New Delhi: The government is working on several incentives and steps to promote industrial development in the Jammu and Kashmir region, Commerce and Industry Minister Piyush Goyal said on Wednesday.
Speaking at the KASHMIRONOMICS CONCLAVE 2019, the minister said that companies from the United Arab Emirates (UAE) and Dubai are keen to explore business opportunities in this region.
He said that huge investment potential was there in sectors such as hydropower, pharmaceuticals, tourism and food and he was hopeful that more and more people would set up industries and invest in the region.
“You will hear more in the days to come and in the budget to come,” Goyal said.
The government, he said, is planning to set up inland container depots and grant geographical indication (GI) tags to some local products such as apricot and Sea buckthorn plant, which is a multipurpose shrubs species in Ladakh cold desert.
This plant has the capacity to tolerate harsh weather and temperature in the range of (-) 40 degrees Celsius to 40 degrees Celsius.
A GI is primarily an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a definite geographical territory.
Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin.
Further, he added that there are plans to set up modern institutes and skill development centres in this region.