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J-K emerging as top investment destination across India
Srinagar: Investment projects worth Rs 10,000 crore are under execution in Jammu and Kashmir and proposals of around Rs 60,000 crore are being processed which reflects the successful campaign of the J-K government to attract investors to Jammu and Kashmir, as per an official statement from Department of Information and Public Relations, J-K.
According to the official release, in Naya J&K, the investment ecosystem has changed a lot after the abrogation of Article 370 and thousands of budding entrepreneurs are setting up their own units and are emerging as role models. The days of struggle for entrepreneurs are over and youngsters who desire to establish their own ventures are handheld by government through various schemes and provided all possible assistance to chase their dreams, read the statement.
New industrial estates are coming up and during the past two years, more than 3,300 applications have been approved with Letters of Intent issued in favour of 1,879 applicants besides lease deeds have been executed in favour of 260 applicants. In 111 industrial estates, 9,869 kanals of land have been allotted to prospective unit holders. These unit holders have in turn deposited a sum of Rs 217 crore into the government exchequer as their lease dues, stated the release.
Since independence, Jammu and Kashmir had received private investments to the tune of Rs 14,000 crore only. However, after introducing the new Industrial Development Scheme and personal interest taken by Union Home Minister Amit Shah, the UT has received investment proposals worth Rs 56,000 crore in just about one year.
There is a huge rush of investments in Jammu and Kashmir by private players from the country as well as abroad. Several builders have also shown keen interest in investments here during a Real Estate Summit, as per the statement.
According to the official release, Jammu and Kashmir are set to become the top investment destination in the country as it races up to various infrastructure projects and is reaching out to foreign and domestic investors through several forums and industrial summits.
The UT administration is bridging three decades of lack of development. Jammu and Kashmir has never been explored the way they should have been for the larger good of people. The changes are now visible on the ground with the dedication and commitment of the present LG-led administration, read the statement.
J&K government has also received dozens of proposals for establishing healthcare projects in the two media cities of J&K. These include Dubai-based businesses like EMAAR Group, Noon.com, Al Maya Group, GL Employment, MATU Investments and others.
Jammu and Kashmir has huge potential to emerge as a powerhouse of prosperity with the progressive industrial policy which has brought investment almost 4 times in just three years than what was received in the last 72 years. The golden period of industrial development of Jammu and Kashmir has been ushered in through the new Industrial Development Policy of the Prime Minister.
The progressive industrial policy of J-K made under the guidance of Prime Minister Narendra Modi holds immense potential and opportunities in different sectors to start industrial and business ventures that would also create job opportunities for the youth.
The official statment stated that in the last three years, the government has established a business-friendly climate for investors and J-K has emerged as one of the favourite destinations to set up industries and other business ventures. The aspirations of J-K youth have been synchronised with the aspirations of the country today and the golden period of industrial development of J-K has been ushered in through the new industrial development policy of the Prime Minister.
Due to the seriousness of the government, an overwhelming response was received for investments under the recently announced new Industrial Policy which will create lakhs of employment opportunities for the youth. (ANI)