New Industrial policy comes into effect in J&K

With a mantra of government being facilitator rather than regulator and to give impetus to the industrial sector, the Jammu and Kashmir administration has accorded sanction to the implementation of new Industrial Policy 2021-30 and its procedural guidelines with effect from April 1, 2021.

As per the policy document released by the Industries department, all Industrial units coming into commercial production from April 1 as well as the existing units undertaking substantial expansion, shall be entitled for incentives under this policy while the existing units eligible for incentives under the erstwhile Industrial Policy 2016 shall be allowed to avail the same under the old policy till March 31, 2026.

As per the policy, there shall be 100 percent subsidy on purchase/installation of Diesel Genset, 60 percent subsidy on purchase/installation of pollution control devices, 30 percent subsidy on obtaining quality certificates, 30 percent subsidy on automation and 50 percent subsidy on green environment protection initiative.

The DIC shall approve the incentive cases up to Rs 5 lakh in the District Level Committee and the incentive cases from Rs 5 lakh to Rs 50 lakh shall be approved by Division Level Committee while the incentive cases exceeding Rs 50 lakh shall be approved by UT Level Committee.

The policy mentions that the government would act as facilitator rather than regulator. All UT related services, consents and permissions required to set up and operate an industry in J&K shall be provided through Single Window Portal.

As per the procedural guidelines for availing of incentives under this scheme, 60 percent subsidy shall be available on purchase and installation of pollution control devices, subject to an upper ceiling of Rs 50 lakh per unit. The units undertaking substantial expansion shall be eligible only for the balance amount out of maximum ceiling of Rs 50 lakh, if some amount of subsidy has already been availed by the unit in the earlier policies,

For availing subsidy on DG set, the unit holder shall apply to the General Manager along with application, bills, CA certificate, satisfactory commissioning certificate and fitness certificate from PDD, agreement and Indemnity Bond etc. After the case is approved by the concerned committee, the GM shall sanction the claim up to Rs 5 lakh. In case of claim exceeding Rs 5 lakh, the GM shall recommend the case to Director Industries & Commerce for approval by the Divisional Committee.

The industrial units procuring quality certification like ISO, ISI, BIS, FPO, BEE, AGMARK, ECOMARK etc shall be given a subsidy of 30 percent of the total cost incurred for obtaining the said certificate, subject to a maximum of Rs 2 lakhs as certified by the Chartered Accountant.