Announced in May last, the industrial policy aimed at attracting over Rs 2,000 crore investment every year for the next ten years to remain effective up to March 2026. To stimulate setting up of industry in Jammu and Kashmir, the government had issued fresh regulatory order to provide a simpler mechanism to start and operate a business unit in the State. Though a major shift from the past the order was to ensure an enabling frame work for stimulating business which was a welcome step. The new order was expected to reduce the complexity of complying with the business regulations thus stimulating growth. A Single Window clearance mechanism would help to boost the growth in a state which never saw much of industrial activity with meager employability for the skilled and semi-skilled work force. Jammu and Srinagar as compared to other districts would have Director Industries and Commerce heading the District Level Single Window Clearance Committee. Even the Minister for Industries and Commerce Chander Prakash was on records when he said the new industrial policy would help in reviving the ailing industry and allow the much needed flow of Foreign Direct Investment (FDI) to achieve the set targets. The strengthening of the industrial sector of the state can play a vital role in bringing economic stability. The new initiatives would make the cumbersome document processing a somewhat quicker one if the corruption part is removed and accountability factor is inducted into the government departments. Jammu and Kashmir may be trying to replicate a Gujarat model of Single Window system for which one needs a system which is responsive and accountable to modern day requirements. The State Government should also concentrate on reviving of closed public sector units because of the lethargic government approach in the past. Jammu and Kashmir has 53 existing industrial estates spread over 35,102 kanals. A comprehensive industrial policy came into being in 2004 in J&K which focused on private sector industrialisation in backward blocks of the state and modernisation of the existing units but till date the much needed impetus has not been able to generate resultant effect industrial activities remain mostly a non-profitable proposition for the entrepreneurs. It has also dented the much touted flow of investment too.
