Excelsior Correspondent
JAMMU, Jan 10: Confederation of Indian Industry (CII) today said that the new industrial scheme for J&K will bolster industrial activity in the Union Territory.
“CII believes that the incentives provided in the scheme such as the capital investment incentive, capital interest subvention, working capital interest incentives, and the Goods and Services Tax linked incentives will not only attract new industry but will also provide a boost to the existing industry of the UT of J&K,” said Farooq Amin, chairman of CII.
Furthermore, CII expects that the scheme will lead to a lot of job creation, which will help achieve the targeted 4.5 lakh jobs within the UT, he said while welcoming the new industrial scheme of J&K Government to boost industrialization within the UT.
He further stated that along with the industrial scheme it is equally important to strengthen the transport and logistics upto Kashmir, which is currently, is a big hindrance for the industry to export its products all over the world.
Ravnish Gulati, vice chairman, CII J&K stated that with the advent of this scheme, J&K would witness a remarkable transformation in the existing industrial ecosystem. He stated that this initiative by the Government has set the right foundation stone for the development and prosperity of the industry as well as entrepreneurship across J&K.
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