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The Department for Promotion of Investments and Internal Trade (DPIIT) plans to engage a leading consulting agency for helping it and the UT government of Jammu and Kashmir in successful implementation of the ₹28,400-crore Central Sector Scheme for Industrial Development of J&K.
The agency, for which e-bids are being invited, will act as consultants for the Project Monitoring Unit (PMU) at the DPIIT level and Project Implementation Unit (PIU) at the Directorate of Industries level in Jammu and Kashmir and Ladakh for any upcoming industrial development scheme, per the Request For Proposal (RFP) issued by the government.
“It is important for the government to successfully implement the ambitious new industrial policy for J&K as a dramatic industrial transformation was one of the expectations generated when Articles 370 and 35A of the Indian Constitution were abrogated in 2019. But it is also very important to build a conducive investor climate simultaneously by bringing in political stability,” a trade expert tracking the matter told BusinessLine.
The scheme, notified last year by the DPIIT, aims to give fresh thrust to the development of J&K, led by industry and services, with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing one.
It is to be implemented over 2021-22 to 2036-37 with a total financial outlay of ₹28,400 crore; it envisages four types of incentives to new units, existing units and existing units that undertake expansion. The incentives include capital investment incentive, capital interest subvention, GST-linked incentive and working capital interest subvention.
Role of the selected agency
The selected agency should assist the Centre and the UT to appraise scheme applications, assist in scheme implementation, help in capacity building and carry out monitoring and impact assessment. It is expected to provide help in setting up the PMU and PIU, and deploy resources as per the requirement of DPIIT and Department of Industries and Commerce, J&K, per the notification.
It will also have to undertake development of implementation plan in coordination with the Department of Industries and Commerce, J&K, to collate and disseminate information.
The agency will need to support the DPIIT in development and enhancement of online portal for seamless information exchange with the department officials, appraisal team and the applicants.
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