Govt expects Rs 20,000 crore investments over next 10 years

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Srinagar: – The house was yesterday informed that the state government expected to attract investments worth Rs 20,000 crore over the next decade.

“With a slew of industry-friendly measures, the J&K government aims to attract investments of Rs 20,000 crore over the next 10 years,” Minister for Industries and Commerce Chander Parkash Ganga said in the Assembly here. 

Winding up the discussion on demand of grants for Industries and Commerce Department, the Minister said that Government is focused on development of this vital sector.

As per the latest economic survey conducted by the government, industry contributes 25.87 per cent to the Gross State Domestic Product (GSDP) and various steps are being taken to strengthen the sector for socio-economic transformation of the state.

The Minister said that the micro and small industrial enterprises have been the main focus of the Government, adding that there are 30257 registered MSME units employing about 1.45 lakh persons in the State.

Highlighting the provisions of New Industrial Policy 2016, the Minister said that Industrial policy envisions Ease of Doing Business by simplifying the process of obtaining clearances, No Objection Certificates including self-certification of documents and others.

Ganga acknowledged the challenges being faced by the handloom sector from powerlooms and modernisation, in addition to lack of capital and investment.  

He said that Government aims to promote the sector through integrated handicraft development, handloom weaver comprehensive welfare and modernization schemes besides renovation of looms and loan assistance to cooperative societies.

The Minister underscored the importance of labour-extensive sectors of Handicraft and Handloom in mitigating the challenges of unemployment. 

He said that the handloom units produce Loi, Pattu blankets, Pashmina, Ruffle and Dasoi Khat. He said that the Department has taken 15 handloom clusters and 20 group approach projects on a project cost of Rs. 12.23 crore under the Integrated Handloom Department Scheme (IHDS).

Referring to the initiatives taken under skill development programme, Mr. Ganga said that during 2015-16, 7890 persons have been trained at the elementary and 553 persons in advanced training centres throughout the state, in various crafts like Sozni, Crewl, Papier Machie, Fulkari, Zari and Chain Stitching. He said that Artisan Credit Card scheme benefited 3453 artisans besides Rs. 26.36 crore were provided for Interest Subvention for the cases sanctioned during 2015-16.

The Minister said that Kashmir Haat Srinagar which was badly damaged during the floods of 2014 has been restored and made functional.

The Minister further said that Handicrafts Department runs 109 training centres throughout the State to impart training in trades like readymade garments, handloom weaving, spinning and weaving and Kani shawl weaving. 1044 trainees were trained in different trades during 2015-16, he added.

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