‘889 units with investments of Rs 18,185 cr currently operational’
By March-April, additional 324 units are expected to commence operations
Sanjeev Pargal
JAMMU, Jan 24: Lieutenant Governor Manoj Sinha expressed optimism today regarding the enhancement of the Industrial Development Scheme (IDS) for Jammu and Kashmir, given the assurances from both the Prime Minister and Home Minister. He announced that 889 industrial units, accounting for investments of Rs 18,185 crore, are currently functioning.
During the inauguration of the ‘BRICS Youth Council Entrepreneurship Run-up Event’ at the Indian Institute of Management (IIM) Jammu, Sinha highlighted the overwhelming response to the Industrial Development Scheme initiated by the Government of India in 2021, which has led to the complete utilization of the incentive package totaling Rs 28,400 crore.
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“We have received numerous proposals, leading to the establishment of many industrial units. The total incentives amounting to Rs 28,400 crore have been fully claimed. Both Prime Minister Narendra Modi and Home Minister Amit Shah have guaranteed an increase in the incentives, and we are awaiting a prompt response,” he stated.
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The Lieutenant Governor reiterated that 889 industrial units with investments worth Rs 18,185 crore are now operational, with production having commenced in units costing Rs 6,624 crore.
“By March-April of this year, an additional 324 industrial units with investments totaling Rs 9,538 crore are set to begin operations,” he disclosed, noting that land constraints have hindered some industrial units from being allocated land.
However, Sinha assured that the administration is dedicated to expanding the industrial land bank and establishing further Industrial Estates.
He emphasized that no other state offers better industrial incentives than those provided by the IDS announced by the Central Government for Jammu and Kashmir in 2021. This scheme has attracted substantial investment proposals both nationally and internationally, leading to the depletion of the incentive funds.
Sinha expressed hope that the IDS would significantly impact the future of Jammu and Kashmir, highlighting the visible results of the Central sector’s Industrial Scheme as a precursor to an industrial revolution in the region.
An official handout stated that the Lieutenant Governor commended the Ministry of Youth Affairs & Sports, the Global Counter Terrorism Council (GCTC), IIM Jammu, and all associated departments for creating a dynamic platform for innovators, aspiring entrepreneurs, and youth leaders to present their innovative business ideas and ventures.
He underscored the transformative efforts by the Government through the Department of Industries & Commerce, which have revamped the innovation and entrepreneurship ecosystem, empowering the youth of the UT.
“In recent years, Jammu and Kashmir’s industrial ecosystem has experienced an extraordinary increase, fostering a culture of innovation, research and development, and technological advancements. I aspire to see our youth emerge as leading entrepreneurs in the country, contributing to its development,” Sinha stated.
He mentioned that the dedicated efforts and policy reforms have rendered J&K a thriving startup hub.
The Lieutenant Governor also discussed major initiatives like Mission Yuva to cultivate a business support environment for the dynamic youth of J&K. He remarked on the reforms underway in the education sector, particularly focusing on equipping the youth with skills relevant to Industry 4.0 technology.
“Our ongoing focus is on policies that encourage the establishment of incubation centers and provide better resources for new startups. I urge our youth to dream big and work passionately to elevate J&K’s growth,” he emphasized.
Sinha further stressed the importance of bridging the gap between academia and industry to address future challenges, stating that human resources must be equipped with market-relevant skills.
He pointed out that the mission for youth entrepreneurship is crucial not only for India but for the global context as countries from all sides are leveraging their demographic advantages to tackle the significant developmental challenges of the 21st century.
The Lieutenant Governor also acknowledged the vital role of educational institutions and youth in shaping India into a knowledge economy and realizing the vision of Viksit Bharat.
Prof. B S Sahay, Director of IIM Jammu, shared IIM Jammu’s vision of nurturing youth into business leaders and entrepreneurs.
A comprehensive presentation outlining the key objectives of Mission Yuva was also made during the event.
Atal Dulloo, Chief Secretary; heads of departments, senior officials, members of the Global Counter Terrorism Council, young entrepreneurs, innovators, youth leaders, and industry experts were present.
