trade and commerce in the state and provide a business-friendly environment to industrialists.
She hoped members of the business fraternity would take benefit of all the incentives provided to them and play their role in the socio-economic transformation of the state.

The meeting was informed that under the MSME sector while an investment of Rs 250 crore per year was made during earlier years, investment projects worth Rs 2,500 crore were cleared during 2016 alone.
The meeting was also informed that Wuyn cement factory plant spread over 400 kanals of land would be developed as an industrial estate even as two new industrial estates would be developed in the state.
The meeting was also told that Rs 10 crore each are being spent on upgradation of infrastructure at Trade Facilitation Centres at Salamabad and Chakkan Da Bagh where the trade valuation has touched Rs 900 crore and Rs 450 crore each.

Similarly, Kashmir Haat-II would be developed at Pampore on the Srinagar-Jammu National Highway at a cost of Rs 40 crore while skills will be imparted to 45,000 youth in the state in the coming three years, the meeting was told.