Srinagar, Nov 07: In an effort to foster and enhance the developmental works in J&K UT, the Jammu and Kashmir administration aims to establish 45 new industrial estates, including five private industrial zones, with the expectation of attracting investments worth Rs30,000 crores. The move is expected to boost the industrial sector in the region.
As outlined in a recently released vision document by the Planning Development and Monitoring Department, the plan envisions the establishment of 40 new industrial estates and five private industrial areas by 2027.
The document states, "An investment of 30,000 crores will be secured to invigorate the industrial sector, generating an additional Rs1.90 lakh employment opportunities, and offering a land bank spanning 8000 Kanals for the establishment of industries."
Furthermore, the vision document proposes the creation of three Special Economic Zones, three Handicraft & Handloom Clusters dedicated to specific crafts with export potential, and the establishment of three Model Craft Towns and Villages, which will focus on crafts indigenous to the region.
Additionally, it suggests the creation of two Raw Material Banks and the establishment of two Quality Testing and Certification labs for exports.
"Looking ahead to the period from 2032 to 2037, the document suggests an additional boost to the industrial output through the development of 10 new industrial estates and 4 private industrial areas/estates," it said.
The plan involves an additional investment of Rs16,000 crores to stimulate the industrial sector, potentially creating around 1.15 lakh employment opportunities.
Furthermore, the UT administration will augment the land bank by adding an additional 2000 Kanals of land for private players looking to establish industries.
Vikramjit Singh, Commissioner/Secretary to the Government, Industries & Commerce Department, expressed his enthusiasm for the comprehensive vision document, highlighting the vast industrial potential in the region.
“This comprehensive compendium stands as a testament to our relentless commitment to fostering a robust and thriving industrial landscape in our region. I believe this resource will not only serve as a guiding light for aspiring entrepreneurs and investors but will also underscore our steadfast dedication," he said.