India announces pro-business measures for Kashmir
The Indian government has announced a raft of measures to help industries in the troubled state of Kashmir. The leather industry is one of those pinpointed for expansion along with food, silk, herbs, pesticides and floriculture.
The measures include exemption from central taxes, aid for new businesses, special-rate loans and a 15% subsidy on new investment in plant and machinery. A new insurance scheme is also to be introduced with central government paying the premiums for 10 years.
Businesses in Kashmir have often complained over the years of neglect by central government, but the measures are seen by some timed to coincide with provincial elections due to take place in the state in September/October.