130 industrial services now online in J&K; 160 more to be integrated this year: Officials

JAMMU — After providing 130 industrial services online on a single-window clearance system, the Jammu and Kashmir administration intends to integrate at least another 160 services this year to benefit prospective investors, officials said on Saturday.

Jammu and Kashmir was the first among the union territories to integrate its Industrial Development Scheme (IDS) with the Centre’s National Single Window System (NSWS), a digital platform for investors to get their projects approved.

According to officials, the new reforms are bringing in additional businesses and in 2021 alone, Jammu and Kashmir received Rs 70,000 crore of investments.

The IDS was announced in January 2021 with a total outlay of Rs 28,400 crore to encourage new investments in the union territory and to take industrial development to the block level.

Jammu and Kashmir has entered a new age of developmental trajectory with the integration of IDS with NSWS, an official said, adding that it is a “giant leap” in promoting the Ease of Doing Business.

IDS was soft-launched in September last year by the Minister for Commerce and Industry Piyush Goyal.

Through this window portal, Jammu and Kashmir is being linked to a larger network of partnerships that include both domestic and foreign companies, thus making room for the region to be more competitive, they said.

To attract robust investments, the department of Industries and Commerce, the nodal agency for implementing the industrial reforms, is supervising the compliance of Business Reforms Action Plan, 2022 and Regulatory Compliance Burden, 2022.

As NSWS is linked with the India Industrial Land Bank (IILB) – it hosts 45 industrial parks in Jammu and Kashmir – it will help investors discover available land parcels in the union territory, the officials said.

In simple terms, the NSWS will eliminate the need for investors to visit multiple platforms or offices to gather information and obtain clearances from different stakeholders, they said. — (PTI)