Financial Institutions and Industrial Development in J&K
Discover the role of financial institutions in promoting investments and industrial development in Jammu & Kashmir. Learn about State Financial Institutions, their vision, mission, and the Industrial Development Corporation's initiatives in the region.
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Presentation Transcript
FINANCIAL INSTITUTES FINANCIAL INSTITUTES
FINANCIAL INSTITUTIONS It is an institution that provides financial services. It is an institution that provides financial services. It acts as financial intermediary. It acts as financial intermediary.
STATE FINANCIAL INSTITUTIONS STATE FINANCIAL INSTITUTIONS They act as catalyst for promotion of investment They act as catalyst for promotion of investment and industrial development in the respective states. and industrial development in the respective states. This plays a crucial role in the development of small This plays a crucial role in the development of small and medium enterprises in the concerned states. and medium enterprises in the concerned states. SFCs have been set up with the objective of SFCs have been set up with the objective of catalyzing higher investment, generating greater catalyzing higher investment, generating greater employment and widening the ownership base of employment and widening the ownership base of industries. industries. There are 18 SFCs in the country. There are 18 SFCs in the country.
VISION To receive the corporation on a sustained To receive the corporation on a sustained basis for development of MSME and allied basis for development of MSME and allied sectors in the state of J&K. sectors in the state of J&K.
MISSION To provide hassle free credit at competitive cost to To provide hassle free credit at competitive cost to prospective entrepreneurs. prospective entrepreneurs. Facilitate and catalyze employment of idle Facilitate and catalyze employment of idle resources, both men and material, in the state. resources, both men and material, in the state. Development of E Development of E- -Ship. Ship.
INDUSTRIAL DEVELOPMENT CORPORATION
SIDCS They have been setup with the aim of promoting They have been setup with the aim of promoting industrial development in the respective states and industrial development in the respective states and providing financial assistance to small providing financial assistance to small entrepreneurs. entrepreneurs. They are also involved in setting up of medium They are also involved in setting up of medium and large industrial projects in the joint and large industrial projects in the joint sector/assisted sector in collaboration with private sector/assisted sector in collaboration with private entrepreneurs or wholly owned subsidiaries. entrepreneurs or wholly owned subsidiaries. Examples: Jammu and Kashmir state industrial Examples: Jammu and Kashmir state industrial development corporation. development corporation.
J&K SIDCO It is the nodal agency for promotion and It is the nodal agency for promotion and development of small, medium and large scale development of small, medium and large scale industries in state. industries in state. It was established in 1967. It was established in 1967. It plays a role of Institutional entrepreneur . It plays a role of Institutional entrepreneur . J&k J&k has tremendous potential for investment in has tremendous potential for investment in tourism sector. tourism sector.
FEATURES FEATURES 100% excise Exemption FOR 10 YEARS. 100% excise Exemption FOR 10 YEARS. 5 years of 100% income tax holiday . 5 years of 100% income tax holiday . Capital investment subsidy Capital investment subsidy upto lacs lacs for thrust area project. for thrust area project. Land on 90 years lease. Land on 90 years lease. GoI GoI grant grant upto upto Rs. 75 lakhs @ 33.33% for food Rs. 75 lakhs @ 33.33% for food processing industries. processing industries. Upto Upto Rs 4 crores subsidy on Agro based projects. Rs 4 crores subsidy on Agro based projects. 100% subsidy on testing equipments. 100% subsidy on testing equipments. upto Rs.30 Rs.30 lacs lacs Rs.45 Rs.45
FEATURES CONTD A host of incentives on capital goods, term loan, A host of incentives on capital goods, term loan, transportation, working capital, branding etc. transportation, working capital, branding etc. Single window clearance for pre Single window clearance for pre- -project approvals of land, power and pollution. of land, power and pollution. The insurance premium reimbursement to the The insurance premium reimbursement to the extent of 100% on capital investment for a period extent of 100% on capital investment for a period of 10 years to all new and existing units. of 10 years to all new and existing units. project approvals
ROLE To conduct work for promotion of industry by To conduct work for promotion of industry by conducting seminars. conducting seminars. Identification of technically feasible and financially Identification of technically feasible and financially viable projects. viable projects. Grant of financial assistance to industrial projects Grant of financial assistance to industrial projects having investment up to 30 lakhs and participation having investment up to 30 lakhs and participation in the equity of selected joint or assisted sector in the equity of selected joint or assisted sector projects. projects. It has established 7 industrial estates to provide It has established 7 industrial estates to provide infrastructure facilities at identified locations. infrastructure facilities at identified locations.
ROLE CONTD Industrial growth centers and Export promotion Industrial growth centers and Export promotion industrial parks are set up by way of industrial parks are set up by way of Acquiring land Acquiring land Constructing internal roads Constructing internal roads Affluent disposal facilities Affluent disposal facilities Providing water and power in industrial estate. Providing water and power in industrial estate. The corporation also offers financial assistance for The corporation also offers financial assistance for setting up setting up --- ---new units, for diversification, for expansion, new units, for diversification, for expansion, and modernization. and modernization.
J&K DIRECTORATE OF INDUSTRIES AND COMMERCE Established in 1970. Established in 1970. In 2007 got bifurcated. In 2007 got bifurcated. The state is emerging as a land of opportunities for The state is emerging as a land of opportunities for investments. investments. About 10,000 kanals of land is being acquired About 10,000 kanals of land is being acquired under 18 land acquisition cases to develop new under 18 land acquisition cases to develop new industrial estates. industrial estates.
ROLE OF DIC Promotion and development of industries. Promotion and development of industries. Planning and development of industrial estates. Planning and development of industrial estates. Registration of new units. Registration of new units. Nodal agency for implementation of central and Nodal agency for implementation of central and state package of incentives. state package of incentives. Implementation of Prime Ministers employment Implementation of Prime Ministers employment generation program. generation program. Registration of firms under J&K partnership act. Registration of firms under J&K partnership act.
JKEDI It has been established by govt. of J&K in March It has been established by govt. of J&K in March 1997. 1997. Started its regular activities from February 2004. Started its regular activities from February 2004. It is a pioneering institute of E It is a pioneering institute of E- -Ship. It positioned itself as learning centre par excellence It positioned itself as learning centre par excellence with state of art regional centers. with state of art regional centers. JKEDI community organizers are in 22 districts JKEDI community organizers are in 22 districts enabling E enabling E- -Ship. Ship. Ship.
OBJECTIVE Motivate Motivate Train and Train and Facilitate Facilitate career option. career option. To create employment opportunities not only for To create employment opportunities not only for themselves but also for others. themselves but also for others. educated youth to take up E educated youth to take up E- -ship as a ship as a
FUNDING PATTERN Non refundable seed money of 35% of the Non refundable seed money of 35% of the project cost subject to maximum limit of: project cost subject to maximum limit of: Rupees 3 Rupees 3 lacs lacs for under graduates/graduates. for under graduates/graduates. Rupees 5 Rupees 5 lacs lacs for post graduates. for post graduates. Rupees 7.5 Rupees 7.5 lacs lacs for Doctors, Engineers, MBA s. for Doctors, Engineers, MBA s. 65% of the project cost will be provided by J&K Bank as 65% of the project cost will be provided by J&K Bank as loan @9% per annum. loan @9% per annum.
ROLE To take initiatives in the field of E To take initiatives in the field of E- -Ship as an academic pursuit. academic pursuit. To prepare, process and implement proposals for To prepare, process and implement proposals for tie tie- -ups with other institutions. ups with other institutions. To co To co- -ordinate summer trainings or internship of ordinate summer trainings or internship of students of professional institutes. students of professional institutes. To enable learning and facilitate trainings aimed at To enable learning and facilitate trainings aimed at grooming and development of the human capital grooming and development of the human capital of the institute. of the institute. Ship as an
SICOP Small scale industries development corporation Small scale industries development corporation limited(SICOP) to promote and develop small scale limited(SICOP) to promote and develop small scale industries in state. industries in state. Incorporated on November 28, 1975 as fully Incorporated on November 28, 1975 as fully owned J&K Govt. under the Indian Companies Act owned J&K Govt. under the Indian Companies Act 1956. 1956.
OBJECTIVES Sustainable industrial development of all regions of Sustainable industrial development of all regions of the state. the state. Improving competitiveness of existing units by Improving competitiveness of existing units by facilitating modernization. facilitating modernization. Balanced economic and social development by Balanced economic and social development by promoting industrialization of backward areas. promoting industrialization of backward areas. Encouraging research and development. Encouraging research and development.
ROLE Marketing support Marketing support Marketing assistance to SSI units. Marketing assistance to SSI units. Supply of raw material Supply of raw material Procurement and supply of raw material. Procurement and supply of raw material. Testing facilities Testing facilities Quality control and testing of finished products. Quality control and testing of finished products.
