1767 offers amounting to Rs 24,729 cr approved
88 units in Jammu, 42 in Kashmir start operations
Sanjeev Pargal
JAMMU, July 24: In a major boost to industrial development in Jammu and Kashmir, the Union Territory Administration has received 5,973 proposals amounting to Rs 80,122 crore from industrial houses based in India and abroad.
So far, the UT Government has approved 1,767 proposals of industrial units for making investments worth Rs 24,729 crore.
Official sources told the Excelsior that 5,973 proposals to the tune of Rs 80,122 crore received by the Jammu and Kashmir administration for private industrial investments are solid backed by prescribed fee.
These proposals include both within India and abroad, they said, adding many big industrial houses have also applied for investments in Jammu and Kashmir.
“While 1,767 proposals to the tune of Rs 24,729 crore have been approved by the UT administration, 130 industrial units have started working on ground including 88 in Jammu division and 42 in Kashmir,” the sources said.
They added that as many as 19 Industrial Estates are being developed.
The industrial investments are expected to bring five lakh jobs for the youth, the sources said.
They pointed out that Dubai’s Emaar Group will develop 10 lakh square feet Mall at the cost of Rs 500 crore in Srinagar while another foreign investment worth Rs 3000 crore will be realised soon.
There has been massive response to Jammu and Kashmir Industrial Policy announced by the Central Government in 2021 with industry leaders from various States of the country as well as abroad visiting here and announcing investments.
“And there has been no let up in the response,” as per the sources. They said it has become continuous process and many industrial units are still submitting proposals for investments in Jammu and Kashmir.
Going by the response, they added, the industrial investments will further go up.
Apart from industrial development, the sources said, the UT has been registering new StartUp every second day.
“During last four years, 7.7 lakh new entrepreneurs have been registered which means 527 youth started entrepreneurial journey every day with small, micro and medium enterprises,” the sources said.
Only last week, Union Home Minister Amit Shah and the Commerce Minister had reviewed progress of industrial development in Jammu and Kashmir with Lieutenant Governor Manoj Sinha and top officers of civil administration in New Delhi.
Some proposals for development of private Industrial Estates have also been received while many more are in the pipeline. Response to develop ‘Private Land Banks’ for industrial development has been very encouraging in the UT, the sources said.
The Government has fixed guidelines for development of private Industrial Estates in Jammu and Kashmir under which they will be entitled to Capital Infrastructure Subsidy depending on the investments.
“The developers of ‘Private Land Banks’ will be entitled to incentives as per the Jammu and Kashmir Private Land Development Policy while the industrial houses investing there will get the benefits under the Industrial Development Scheme,” the sources said, adding all districts are eligible for developing ‘Private Land Banks’.
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