The Administrative Council’s resolution comes in the backdrop of Global Investors Summit scheduled to be held later in the yr to entice investments in the union territory, an official spokesman mentioned.
Focusing on buyers and present enterprise organisations, he mentioned the federal government has introduced new policies for facilitating ‘Ease of Doing Business’ in Jammu and Kashmir (J&Okay).
“Out of the 14 recognized focus sectors for Investors Summit, 13 sector policies are being drafted with an addition of 1 Umbrella Policy 2020 for MSME, massive and mega items.
“These sectoral policies provide for integrated development of various sectors to create business environment thereby attracting investors to make gainful investments in J&K and balanced industrial growth at reduced costs leading to creation of employment opportunities, income generation and overall economic development,” he mentioned.
The J&Okay Tourism Policy-2020 goals to make J&Okay most most well-liked all-season vacationer vacation spot for home and overseas vacationers in India by 2025, generate employment alternatives for the individuals, impart coaching to round 4,000 vacationer service suppliers over the subsequent 10 years, promote all type of tourism throughout the UT, and to promote city-wise occasions and festivals with a pre-defined calendar and promote the identical at nationwide and worldwide degree, he mentioned.
The J&Okay Captive Power Policy-2020 would encourage funding in establishing captive energy vegetation in the union territory (UT).
“This will not only enable the industrialists to cater their load demand as and when required but will also enable them to sell surplus power in the grid, adding to the total installed capacity through captive generation and will further strengthen the process of industrial development,” he mentioned.
The transfer can be a step in direction of bridging the hole between provide and demand and assist in the march in direction of supplying 24X7 high quality energy to industrialists.
The J&Okay Hydro Power and Renewable Energy Policy-2020 would promote technology of inexperienced and clear energy utilizing hydro and photo voltaic vitality, create situations conducive to the involvement of investor in renewable vitality tasks, improve use of photo voltaic vitality sources that help in mitigating environmental air pollution.
The J&Okay AYUSH Care Investment Policy-2020 goals to understand the obligations of J&Okay for offering high quality AYUSH care companies to residents inside a pluralistic system of integrative AYUSH healthcare, in order to guarantee the supply of healthcare at doorsteps of the frequent plenty, the spokesman mentioned.
He mentioned it additionally goals to promote medicinal vegetation sector in J&Okay to preserve, market and course of the vegetation for establishing natural industries in J&Okay.