The State Administrative Council (SAC) met in Srinagar last evening under the chairmanship of Governor N N Vohra and gave a stamp of approval to the J & K Trade and Export Policy, 2018-28.
This policy is aimed at transforming the state's economy into a competitive export-led entity, which will be more responsive to enhanced domestic integration and wider participation in the national and global economy, in tune with the national policies.
It will also create an enabling eco-system to ensure effective participation in the designed framework-based trading system and help in seizing opportunities available in the global liberalized market.
This policy aims to enhance the domestic trade volume by five times in next 10 years, transforming the system from regulator to facilitator and from performer to enabler. It will also provide employment opportunities to educated and skilled youth in export trading of goods and services.
The policy will be valid for a period of 10 years or until a new policy is announced.