Srinagar: The hallmark of any developed region is the fine balance between the manufacturing, services and agriculture sectors. The industrial landscape of the UT of J&K is dominated by MSME as it contributes about 8 percent to the GSDP and employs the largest number of people in the services and manufacturing sectors. Around 25000 MSMEs are operational in the UT employing around 90% of the industrial workforce here.
In this backdrop, the Jammu and Kashmir Industrial Policy (JKIP)-2021-30 is a welcome change from the previous industrial policies. Combined with the incentives offered under “New Central Scheme for Industrial Development of Jammu and Kashmir” notified by the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, in 2021, the industrial ecosystem in J&K is set to witness a paradigm shift.
