The Government of Jammu and Kashmir has made several policy announcements in order to attract large capital inflows into the economy. These policies aim to utilise resources of the State in an effective manner, so as to maintain the balance among growth of the various sectors. They guide the investors about various opportunities in the State and provide them numerous incentives and schemes.

The major being, the Industrial Policy, which aims to usher in a new era of industrialization in the State. The basic objectives of the policy are to:-

• Achieve sustainable industrial development in all regions for increasing the rate of growth, value of output, employment, income and overall economic development of the State
• Strive towards balanced economic and social development in all regions of the State by promoting industrialization particularly of the industrially backwards areas;
• Encourage and sustain the cottage and tiny industrial sector which can provide employment to a large number of people in the State
• Create a supportive environment with transparency and easy access in information, technology and financial resources
• Revive potentially viable sick industrial units so as to put to optimum use the capital and other resources already employed in such enterprises
• Promote the growth of thrust and export-oriented industries and encourage high-tech and knowledgeable based industries, including information technology
• Take necessary steps in the field of human resources development to make available skilled / technical manpower as per the needs of industry.

Another important policy is the Information Technology (IT) Policy, which has been formulated with a view to facilitate the creation of a sound IT production base in the State. The main objectives of the policy are to:-

• Use IT in the process of Government functioning to bring about Simple, Moral, Accountable, Responsive and Transparent (SMART) governance to its citizens
• Use IT effectively in industries especially where the State has competitive advantages, for making such industries more global and help them to generate additional revenues
• Diversify the local industries into being web-enabled and attract IT companies from elsewhere in the country and the world
• encourage the use of Information Technology in schools, colleges and educational institutions so as to enable students to improve their skills, knowledge and job prospects
• Accelerate the investment and growth in IT hardware, software, Internet, training, IT enabled services, telecom, e-commerce and related sectors in the State
• Utilize the power of IT in the overall goal of improving healthcare; empowering women, rural and tribal communities as well as economically weaker sections of society
• Use Information Technology for generating additional employment for the new digital economy
• Provide adequate infrastructure in the State, so that the IT sector can flourish and provide better quality of life to the citizens
• Facilitate localization of software, so that benefits of IT could percolate not only in the English language, but also in the local languages
• Use IT for heralding world class E-Tourism in the State
• Bring the specialized treatment to the remotest area of the State through telemedicine and
• Use IT to boost trade and commerce in areas of traditional strength of the State such as handlooms, handicrafts and horticulture.

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