The Kashmir Monitor is now on Telegram. Click here to Join

Guv seeks extension of NEIDS incentives to JK

Srinagar, Aug 07: To give a push to investment and industrialization in Jammu and Kashmir, Governor N N Vohra has urged the Government of India to extend to the State, the incentives available under North East Industrial Development Scheme (NEIDS)-2017.

The Governor has, through separate communications addressed to the Prime Minister, Narendra Modi, Union Finance Minister, Piyush Goyal and Union Minister for Industries and Commerce, Suresh Prabu, sought their intervention in getting incentives available under NEIDS extended to J&K to promote investment, industrialization and socio-economic stability in the State.

 

Pertinently, NEIDS was launched by the Government of India in 2017 to catalyze industrial development in the North Eastern Region and it will remain in force up to 31st March 2022.

NEIDS covers new units in manufacturing and services sectors and provides for Central Capital Investment Incentives for access to credit, Central Interest Incentive, Central Comprehensive Insurance Incentive, Goods and Services Tax Reimbursement, Income Tax Reimbursement, Transport Incentive and Employment Incentive. No such incentives are available under Industrial Development Scheme (IDS) for J&K which was launched in April 2018.

The Governor said given the State’s locational and other disadvantages, it needs robust handholding for channelizing sustained investments for economic development and employment generation.

Enumerating the cogent reasons for incorporating all the incentives available under NEIDS in IDS-J&K, the Governor has said that J&K suffers from several serious disadvantages including geographical remoteness; long distances from the major markets in the country; poor connectivity; infrastructural gaps and weather-related problems which deter investments in the State.

“It may not be purposeful for me to reiterate the various serious challenges we face in J&K, due to which MSME (Micro, Small and Medium Enterprises) sector continues to rely very heavily on the varied support which is provided by the Government. While we are taking all possible initiatives to provide skills to our youth establish their own enterprises, we shall not be able to achieve the envisaged headway unless we succeed in attracting large scale investors,” Vohra has said in his communication adding that several investors in J&K have withdrawn their commitments even after allotment of land and conclusion of lease deeds.

“I shall be grateful if you would please consider supporting our plea and issue very early directions for the incentives available under NEIDS being made available to our State under IDS-J&K,” Vohra said in his Communication to the Prime Minister.


US Ambassador calls on Vohra; discusses Indo-US ties

Meets Omar as well

Monitor News Bureau

Srinagar, Aug 07: Kenneth I Juster, Ambassador of United States of America to India, accompanied by Alexi Lefevre, Political Officer and Sukesh, Senior Political Specialist, called on Go

vernor N N Vohra at the Raj Bhavan on Tuesday.

Ambassador discussed with Governor matters relating to further strengthening of the rapidly advancing India–US understanding

on several fronts, particularly in regard to issues relating to the “war against terrorism”.

Governor mentioned to Ambassador Juster the many areas which have a very high potential for Indo–US collaborations and wished the Ambassador a useful stay at Srinagar.

During the day, the Ambassador of the United States also called on National Conference Vice President Omar Abdullah at his residence in Srinagar.

The US Ambassador and the NC Vice President held discussions on a wide range of issues pertaining to the State and the region in general.