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Homechevron_rightBusinesschevron_rightJ&K gets Rs 23,000cr...

J&K gets Rs 23,000cr investment proposals on new industrial policy

J&K gets Rs 23,000cr investment proposals on new industrial policy

New Delhi: Investments proposal to the tune of Rs 23,000 crore for various projects have reportedly coming to Jammu and Kashmir four months after the administration issued a notification, New Industrial Policy, allowing outside investment in the valley.

The Indian Express reports said that the land allotments to four corporate for various projects are progressing. Of Rs 23,000 crore, Rs 11,000 crore of the new investments will be allotted to Kashmir, while the Jammu regions will get Rs 12,000 crore investments.

The IE report quoting a source from the J&K administration said that Jindal Steel Works has been allotted land to set up a profile sheet making unit in Lassipura Industrial Estate in Pulwama.

Besides investments from the telecom, cyber optics, and hosiery sectors, the valley is also expecting investments from Japan and Dubai, the report said.

The new industrial policy notification has created a special interest in corporates because of which they have already paid up money for lands without MoUs, The IE quoted Ranjan Thakur, Principal Secretary, Industry and Commerce, Jammu and Kashmir as saying.

Thakur said that the investment requests are being processed online and the administration is expecting the investments to reach Rs 30,000-35,000 crore by the end of the calendar year and Rs 50,000 crore by the end of this financial year.

The administration has already allotted about 3000 hectares of land from the government's 6000 hectares of land bank in Jammu, Kathua, and Samba districts in the Jammu region, and in Srinagar, Budgam, Pulwama, and Shopian for various projects and as more investments proposal comes in the administration will also consider land acquisitions in order to facilitate lands, the official said.

While the proposed investments in the Jammu region go now to food processing, beverages, and profile sheet industries, apart from some pharmaceutical companies, Kashmir will see investments coming in sectors such as healthcare, wellness centres, tourism, apple and food processing, meat processing, BPOs, printed circuit boards, and educational institutions.

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TAGS:J&K Industrial Policy Investments Union Teritories 
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