Jammu, Feb. 13 -- The Jammu and Kashmir Government will amend its Industrial Policy to recalibrate incentives, revive sick units and prevent closures, Deputy Chief Minister Surinder Kumar Choudhary announced in the Assembly on Thursday, outlining a broad push to sustain industrial growth, generate local employment and strengthen the MSME sector.

Winding up the discussion on grants of his departments in the Assembly, Choudhary said new enterprises will be issued a single in-principle approval certificate with a three-year grace period for obtaining statutory clearances to facilitate early commencement of operations, reduce compliance burden and encourage formalisation of small businesses.

He said that sick MSMEs will be extended incentiv...