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Four sectoral policies approved to boost industrial growth in J&K

Press Trust of India  |  Jammu 

In a bid to boost industrial growth, the Jammu and Kashmir Administrative Council, headed by Lt Governor G C Murmu, on Friday approved four policies for tourism, captive power, hydro power and renewable energy, and AYUSH care.

The Administrative Council's decision comes in the backdrop of Global Investors Summit scheduled to be held later in the year to attract investments in the union territory, an official spokesman said.

Focusing on investors and current business organisations, he said the government has announced new policies for facilitating 'Ease of Doing Business' in Jammu and Kashmir (J&K).

"Out of the 14 identified focus sectors for Investors Summit, 13 sector policies are being drafted with an addition of one Umbrella Policy 2020 for MSME, large and mega units.

"These sectoral policies provide for integrated development of various sectors to create business thereby attracting investors to make gainful investments in J&K and balanced industrial growth at reduced costs leading to creation of employment opportunities, income generation and overall economic development," he said.

The J&K Tourism Policy-2020 aims to make J&K most preferred all-season tourist destination for domestic and foreign tourists in India by 2025, generate employment opportunities for the people, impart training to around 4,000 tourist service providers over the next 10 years, promote all kind of tourism across the UT, and to promote city-wise events and festivals with a pre-defined calendar and promote the same at national and international level, he said.

The J&K Captive Power Policy-2020 would encourage investment in establishing captive power plants in the union territory (UT).

"This will not only enable the industrialists to cater their load demand as and when required but will also enable them to sell surplus power in the grid, adding to the total installed capacity through captive generation and will further strengthen the process of industrial development," he said.

The move would be a step towards bridging the gap between supply and demand and help in the march towards supplying 24X7 quality power to industrialists.

The J&K Hydro Power and Renewable Energy Policy-2020 would promote generation of green and clean power using hydro and solar energy, create conditions conducive to the involvement of investor in renewable energy projects, enhance use of solar energy sources that assist in mitigating environmental pollution.

The J&K AYUSH Care Investment Policy-2020 aims to realize the obligations of J&K for providing quality AYUSH care services to citizens within a pluralistic system of integrative AYUSH healthcare, so as to ensure the availability of healthcare at doorsteps of the common masses, the spokesman said.

He said it also aims to promote medicinal plants sector in J&K to conserve, market and process the plants for establishing herbal industries in J&K.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 20 2020. 18:50 IST
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