J&K: Big Push For Investor Confidence As UT Administration Scraps Need For 15 NOCs To Set Up Industries

J&K: Big Push For Investor Confidence As UT Administration Scraps Need For 15 NOCs To Set Up IndustriesJ&K LG Manoj Sinha (Photo by Ramesh Pathania/Mint via Getty Images)

In a big fillip to ease of doing business for the industries in Jammu and Kashmir (J&K), the Union Territory (UT)'s administration has approved the elimination of at least 15 no-objection certificates (NOCs) as a prerequisite for setting up industries, reports Times of India.

Aiming at reviving the business sector and to boost investor confidence, the Administrative Council (AC) chaired by Lieutenant Governor (LG) Manoj Sinha has decided that the Udyog Aadhaar memorandum as per the condition of Government of India will be the only requirement for setting up a business unit in the UT from now.

The UT would now require a bare minimum set of approvals/NOCs. For these two sets of single-window committees have been established. One of these would cater to business units coming up within industrial estates and another would cater to units coming up outside industrial estates.

The administration believes that the single-window committees would ensure time-bound approvals of power connections, water connections and building plans as per specified timelines on a case-to-case basis.

The administration has also approved the setting up of a divisional-level committee which would periodically monitor the working of committees and address issues related to the issuance of approvals/NOCs, if any.