Over 94,000 direct, indirect, PMEGP employment generated
169 units with Rs 7096 cr investment to start production shortly
Mohinder Verma
JAMMU, Nov 2: In a significant development, the Union Territory of Jammu & Kashmir has witnessed highest ever industrial investments during 2022-23 financial year and six months of current financial year (2023-24) thereby generating noteworthy employment.
As per the official document of the Industries and Commerce Department, J&K has realized investments worth Rs 2153.45 crore during financial year 2022-23, which is the highest compared to any financial year over the last decade. Similarly, J&K has realized investments worth Rs 1752.1 crore in six months of the current financial year (2023-24), which is again highest ever.
Moreover, direct employment for 11,091 persons, indirect employment including subcontracting on same project site for 5582 persons was also generated. Moreover, employment generation under Prime Minister’s Employment Generation Programme (PMEGP) was 77,743.
“Additionally, 169 units with investment worth Rs 7096 and employment of 21,076 have initiated ground work and will commence production shortly”, the document said, adding “6231 proposals with investment of Rs 87,923 crore have been received and this will generate employment of 3,92,162”. Moreover, premium has been received for 1072 units with envisaged investment of Rs 14940 crore and employment of 72,874.
As per the document, there is highest ever package by Central Government through New Central Sector Scheme with financial outlay of Rs 28,000 crore for encouraging new investments in J&K with return of investment in India up to 400%. After introduction of new Industrial Policy, the average investment per kanal is Rs 2.24 crore (based on land premium received), which was merely Rs 0.24 crore per kanal.
Under PMEGP, 89,063 cases were sanctioned with Rs 1,150 crore margin money providing employment to more than 7,12,504 people since 2019.
The Change in Land Use introduced to diversify industrial base by facilitating the establishment of various types of industries has helped in reducing dependency on Government estates. Due to this initiative, 3,722 kanals of land is being developed by private industry, the document said, adding “46 new Industrial Estates with area of 17,012 kanals are being developed taking total to 110 estates”.
To fast track the development of Industrial Estates, the Central Public Sector Undertakings (CPSUs) NBCC and IRCON have been engaged and development for 6 new Industrial Estates will be executed by CPWD. Moreover, Floor Area Ration (FAR) has been increased from 0.61 to 1.5 with no additional charge to encourage vertical expansion.
“Land is being acquired to facilitate grounding of proposals. So far indents have been placed for 20,794 kanals and additionally 6021 kanals of land has been identified and indents will be placed shortly. Moreover, 4400 kanals of land is expected under private industrial estates”, the Industries and Commerce Department said.
It is pertinent to mention here that J&K Industrial Policy 2021, J&K Industrial Land Allotment Policy 2021, J&K Private Industrial Policy 2021, &K Ayush Policy 2020, J&K Health Investment Policy 2019, J&K FDI Policy 2022, J&K Film Policy 2021, J&K IT & ITeS Policy 2020, J&K Poultry Policy 2020, J&K Tourism Policy 2020, J&K Township & Housing Policy 2020 and J&K Wool Processing, Handloom and Handicraft Policy 2020 are aimed at attracting investments in J&K. Moreover, New Start-up Policy 2023 and J&K Logistic Policy and New Export Policy 2023 are also under draft.
About Ease of Doing Business, the document said that Jammu and Kashmir was the first Union Territory to integrate with the National Single Window System and has adopted various other portals, including e-Abgari (for excise), RAS, NGDRS, Service Plus, ONDLS, and e-Sarthi portal.
“This ensures that citizens have a right to receive services within a stipulated time frame, and if there is any delay or denial, they are entitled to a compensation amount as per the provisions of the J&K Public Service Guarantee Act”, the document said, adding “to avoid unnecessary approvals and reduced compliance burden 3188 compliances have been reduced with 2009 in business category and 1179 under citizen category”. Moreover, all Govt to Business (G2B) services available on J&K Single Window System can be applied through Common Application Form (CAF).
Commenting on the achievements, Chief Secretary Dr Arun Kumar Mehta said, “Industrial Development in J&K is one of the foremost priorities of the Government and is expected to create significant employment during next five years”.
“UT of Jammu and Kashmir is focused on achieving sustained industrial development and economic growth and Government is firm in its resolve to support the entrepreneurs who have interest in investing in the UT of J&K and contributing to its development”, he further said.
Commissioner Secretary to Government, Industries and Commerce Department Vikramjit Singh said, “the highest ever investment is a testament to our relentless commitment to fostering a robust and thriving industrial landscape in J&K UT”.
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