Srinagar, Apr 15: Chief Minister Omar Abdullah on Wednesday said that the government was preparing a new industrial incentive policy.
Speaking at the inaugural ceremony of the ‘Know Your Artisan’ exhibition organised by the Department of Handicrafts and Handloom, Kashmir, at Kashmir Haat in Srinagar, CM Omar said, “The government is working on bringing a new industrial incentive policy.”
He said that the government was getting proper feedback from both the people who want to set up their industrial units as well as those who had already set up their units.
“Otherwise, we provide incentives from the top, but it does not translate into benefits for the people working on the ground,” the CM said.
He said that Kashmiri craftspeople have magic in their hands and urged tourists as well as Kashmiris to attend the ‘Know Your Artisan’ exhibition.
The J&K Industrial Policy 2021-30 along with the Government of India’s new scheme for the industrial sector aims to transform J&K into a manufacturing hub, offering 30 percent to 50 percent capital investment incentives up to Rs 7.5 crore.
“The Department of Handicrafts and Handloom, Kashmir, has brought all Kashmiri crafts, including Kani and Pashmina shawls, chain stitch, copperware, wood carving, papier-mâché… under a single umbrella,” CM Omar said.
He said that with the onset of spring, the tourist season had begun in Kashmir, and as the Indira Gandhi Memorial Tulip Garden was set to close on Wednesday, the government was putting in efforts to come up with more experiences to woo tourists.
Expressing concern over the decline of traditional markets, the CM said that the heritage marketplace in the area had become defunct over time.
“Over 80 shops have shut. There is a need to understand where the artisans have gone and how we can bring them back into the system,” he said.
The new industrial policy aims 100 percent GST-linked incentives for 10 years, 6 percent interest subvention, and 100 percent diesel generator set subsidies to boost investors.
The key focus areas include manufacturing, services, and handicrafts, with specific support for MSMEs and women-led units.
