J&K emerging as top investment destination across Country: Officials

Srinagar, Oct 23: The investment projects worth Rs 10,000 crore are under execution in Jammu and Kashmir and proposals of around Rs 60,000 crore are being processed which reflects the successful campaign of J&K Government to attract investors to Jammu and Kashmir, official spokesperson said on Sunday.
The spokesperson said that in Naya J&K, the investment ecosystem has changed a lot after abrogation of Article 370 and thousands of budding entrepreneurs are setting up their own units and are emerging as role models.
The official said that the days of struggle for entrepreneurs are over and youngsters who desire to establish their own ventures are handholded by the Government through various schemes and provided all possible assistance to chase their dreams.
“New industrial estates are coming up and during the past two years, more than 3,300 applications have been approved with Letter of Intent issued in favour of 1,879 applicants besides lease deeds have been executed in favour of 260 applicants. In 111 industrial estates, 9,869 kanals of land has so far been allotted to prospective unit holders. These unit holders have in turn deposited a sum of Rs 217 crore into the government exchequer as their lease dues,” said the spokesperson.
The official informed that since Independence, Jammu and Kashmir had received private investments to the tune of Rs 14,000 crore only. “However, after the introduction of the new Industrial Development Scheme and personal interest taken by Union Home Minister, Amit Shah, the UT has received investment proposals worth Rs 56,000 crore in just about one year’s time,” the spokesperson said.
The official said that there is a huge rush of investments in Jammu and Kashmir by the private players from the country as well as abroad. Several builders have also shown keen interest in investments here during a Real Estate Summit.
Jammu and Kashmir is set to become the top investment destination in the country as it races up to various infrastructure projects and is reaching out to foreign and domestic investors through several forums and industrial summits. The UT administration is bridging three decades of lack of development. Jammu and Kashmir has never been explored the way it should have been for the larger good of people and the changes are now visible on the ground with the dedication and commitment of the present LG led Administration.
“J&K Government has also received dozens of proposals for establishing health care projects in the two medi-cities of J&K. These include Dubai based businesses like EMAAR Group, Noon.com, Al Maya Group, GL Employment, MATU Investments and others,” the spokesperson said.
Jammu and Kashmir has a huge potential to emerge as a powerhouse of prosperity with the progressive industrial policy which has brought investment of almost 4 times in just three years than what was received in the last 72 years. The golden period of industrial development of Jammu and Kashmir has been ushered in through the new Industrial Development Policy of the Prime Minister.
The progressive industrial policy of J&K made under the guidance of Prime Minister Narendra Modi holds the immense potential and opportunities in different sectors to start industrial and business ventures that would also create job opportunities for the youth.
In the last three years the Government has established a business-friendly climate for investors and J&K has emerged as one of the favourite destinations to set up industries and other business ventures. The aspirations of J&K youth have been synchronised with the aspirations of the country today and the golden period of industrial development of J&K has been ushered in through the new industrial development policy of the Prime Minister.
Due to seriousness of Government, an overwhelming response was received for investments under recently announced new Industrial Policy which will create lakhs of employment opportunities for the youth.