Govind Sharma
JAMMU, Dec 12: The Centre has categorically clarified that there are no plans to extend the period for Jammu and Kashmir’s New Industrial Policy (NIP) 2021 or introduce additional incentives to industries to attract more investment.
Follow the Daily Excelsior channel on WhatsApp
“No such proposal is under consideration at present,” said the Minister of State for Commerce & Industry Jitin Prasada in Rajya Sabha today while responding to a specific query of Member Parliament Sat Paul Sharma whether the Government is contemplating any extension of the policy period or add new incentives or benefits for the industries.
The Minister also shared updated figures highlighting the industrial growth trajectory of the Union Territory under the New Central Sector Scheme for Industrial Development. He informed the House that a total of 918 units have been granted registration, comprising 520 existing units, 347 new units and 51 existing units undertaking substantial expansion.
These registrations, he said, collectively demonstrate the growing investor response to the policy framework introduced in 2021 with the objective of accelerating industrialization across all districts of J&K.
Prasada shared that of the 347 new units approved under the scheme, 267 have already reached the grounding stage, reflecting substantial progress in implementation. These grounded units have attracted an actual investment of Rs 2,449.47 crore and together propose the creation of 23,298 jobs.
The Minister underscored that the scheme has been designed not only to broaden the manufacturing base but also to generate long-term employment avenues for the local youth, thereby contributing meaningfully to inclusive growth.
Elaborating on sector-wise investment patterns, Prasada revealed that the manufacturing sector accounts for nearly 92% of the total investment mobilized under the scheme so far. Key drivers include metal processing units, plastic and polymer manufacturing, pharmaceuticals, and food processing industries. The remaining 8% of investments have flowed into the service sector, which continues to show gradual but steady participation under the broader industrial development framework.
Follow our WhatsApp channel
