The State Administrative Council (SAC), which met here last evening under the chairmanship of Governor, N N Vohra gave nod to the first ever J&K Trade & Export Policy, 2018-28.
The policy reflects the dynamics of Jammu & Kashmir State as an agrarian economy in transition towards a market driven one, said an official handout.
“It is aimed to transform the state economy from a supply constrained one into a competitive export-led entity responsive to enhanced domestic integration and wider participation in national and global economy in tune with the national policies.”
It will create an enabling eco-system to ensure effective participation in the designed framework-based trading system that has emerged at the National and International levels and help in seizing opportunities available in global liberalized market.
“The envisioned targets in the policy include, to enhance the Domestic Trade Volume by 5 times in next 10 years; to transform the system from regulator to facilitator and from performer to enabler; to provide employment opportunities to educated unemployed and skilled youth in export trading of goods and services; to encourage, promote and facilitate more investment in enterprises and built a strong, responsive and vibrant business environment in the state,” said the handout.
The policy shall be valid for a period of 10 years or till a new Trade and Export policy is announced. (CNS)