Lieutenant Governor Manoj Sinha on Sunday laid the foundation stone of a mega industrial unit in Jammu and Kashmir's Kathua district, saying that massive infrastructure development is stimulating rapid economic growth of the region.
He said that the union territory will soon become a manufacturing hub, a principal market of north, and a competitive provider of services.
The LG reiterated his commitment to decentralising the industrial infrastructure and creating opportunities in underdeveloped regions of Jammu and Kashmir.
"Massive infrastructure development is stimulating rapid economic growth of Jammu and Kashmir, which will soon become principal market of north, a manufacturing hub and a competitive provider of services", he said during his address at the event here.
He laid the foundation stone of Dhunseri Polyfilm Limited Industrial Unit in Dohlian Jattan village of Kathuaand said that the project will create thousands of jobs for locals, foster domestic economic upliftment and create massive business opportunities in the surrounding rural areas.
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Sinha highlighted that in the last few years, Jammu and Kashmir has witnessed a completely new work culture focussed on industrial growth that benefits all sections of society.
He observed that the young and skilled work force of the region is its strength and they will drive the future growth of the economy.
"We are witnessing an era of rising aspirations. Our youth are dedicated to creating a vibrant and industrious society and they have taken their destiny into their own hands and are shaping a brighter future for the union territory," he said.
"Unless industries are established, development will remain a dream. Due to the progressive industrial policy, regions like Jammu, Kathua, Samba are achieving new milestones in the industrial sector," he added.
From policy initiative to implementation on the ground, incredible achievements have been made for industrial growth of the region. "We have placed special emphasis on industries that will empower the local economy," Sinha claimed.
Transparent governance has improved management of resources and the rule of law has ensured that all stakeholder institutions, including government officials, are accountable, the LG said.
He urged people to remain aware of the nefarious designs of the adversaries who are making desperate attempts to disrupt Jammu and Kashmir's flourishing economy, industries and tourism sectors and of those trying to divide the society on religious lines.
Sinha also commended the significant contribution of Dhunseri Group to India's manufacturing sector.
Spread across an area of around 300 kanals in Dholia Jattan village, the project, targeted to be commissioned in 2026, will be constructed in two phases with a combined installed capacity of 1,28,400 TPA, generating 1000 employment opportunities.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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The National Solar Energy Federation of India (NSEFI) has — in a letter to the Prime Minister’s Office (PMO) — sought a year’s extension of the waiver on inter-state transmission system (ISTS) charges until June 2026 for projects that are to be commissioned within next year.
This is to protect the viability of various renewable energy projects that are at risk due to delays beyond the control of developers.
This waiver aims to promote the transition to renewable energy by lowering generation costs and assisting India in reaching its goal of 500 Gw of non-fossil fuel energy capacity by 2030.
Currently, the charges are waived for a period for solar, wind, and hybrid projects, as well as battery energy and pump storage projects. The Ministry of Power first notified the waiver of ISTS charges for such projects in 2016. This waiver was initially applicable to projects commissioned before a specific date, and has been extended multiple times since then. The latest extension puts the waiver in place until June 30, 2025.
In a letter dated June 3, NSEFI, which represents stakeholders across the solar value chain, stated that while the ISTS waiver announced by the power ministry has been crucial in making renewable power more competitive, its delayed implementation by the Central Electricity Regulatory Commission in February 2023 has left many developers in uncertainty.
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The current ISTS waiver helps renewable energy developers avoid charges ranging from ？0.4 to ？1.8 per unit for transporting electricity from producing states to consumer centres.
According to sources, this amount constitutes a significant portion of the total tariff.
If the ISTS waiver is not extended, there will likely be a substantial increase in tariffs. This will make power generation from renewable sources less competitive compared to other sources like coal.
This situation will also lead to higher procurement costs for electricity distribution companies. Industry players expressed concern that many Letters of Award (LoAs) would not convert into Power Purchase Agreements (PPAs) if the waiver is rescinded in June 2025.
On the other hand, the cost of extending the waiver is minimal compared to the potential benefits. It would enable distribution companies (discoms) to finalise the pending 40 Gw of PPAs, allowing them to save between 60 and 90 paise per unit.
Moreover, the industries would be encouraged to decarbonise and pursue renewable energy projects, aiding the country to achieve its 500 Gw mission.
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