With the mantra of government being facilitator rather than regulator, the Jammu and Kashmir administration has accorded sanction to the implementation of a new Industrial Policy 2021-30  with effect from April 1, 2021 with the aim of spreading industrialization and creating employment in the union territory.

As per the policy document released by the industries department, all Industrial units coming into commercial production from April 1 as well as the existing units undertaking substantial expansion, shall be entitled for incentives under this policy while the existing units eligible for incentives under the erstwhile Industrial Policy 2016 shall be allowed to avail the same under the old policy till March 31, 2026.

As per the policy, there shall be 100 percent subsidy on purchase/installation of Diesel Genset, 60 percent subsidy on purchase/installation of pollution control devices, 30 percent subsidy on obtaining quality certificates, 30 percent subsidy on automation and 50 percent subsidy on green environment protection initiative.

The policy mentions that the government would act as facilitator rather than regulator.