Tuesday 20 April 2021

News Analysed, Opinions Expressed

Economy | Industry

Sops to industries in Kashmir valley


The Jammu and Kashmir government expects industrialists to respond to their attractive package for industrial development of the region, while it has also provided incentives to the locals to promote its tourism industry.

Dr Farooq Abdullah, the J & K chief minister, seems to have given top priority to setting up the administration right. "It has to reach the people in an efficient manner, to build confidence in us", he says.

While expressing concern over the growing unemployment in the region, he has also offered bank loans for self-employment and tourism-related business at the rate of five per cent interest. The state bears the balance amount of interest. "We will also provide 20,000 government jobs", he assures.

With industries beginning to come in, Dr Abdullah hopes the unemployment problem would be solved in a phased manner. With Birlas expanding its textile industry and another group setting up a textile mill, he has planned a Textile City in Kutua.

Sambha, having a rail link, is also being developed as industrial area, says the chief minister. Ambuja Cements is putting up a huge plant there. Srinagar city is also awaiting a big food processing project with German collaboration.

In order to attract more industries to the region, which is speedily normalising now, the National Conference government has also decided to continue its major incentive of subsidised power supply at the rate of Rs 1.25 per unit.

The government has recently signed three MoUs with private firms for power projects, one in Jammu and two in the valley. Also, development of road network is taken up on priority basis, at the rate of five major roads in a year.

Dr Abdullah seems relieved with the increasing number of tourists every year, especially the domestic ones. But he refuses to take additional efforts to attract foreign tourists. "I don't care whether they come or not. I won't go on beating drums for them", he quips.

While stating that several foreigners are visiting the Kashmir valley, a major tourists attraction of India in the past, he however does not fail to appeal to the foreign tourists to realise that the situation in Kashmir has changed drastically and it is totally a safe region now.

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