Industrialists in Kathua district of Jammu and Kashmir rejoiced the administration’s announcement of a new industrial package of Rs 28,000 crore to boost economic growth in J&K. The package, which was launched by Jammu and Kashmir Lieutenant Governor Manoj Sinha recently, comes at a time when the valley faces a financial crisis due to the COVID-19 pandemic. Many are of the opinion that the reform package will enhance resources for employment and growth.
President of the Kathua industrial Unit Association, Ajit Bawa said, “We are happy to get such a good package for industrial growth. Now industries will get a boost and several youths will get jobs. After the COVID-19 pandemic, so many people came back home after losing their jobs. With the announcement of this package, new industries will be set up. Even industries lying dead wil be revived, thanks to the incentives in all sectors of finance, banking, GST and tax rebates.” He also added that the new land law gave them the opportunity to purchase land for industry and for domestic purposes.
The new Industrial Development Scheme 2021 announced by the J&K administration includes benefits and incentives up to the year 2037. Many were optimistic about employment opportunities coming to their doorstep. “Earlier, we would have to migrate to other states like Punjab, Delhi, Mumbai and Gujarat to get decent jobs. With this scheme, the government has brought opportunities right to our doorstep,” said a native Nikhil Kumar.
Another local Industrialist, Vikas Sharma said, “I have been running a cosmetic industry here for 10 years. The industry has suffered during a financially difficult time due to COVID. I am hopeful that the new package will bring relief.” (With inputs from ANI)