Industrialisation process delayed in J&K
JAMMU, May 26: Federation of Industries Jammu has drawn the attention of Lt. Governor of J&K UT Manoj Sinha towards the non-availability of developed Industrial land to the prospective Investors resulting flight of Industrial investment to other States where ready to use developed Industrial land and Fiscal Incentives available to the prospective investors.
While highlighting the issue Lalit Mahajan, Chairman Federation of Industries Jammu while inviting the attention of Lt. Governor said that the New Central Sector Scheme 2021 notified by Govt of India on Feb 18, 2021 and the Scheme has been implemented with effect from 01-04-2021 on the basis of which massive response for the investment in Industrial Sector as well as in Service Sector has been received from the prospective investors for their requirement of thousands of Kanal of land but till date only few units got the registration to avail the benefits of around approximate Rs 7000 crores against total allocation of Rs 28400 crores as per the NCSS 2021 under which is registration to avail the benefit shall be valid till 31-03-2025.
It is pertinent to mention here that Investment proposals amounting to thousands of crores pending with the Industries Department but due to non-availability of Developed Industrial Estates with the requisite Infrastructure for Industrial use the Registration of prospective investors on the Portal of Industries Department not possible due to pending lease deed documents for the allotment of land ln the Notified Industrial areas under development.
It is also worthwhile to mention here the existing working Industrial Units are facing hardship due to non-availability of Fiscal Incentives at par with the new investors under the NESS-2021 resulting number of units may opt for the closure of their units in near future due to which mass scale retrenchment of Industrial workers may take place and on the other hand due to non-availability of developed land the question mark put on the employment to local youths as the prospective investors may take a decision to shift to other states to avoid the price escalation in their Project cost due to delay in the allotment of Industrial land.
The FOIJ requested Sinha to consider the request for the grant of Fiscal Incentives at par with the New Central Sector Scheme 2021 to the existing working Industrial Units and units under substantial expansion with the allocation of requisite funds and also issue necessary directions for the completion of proposed Industrial Estates on war footing basis to provide the land to prospective investors in time bound manner.