New Delhi, Aug 31 ( KINS ) Union home minister Amit Shah on Tuesday launched a portal for the registration of units for Industrial development in Jammu & Kashmir. Shah encouraged industry leaders to invest in the Jammu and Kashmir to help develop the Union territory.
“The launch of this new portal under the ‘New Central Sector Scheme 2021’ will offer benefits of over ₹24,000 crores to the industrial sector. This is just an estimate,” Shah said, adding that the actual benefits will be greater than the estimate.
The home minister further stated that the youth of Jammu & Kashmir had to depend on government undertakings for employment due to the lack of industries in the erstwhile state. He asserted that Article 370 and 35A were the biggest hurdles for private sector investment.
Union ministers Piyush Goyal and Jitendra Singh were also present alongside Shah for the launch of the portal.
The portal was launched under the ‘New Central Sector Scheme for industrial development of Jammu and Kashmir’ which is applicable for any eligible manufacturing entity or eligible service sector enterprise registered business enterprise under Goods and Service Tax, according to the ministry of commerce & industry.
