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DIC Sgr hosts workshop to boost industrial development 

May 17, 2024

SRINAGAR: In a bid to strengthen the business ecosystem in Jammu and Kashmir, the District Industries Centre (DIC) Srinagar organized a Workshop cum Awareness Camp at the Indian Institute of Craft Technology (IICT). The event, held under the directions of Director Industries & Commerce, Kashmir, saw enthusiastic participation from unit holders, including representatives from hotels and clinical establishments.

Led by General Manager (GM) DIC Srinagar, the workshop aimed to inform attendees about the Government of J&K’s incentive schemes, particularly the Department of Industry & Internal Trade’s (DPIIT’s) New Central Sector Scheme (NCSS-2021) for Industrial development of J&K. The General Manager assured participants of DIC’s full support in navigating the registration process for these incentives and urged unit holders to spread awareness about the schemes to cultivate a business-friendly environment in the region.

A joint team of DIC officials and resource persons from Ernst & Young LLP (DPIIT PIU for NCSS & IDS) outlined the benefits of the NCSS-2021. These incentives include a 30/50% Capital Investment Incentive (CII), a 6% Capital Interest Subvention (CIS) on term loans for seven years, 100% GST Linked Incentive (GSTLI) for ten years, and 5% Working Capital Interest Subvention (WCIS) for five years. Detailed guidance on the required documentation and the application procedure was also provided.

The camp concluded with a vote of thanks, and facilitation in registrations for NCSS incentives was also done for units which were found to be eligible as per policy guidelines.

The General Manager also announced that a similar Facilitation cum Awareness Camp will be held at Industrial Estate Khunmoh on May 21.

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