Business establishment process in J&K simplified
ECONOMY & POLICY

Business establishment process in J&K simplified

With no registration and fewer approvals, businesses may now find it easier to establish themselves in the union territory of Jammu and Kashmir, which has been in a political turmoil for decades. In a bid to revive the business sector and boost investor confidence with a business-friendly environment, the Jammu & Kashmir (J&K) administration has approved a series of measures for simplifying the business establishment process.

The Administrative Council (AC) has relaxed the prerequisite no-objection certificates (NOCs)/approvals for setting up a business unit. The Udyog Aadhar Memorandum shall be the only requirement for a business unit to be set-up. 


According to the administration, as many as 15 NOCs and clearances were required earlier for a business unit to be established, and have now been reduced to a bare minimum. These bare minimum NoCs and approvals shall be required subsequently, for which two sets of single window committees have been set up—one for business units coming up within industrial estates and another for units outside the industrial estates. 


These Committees shall ensure time-bound issuance of the NoCs/Approvals pertaining to water connection, power connection, building plan, etc., as per specified timelines on case to case basis. Further, a divisional level committee has been approved, which shall periodically monitor the working of the above committees and address issues, if any, related to the issuance of NOCs/approvals.


No prerequisite approvals will be required as a general rule except for NOCs/ approvals from departments like Pollution Control Board (CTE/CTO), NOC from Fire and Emergency Department, Change of Land Use from Revenue Department, etc. wherever applicable.


In January, the Centre approved a new industrial developmental scheme with an outlay of Rs 28,400 crore to give a major push to the region's economy and provide huge employment opportunities to the people.


The scheme aims to take industrial development to the block level in the union territory (UT) of J&K, which is for the first time in any industrial incentive scheme of the government and attempts for a more balanced and sustained industrial growth in the entire UT.


Image: Opportunity projections for Jammu and Kashmir have mainly been in transport, logistics, and real estate.



Also read: Centre approves grant for 28 food processing projects

Also read: India jumps up 79 positions in World Bank doing business rankings

With no registration and fewer approvals, businesses may now find it easier to establish themselves in the union territory of Jammu and Kashmir, which has been in a political turmoil for decades. In a bid to revive the business sector and boost investor confidence with a business-friendly environment, the Jammu & Kashmir (J&K) administration has approved a series of measures for simplifying the business establishment process.The Administrative Council (AC) has relaxed the prerequisite no-objection certificates (NOCs)/approvals for setting up a business unit. The Udyog Aadhar Memorandum shall be the only requirement for a business unit to be set-up. According to the administration, as many as 15 NOCs and clearances were required earlier for a business unit to be established, and have now been reduced to a bare minimum. These bare minimum NoCs and approvals shall be required subsequently, for which two sets of single window committees have been set up—one for business units coming up within industrial estates and another for units outside the industrial estates. These Committees shall ensure time-bound issuance of the NoCs/Approvals pertaining to water connection, power connection, building plan, etc., as per specified timelines on case to case basis. Further, a divisional level committee has been approved, which shall periodically monitor the working of the above committees and address issues, if any, related to the issuance of NOCs/approvals.No prerequisite approvals will be required as a general rule except for NOCs/ approvals from departments like Pollution Control Board (CTE/CTO), NOC from Fire and Emergency Department, Change of Land Use from Revenue Department, etc. wherever applicable.In January, the Centre approved a new industrial developmental scheme with an outlay of Rs 28,400 crore to give a major push to the region's economy and provide huge employment opportunities to the people.The scheme aims to take industrial development to the block level in the union territory (UT) of J&K, which is for the first time in any industrial incentive scheme of the government and attempts for a more balanced and sustained industrial growth in the entire UT.Image: Opportunity projections for Jammu and Kashmir have mainly been in transport, logistics, and real estate.Also read: Centre approves grant for 28 food processing projectsAlso read: India jumps up 79 positions in World Bank doing business rankings

Next Story
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?