The Bold Voice of J&K

Biz sense

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Ease of doing business in Jammu and Kashmir is an alien word if the recent data released by Department of Industrial Policy and Promotion which has stated state among the lowest performing ones in the list of 32 of the country.  J&K is positioned at 31st rank with 0.30% score. The bane of the state is that there is no industry within the bracket of high-value, high-turnover. Concerned over the low growth Confederation of Indian Industries (CII) Industry members urged State Government to immediately form a special taskforce for enacting the ease of doing business reform for industry in the State. The index published by Department of Industrial Policy and Promotion (DIPP), is an aggregate figure that includes different parameters which define the ease of doing business. Though the State has the potential to enhance its position in the list of ease of doing business the manufacturing and services sector is small and minuscule and carries disadvantage of  geographical location with markets for raw material and finished products far from the main land with variable value added tax (VAT) and other levies, no skill available locally have made manufacturing a cumbersome process for the business house and whatever trading is, it is confined to over the counter trading with large segment confined to retailing .  The change is taking place but it is too slow. Many Industrial promotional agencies such as SIDCO, SICOP, Small Industries Services Institute (SISI) and Directorate of Industries and Commerce perform various functions to foster industrialization in the State. Both Central and State Governments announced a package of incentives to attract industrial investments in J&K. CII has not only helped the state for its industrial growth but also taken into consideration various other aspects for the promotion of industrial activities of the state. CII inevitably look up for the skill development initiatives for addressing the unemployment of the state. Also, it has primarily fulfilled its social responsibility towards the state. There have been talks with various industrialists from other states and countries, for bringing in investment and skill by willing to start their industries here. But when it comes to dealing with babudom in the state it is an uphill task. And one is surprised how this age-old nature of Babu which has not changed till date will help in bring in the new industrial environment?

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