I&C Deptt hosts 5th Investor Meet

Jammu, Nov 25: To further ease out the processes and to address the issues being faced by the investors of registered units, an interactive session was organised by Directorate of Industries and Commerce Department Jammu here in the Convention Centre.

It was the 5th investor meet in Jammu held to improve the Ease of Doing Business. The investors’ meet was chaired by Dr. Arun Manhas, Director I&C Jammu and attended by the promoters of Industrial Establishments. The purpose of the meet was to look into the issues faced by the promoters who have been allotted lands and are in the various phases of project implementation in the different Industrial estates and in the private lands. The target was to strengthen ties between the Department of Industries and Commerce and the investor community.

At the outset, the Director I&C informed that this meet is in a series of meetings held to improve the Ease of doing Business and the target is to hand hold the investor and sort out the issues which they may be facing particularly inter-departmental issues.

Dr Arun Manhas appreciated and thanked the investor community for making the Industrial scenario more vibrant and bringing more investment in J&K. He further highlighted that in Jammu Division the Rs 28400 crore of financial packages under the New Central Sector Scheme stands committed and thanked the investor community for showing enthusiasm and for bringing their projects in the UT of J&K.

During the meeting, Director Industries Jammu emphasized that the Government is committed to creating a favourable business environment that attracts both local and national investors. The discussions also focused on key sectors and industries that hold significant potential for economic development and job creation and the issues faced by the promoters while grounding the investment.

The attention was drawn to the policy framework for the interdepartmental coordination viz Jammu and Kashmir Single window (Industrial Investment and Business Facilitation) Act, 2018 which intends to provide the one stop solution to the issues faced by the promoters of the Industrial Establishments. Director I&C, Jammu emphasised that ease of doing business stands improved and the Department of Industries and Commerce is just a call away.

The discussions were centred on topics such as IDS-2017  pending cases, investment incentives, regulatory reforms, infrastructure and land development, and the promotion of research and development initiatives. The investors expressed their confidence in the Government's commitment to creating a business-friendly environment, which bolsters their confidence in considering strategic investments. The investor community in one voice sought the extension of the registration date and enhancement of the Central package under the New Central Sector Scheme.They demanded the enhancement of the budgetary outlay for the scheme.

Certain queries about the interpretation of the New Central Sector Scheme 2021 were delivered by the team of the officials of Industries and Commerce Department on the spot.