In today’s competitive environment, the role of brands in promoting sales is significant. The policy has introduced an incentive for assisting industries of the state to acquire and promote their own brands. This incentive will be extended for the first three years, 50% of expenses subject to a limit of Rs. 20 lakhs in the first year, 30% of expenses subject to a limit of Rs. 15 lakhs in the second year and 10% of the expenses subject to a limit of Rs. 10 lakhs in the third year.
Environment protection has become an issue of global importance. To protect our environment and prevent damage to our land and water resources, the government would install common effluent treatment plants in industrial clusters where necessary, with central and state’s resources. For individual units, installing their own pollution control devices, subsidy will be provided on such equipment to the extent of 30% subject to a limit of Rs. 20 lakhs.
The thrust areas for development have been expanded to conform to similar list of the central government. The limit of CIS available to the thrust area industries and prestigious units will be Rs. 45 lakhs and Rs. 60 lakhs. For prestigious industries in thrust areas the cap on CIS is Rs. 75 lakhs.
Transport subsidy under the government of India scheme will be available until 2007.
A list of subsidies available under the Industrial Policy 2004 is annexed.
With a view to achieve closer interaction between the industry and the government, an Industrial Committee with the Chief Minister as the Chairman, Deputy Chief Minister in charge of Industries and Commerce and Minister of State for Industries and Commerce as members, Secretaries of all economic departments, representatives of Chambers of Commerce of Jammu and Kashmir, Federation of Industries of Jammu and Kashmir and representatives of Ministry of Commerce and Industry, Government of India, as members will be set up. This committee shall meet once a quarter. Principal Secretary, Industries and Commerce, will be the member-secretary of this committee. This committee will respond to the needs of the industry from time to time for providing prompt response to emerging situations in a highly competitive environment.
For interpretation of the provisions of Industrial Policy 2004, a Permanent Grievance Redressal Committee consisting of Director Industries and Commerce, Commissioner, Sales Tax and Commissioner Excise shall be established. No consignment claiming benefit under the Industrial Policy 2004 will be detained at the entry point of the state for more than 24 hours. In case of doubt, notices will be issued outlining objections and the Permanent Grievance Redressal Committee, meeting once a fortnight, will dispose of such notices. The decision of this committee shall be final.
The government expects that the Industrial Policy 2004 will usher in a new era of industrialization in the state.
