Much-awaited new Industrial Policy-2016 formulated by the Industries & Commerce Department has been finally approved by the SAC which met in Jammu recently under the chairmanship of the Governor. This has removed the clouds of uncertainty looming large on the matter for quite some time. The new policy will remain in force for ten years from the date of its implementation. Though belated, new policy has the concurrence of all stakeholders. Essentially based on the philosophy of Ease-of-Doing-Business, new policy takes into account issues like registration of industrial units within a time-bound manner through e-Governance interface. This includes online processing of business proposals, self certification, establishment of green corridor at Lakhanpur, delegation of powers and time bound clearances from other departments including Power Development Department and State Pollution Control Board (SPCB). Of course, the end game objective is giving boost to industrial growth in the State which, according to the framers of new policy has the target of attracting an investment of over Rs 2000 crore per annum; creating annually 15,000 direct and indirect employment opportunities through upgrading and creating infrastructure and establishment of new industries. It envisages creation of Land Bank of 20,000 kanals across the State; zoning of districts in the State based on the extent/ degree of industrial development in different districts besides supply of additional 150 MW power every year.
This appears an ambitious programme for industrial growth in the State. The new policy has to take care of two important aspects. These are investment and employment opportunities. We hope that with the cooperation of the business sector in the State, new industrial policy is set to change the industrial complexion of the State in next one decade during which it will remain in force. It may be mentioned in passing that the previous Governments had been dilly-dallying about framing a new industrial policy. With the announcement in hand, the Government has set at rest all doubts and controversies about the new industrial policy. Hopefully the industrialists and entrepreneurs will hail this policy as very beneficial to them and to the people in general.
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