The government move to constitute a committee to hold regular interactions with people associated with industries and commerce in Jammu and Kashmir is expected to address their grievances and demands in a better way now.
The announcement regarding the committee was made by Lieutenant Governor Manoj Sinha during a meeting with industry leaders and representatives of various industries’ associations on Saturday.
He said that the committee comprising Industries and Commerce Department and entrepreneurs is being constituted as an institutionalised mechanism to hold regular interactions with the industry representatives and Chambers of both the divisions to resolve the issues and challenges confronting the businesses.
The government move is being hailed by the business circles here. At a time when government says it is busy starting a new era of socio-economic development and industrial growth in J&K, taking along the local stakeholders is equally important.
Also important is addressing their grievances and demands, so that they do not feel sidelined or ignored. In January last year the government had announced a new Industrial Developmental Scheme (IDS) with a total outlay of Rs 28,400 crore to encourage new investment and to take industrial development to the block level.
The government said the scheme will encourage new investment, substantial expansion and also nurture the existing industries besides providing employment to 4, 50,000 people in J&K.
In February this year, the government approved a policy on foreign direct investment (FDI) for J&K with a minimum of 51 percent foreign stake.
The policy is aimed at promoting of foreign investment in the industrial sector in J&K.
The officials say that both IDS and FDI policy are showing positive results. Now, by forming a committee for regular interactions with local key players, the government took a positive step.
In past the successive governments here did not show so much of seriousness to be in regular touch with people associated with industries and business.
Routine meetings were sometimes taking place without any significant movement visible on the ground.
Amid the increasing demand for employment, the private sector has to grow and generate more and more employment.
Because of various factors including the situation, the industrial growth could not see any upward trend here.
Even no solid headway could be made in this direction since 1996 when political parties returned to power in Jammu and Kashmir.