Boosting J&K’s economy: LG Sinha leads strategic meet on industrial investments 
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Boosting J&K’s economy: LG Sinha leads strategic meet on industrial investments 

Urges private investment in J&K’s industrial sector Highlights GI Tagging in J&K’s handicraft sector" 2023 to be year of agro-industrial revolution powered by HADP 

Post by RK News on Thursday, July 20, 2023

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Srinagar, July 19: In a proactive effort to revitalize the industrial landscape and attract investments in Jammu and Kashmir, Lieutenant Governor Manoj Sinha spearheaded a high-level meeting with senior officials. The primary objective of the meeting was to assess the current status of industrial investments and strategize rapid measures to stimulate economic growth in the region.
Others present in the meeting included Dr Arun Kumar Mehta, Chief Secretary; Shaleen Kabra, Financial Commissioner Revenue; Dheeraj Gupta, Principal Secretary of the Forest Department; Santosh Dattatreya Vaidya, Principal Secretary of the Finance Department; H. Rajesh Prasad, Principal Secretary of the Power Development Department; Dr. Mandeep Kumar Bhandari, Principal Secretary to the Lieutenant Governor; Vikramjit Singh, Commissioner/Secretary of the Industries and Commerce Department, along with other distinguished senior officers.
During the comprehensive meeting, the Lieutenant Governor received detailed insights into investments across diverse sectors, the current status of land allotment, and the establishment of new industrial estates. The officials also highlighted recent expedited actions taken to fast-track ongoing investment projects. Pertinent discussions also encompassed crucial policy initiatives to bolster technology-based and scalable startups, and commendable accomplishments in export sectors such as carpets, papier mache, shawls, and chain stitch.
In light of fostering progressive growth, Lt. Governor Manoj Sinha underscored the significance of proactive measures to promote private industrial estates equipped with state-of-the-art infrastructure. Furthermore, he emphasized the pivotal role of women-led enterprises in shaping the future of Jammu and Kashmir's economy. He urged officials to facilitate greater participation of women entrepreneurs in the economic sphere by designating more exclusive industrial estates, taking inspiration from the successful model established in Udhampur.
Anticipating transformative developments, Lt. Governor Sinha declared that the year 2023 shall be celebrated as the year of the Agro-Industrial revolution, propelled by the Holistic Agriculture Development Plan (HADP). He highlighted the immense potential this plan held for agro-industries, encouraging increased production in the agriculture and allied sectors.
With a view to drive economic prosperity to rural regions, the Lt. Governor directed officials to explore untapped potential in new cold storage facilities and cold chains. He emphatically emphasized the necessity of equitable economic growth for the rural areas of the Union Territory (UT).
To augment the region's infrastructure, Lt. Governor Sinha urged officials to actively encourage greater private investments in inland ports, container depots, and food processing units. Additionally, he mandated the establishment of a structured mechanism for regular meetings with representatives from existing industrial estates to effectively address and resolve their concerns.
In light of the transformative impact of Geographical Indication (GI) Tagging on the handicraft sector and export potential, Lt. Governor Sinha stressed the imperative of ensuring the authenticity of products like Pashmina for global trade.
In a bid to bolster growth in new industrial estates, Lt. Governor Sinha directed concerned officials to expedite the development of essential amenities such as connectivity, power, and water facilities.
Later, Lt. Governor Sinha urged the adoption of successful industrial estate models from other parts of the country. He reiterated the collective commitment of all stakeholders to expedite industrial investments, paving the way for robust economic growth and development in Jammu and Kashmir.
 
 

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