JK asks Centre to extend Industrial Policy

Srinagar, Oct 9: The Jammu and Kashmir government has approached the Centre for extension of its incentives policy for development of industry in the state by a few more years, State Industries Minister S S Slathia has said.

Slathia said a large number of industrialists have sought an extension of the existing Industrial Policy, which is scheduled to expire in 2012, beyond next year so that its benefits can be fully availed.

"We have approached the Centre to extend the existing Industrial Policy for a few years as industrialists of the state could not get the benefits of the package fully so far," Slathia said.

Kashmir has witnessed widespread protests over the last three summers, which had a severe impact on industries and businesses here.

Slathia, speaking here yesterday at the inaugural function of the 56th Industrial and Handicrafts Exhibition at Kashmir Haat, said the government would be organising national-level handloom expositions and buyer-seller meets to provide better marketing channels for artisans of the state to sell their products.

The minister said the state has better potential for industrial growth, particularly the fruit, mineral, wood and leather industries, which have abundant raw material available locally.

He asked the stakeholders to help maintain peace in the state, which he said was imperative for inviting big investments from industrialists of the country.

PTI