STATE TIMES NEWS
SRINAGAR: Minister for Industries and Commerce, Chander Parkash on Thursday said that the New Industrial Policy envisages industrial growth and development of all the regions of the State with focus on employment generation.
Replying to a question of Ghulam Nabi Monga in the Legislative Council, the minister said that the objectives of New Industrial Policy is to encourage utilization of local available raw material, mineral resources and promote labour intensive of cottage industries in the traditional sectors to provide gainful employment to a large number of skilled and unskilled labour.
The minister added that the New Industrial Policy targets to increase the share of ‘manufacturing services and trade sector’ in Gross State Domestic Product (GSDP) and to attract an investment of, at least, Rs 2,000 crore per annum in the industrial sector. He said that the new scheme intends to create 15,000 employments annually for the unemployed educated youth. He said that there are 4804 registered units under MSME&LI and 34691 employments were generated in the past five years, while 53551 employments were generated under PMEGP.
