JAMMU, Feb 14: With a view to boost economic growth, Government today decided to incentivize local employment generation by the State based industrial units and rationalize incentives for the services sector, besides taking other measures to vitalize the trade and commerce in the state.
Among the proposed moves, the State Government will offer more incentives to the industrial units in addition to the existing sops they are entitled on showing considerable increase in the base target of 55 percent set by the State Government for absorbing local workforce.
The need was felt to rationalize the local employment generation targets set under the State Industrial Incentive policy for Industrial Units. As per the existing incentive Policy the industrial units are liable to engage 90 percent local workforce starting with 55 percent base target.
Apart this, the Industry and Commerce Department will also offer to bear the skill training cost of the workers engaged by the industrial units from the catchment areas.
Meanwhile, the Government also proposed to rationalize the incentives to the services sectors. The move aims to provide handholding to the trades which enjoy least exemptions but have good potential to push up the economic growth in the state.
The far reaching proposals were discussed and finalized at a review meeting of Industries and Commerce Department chaired by the Principal Secretary Industries and Commerce, Navin K Choudhary.
The meeting was attended by Director Industries and Commerce Jammu, heads of SIDCO, SICOP, Handloom and Handicraft Development Departments, heads of, corporations, Public Sector companies and other officers.
During the marathon meeting, the Principal Secretary reviewed the performance of Industries and Commerce Department, Handicraft, Handloom Development Departments and Handicraft Corporation.
Seeking report on existing and upcoming Industrial Estates in Jammu Division, the Principal Secretary asked for providing best infrastructure to the investors.
Presently there are over 13000 registered industrial units in the State, of which 10000 are functional, while remaining are closed.
To meet the land requirement for new industrial units, the Principal Secretary directed taking over the possession of the defunct plots through the legal course and vigorously pursuing court cases to vacate the stay, as was informed in the meeting.
About the upcoming industrial estates, the Principal Secretary asked the concerned to go for allotment only after development of internal roads and having in place power supply, water supply and other facilities.
Taking review of Handicraft, Handloom Sector Department and Corporations, the Principal Secretary asked them to hold joint expos across the State to attract high end customers.
He also asked for rationalization of sanctioned posts strength to create professional posts, especially for strengthening the management and marketing strategies of business units.