Excelsior Correspondent
JAMMU, Jan 31: Associated Chambers of Commerce and Industry of India (ASSOCHAM), an apex industry body of the country has recommended Rs 10,000 crore package per year for next five years from the Central Government for giving boost to the Small and Medium Enterprises (SMEs) in the State.
While releasing a study paper prepared by Northern Region Development Council of the ASSOCHAM, suggesting special assistance for development of industry in J&K at a press conference here today, general secretary of the apex body, D S Rawat said that J&K has not been able to attract even a half percent of the total live investments made by both Government and private sectors. There is great potential of food processing, horticulture, tourism, hospitality, information technology, handicrafts related industry in this State. The State needs special assistance so that local entrepreneurship is given support and a viable and permanent industrial base could be set up here.
Mr Rawat opposed the concept of offering tax exemption and other incentives to the investors from outside. He said the investors will come and after exhausting benefits of the incentives, will go back to other States. The same thing perhaps happened here after the Government stooped the incentives. If again such incentives offered, they will come and bind up their units later. Therefore, for stable and viable industry and provide better and stable job avenues to the educated work force here, this State urgently needs special package.
He pointed out that the study by the Northern Council of the ASSOCHAM was conducted under the supervision of Babu Lal Jain, Chairman Entrepreneur Development Council of the body. Mr Jain was also present at the launch. Mr Rawat said in IT field, J&K has vast potential and educated, skilled youth here are the `raw material’ for this industry to grow. He said after Hyderabad, Gurgaon, Bangalore, J&K is the most appropriate and potential State for the growth of IT.
Mr Jain said as per his study, out of total 7109 live investment projects so far worth Rs 58 lakh crore from all Government sources across India, J&K attracted 187 projects worth over Rs one lakh crore and of the total 9950 live investment projects worth Rs 83 lakh crore from private sector, J&K attracted 28 projects worth just Rs 27, 600 crore. He said compared to this State, Uttrakhand and even Himachal witnessed huge growth in industrial sector but this State needs special attention and support. He also favoured special skill development programme for the youth of this State.
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