Industries and commerce department organised an awareness programme in all the districts of state on Thursday to highlight the benefits of newly extended incentives to J&K on the pattern of Northeast states.
The programme was organised in collaboration with industrial federations of Kashmir and Jammu.
According to a statement, the speakers on the occasion highlighted the incentives under the revised, Jammu and Kashmir Industrial Development Scheme (JKIDS) issued by the Central Government on January 1, which has four (4) additional components of incentives i.e., Goods & Services Tax (GST) Reimbursement, Income Tax (IT) Reimbursement, Transport Incentive (Tl) and Employment Incentive in addition to three existing components i.e., Central Capital Investment Incentive for Access to Credit (CCIIAC), Central Interest Subsidy (CI) and Central Comprehensive Insurance Incentive (CM). The new scheme thus has seven (7) components with four additional components.
The speakers further highlighted the achievements made by the state in implementation of Business Reform Action Plan (BRAP) under Ease of Doing Business. For providing best possible ecosystem for investment, industrialization and employment generation, a major step has been taken in the shape of enactment of J&K Single Window (Industrial Investment and Facilitation) Act, 2018. The Single Window Portal www.investik.in is being launched for providing all industrial approvals pertaining to concerned departments in a time bound manner through a single log-in.
A large number of participation of stakeholders and entrepreneurs was witnessed on the occasion.