Govt to give incentives to promote industrial development in J&K: Goyal -
Govt to give incentives to promote industrial development in J&K: Goyal
Posted 28 Nov 2019 01:58 PM

Source: Greater Kashmir

The Government is functioning on many incentives and steps to promote industrial development in the Jammu and Kashmir region, Commerce and Industry Minister Piyush Goyal said.

“The Government is functioning on vital incentives and steps to promote industrial development. it'll give a boost to investor sentiment in the region,” he said here at KASHMIRONOMICS conclave 2019.

The minister said corporations in the United Arab Emirates (UAE) and Dubai are keen to explore business opportunities in this region.
“I am sure more and more people would really like to set up industries and invest in that region,” he said.

He said huge investment potential is there in sectors such as hydropower, pharmaceuticals, business, and food.

“You will hear more in the days to come and in the budget to come,” Goyal said.

The Government, he said, is aiming to set up inland container depots and grant geographical indication (GI) tags to some native product like apricot and sea buckthorn plant, that could be a multipurpose shrubs species in Ladakh cold desert.
This plant has the capacity to tolerate harsh weather and temperature in the vary of (-) 40 degrees Celsius|astronomer|uranologist|stargazer} to 40 degrees Celsius.
A GI is primarily an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a particular geographical territory.

Typically, such a name conveys an assurance of quality and distinctiveness, that attributable to as a result of the place of its origin.
Further, he added that there are plans to set up modern institutes and skill development centers in this region.

In the railway sector, he said a project is underway to connect Udhampur-Srinagar-Baramulla, that could be a 272-km long rail link.
Work on 161 kilometers is already completed and also the rest is going on, he said adding that the Katra-Banihal section is also going on.

Construction of Chenab Rail Bridge, that was unfortunately got stuck because of terrorist activity, work has now started for that. “It will be the highest bridge in the world and that we are hopeful that having declared it as a critical project, we will be able to complete it in a very defined timeline,” Goyal said.

He added that the Rail Ministry has completed a location survey of the 475-km Bilaspur-Manali-Leh road, which is an “expensive” rail link.
Speaking at the function, Textiles Minister Smriti Irani said there's potential to make this region a hub for handmade carpets.
She said markets that are vacated by China are often tapped by these 2 Union Territories (UTs).

She said chance is there because China is moving out from the handmade carpets segment and now that the segment is searching for new opportunities to take a position in this region.

“India is manufacturing 60 percent of manmade carpets in the world. can this region become a hub for that carpets,” she added.
Healthcare and education hold huge potential for investors in this region, she added.

The Minister said that as there are eight languages spoken in this region, one will look at media and infotainment segments for developing native content.

Irani, who is also the Minister for women and child development, said the Ministry has decided to establish chairs in universities and colleges in the name of women who have played a key role in the development of the country.

She said Lal ded chair for spiritualism is now aiming to be financially and academically backed by the Ministry in conjunction with UGC under the aegis of the Human Resource Development Ministry. Lal ded is Kashmir’s best-known spiritual and literary figure.

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