Under the new industrial policy the government is trying to promote the local products to get the chain of international markets.
In this direction to facilitate export of local products to international markets, export hubs will be created under this year’s budget. The government is also encouraging officers to give an active push to exports, marketing promotion programmes for handicrafts focusing on the global market, development of industrial estate connected to significant economic nodes to maintain the momentum of growth.
The Budget has also kept a provision for adoption of plug and play models for key development sectors including the manufacturing sector.
Handicraft and handloom sector of the Union Territory has recorded an unprecedented growth in the last three months and registered Rs 729 crore worth exports despite instability in the global market.
Under the guidance of Prime Minister Narendra Modi, Jammu and Kashmir has set a new record in establishment of village industrial units. In the last financial year, 1.73 lakh new jobs were generated under PMEGP (PM’s Employment Generation Programme) alone.
The Jammu and Kashmir government has already taken a slew of measures towards promotion of ease of doing business in the UT which has received tremendous response from various potential investors. Besides, further steps are being taken up for reducing compliances on “Ease of Living” and “Ease of Doing Business”.
The main aim of “One District One Product” is to promote local products for export. In this regard, Jammu and Srinagar districts have been selected among the 75 districts across India for export of local products.