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| Poor governance and environment keep investors away from J&K | | | EARLY TIMES REPORT
Jammu, Aug 30 (KIP):-Notwithstanding repeated pleas the state Government for investing in the industrial sector in Jammu and Kashmir investors shied away from the state.
Official circles connected with the Departmnt of Industries said that slow growth in the industrial sector has been attributed to various factors including the militancy related violence during the last over two decades, low productivity in agriculture and allied sectors. This low productivity, according to Government circles, has impeded employment and income generation.
They said that non local investors had not shown any interest in investing in the industrial sector owing to a number of reasons. To them poor industrial infrastructure along with poor investment climate have left the industrial sector in its infancy stage.
Some of the key industrialists have found lack of good governance and sound fiscal management responsible for poor economic growth.
These industrialists have conveyed to the Government their willingness to invest in setting cold stores, juice plants, canning factory and in other allied sectors if these sectors received industrial status and were exempted from sales tax.
The state Government has requested the leaders of Confederation of Indian Industries(CII) to help in building confidence among the investors. The CII leaders have been urged to interact with potential investors so that they visit Jammu and Kashmir for setting up industrial units for which they would receive series of incentives from the Government.
The state Government also plans to approach the central Government to promote public investment in Jammu and Kashmir which was required for resolving the unemployment problem and for allowing the troubled state to be in a position to export industrial goods.(KIP)
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