The Government is working on schemes that will offer significant incentives to promote industrial development in the Union Territories (UTs) of Jammu & Kashmir and Ladakh said Union Minister of Commerce and Industry & Railways, Piyush Goyal, in New Delhi today.

Piyush Goyal was speaking at a conclave on Kashmir on omics held to discuss about the strategy for the economic development of Jammu &Kashmir and Ladakh. The forum was addressed by Commerce and Industry &Railways Minister and Smriti Zubin Irani, Union Minister of Women and Child Development and Textiles. Representatives of industry, civil society,economists and government officials were present at the conclave.

Commerce and Industry & Railways Minister said that the Ministry is formulating a plan for setting up more inland container depots,trade development centres, modern institutes of eminence and registering more products of the region with the GI tag.

Piyush Goyal further said that railways projects that are being implemented will make both UTs among the most developed region in the next ten years. The sectors that hold great promise and that are still un tapped are tourism, food processing, hydro and solar power said Piyush Goyal. He addedthat these sectors have the possibility of ensuring sustainable and balanced development in Jammu & Kashmir and Ladakhand will bringlong term andbalanced development to the different parts of the region, reaching even theremotest corners the Minister added.

Commerce and Industry Minister further said that the worldknows about the beauty of Jammu & Kashmir and tourism has the potential tobecomeone of the biggest revenue earners for the local people of the region.Hefurther said that the prosperity of the region and the people that had beenheld back for so many years will now be addressed as all GovernmentDepartments, public and private sector and non-governmental organizations cometogether to integrate Jammu & Kashmir and Ladakh to the rest of the country.