‘New Industrial Policy envisages industrial development of all regions’

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.
He was replying to a question of Ghulam Nabi Monga in the Upper House. The minister informed 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.
Prakash informed that the Industries & Commerce Department doesn’t provide direct employment instead facilitates to create infrastructure by way of establishment of industrial units. He said that the new policy will promote the growth of thrust industries and encourage hi-tech and knowledge-based industries including electronics and information technology, besides promote Human resource development and technical education for creation of a pool of skilled manpower.
The minister said 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.
Prakash added 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.
The minister said the industrial units are being provided with round- the-clock power supply, with minimum power cuts.