Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: New Industrial Policy draws Rs 2200 cr investment in one year, generates 10,000 jobs in JK
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Top Stories > New Industrial Policy draws Rs 2200 cr investment in one year, generates 10,000 jobs in JK
Top Stories

New Industrial Policy draws Rs 2200 cr investment in one year, generates 10,000 jobs in JK

RK News
Last updated: June 11, 2023 12:43 am
RK News
Published: June 11, 2023
Share
8 Min Read
SHARE
Srinagar, June 10: The New Industrial Policy (NIP) 2021 that came into effect in Jammu and Kashmir on April 1, 2022, has started showing its impact on the ground as the Union Territory is fast turning into an investment hub, according to sources.
For the first time since 1947 investments worth about Rs 2200 crore have been made in J-K in one year. The new business units that have become functional in the Financial Year 2022-23 have created employment opportunities for more than 10,000 youth.
According to the figures dished out by the officials under the New Industrial Policy, a total of 5327 investment proposals have been received so far with an anticipated investment of about Rs 66,000 crore to be made in Jammu and Kashmir in the coming years.
In the Financial Year 2023-24, the work commenced on the industrial units that would fetch an investment of over Rs 5500 crore. These enterprises are all set to provide jobs to thousands of youth in the near future.
From 2022 onwards the J-K Industries Department has allotted land to 1854 units of which 854 have paid the premium. In addition, 560 units have signed lease deeds and have taken over the possession of the land allotted for starting work on their units as mandated under NIP.
Pertinently, the New Industrial Policy has a spending outlay of Rs 28,400 crore (Rs 284 billion), the largest incentive to date, on the industrial development of Jammu and Kashmir for the next 15 years. It is expected to generate an investment of Rs 20,000 crore (Rs 200 billion) and employment of 4.5 lakh over the plan period.
This is the first block-level development project that intends to undertake the process of industrialisation at the very grassroots level using the local resources, skills, and talent available within the Union Territory.
The policy was envisaged with a mission to usher in a new era of socio-economic development in the region, catering to the aspirations of the people of Jammu and Kashmir.
The policy since its inception has been prioritizing the aspirations of the entrepreneurs and concerted efforts are being put in to make J-K the most investor-friendly UT.
The new policy is different from the industrial policies that were in vogue till this policy was implemented.
To facilitate the investors the government has taken many steps like providing 167 services of 18 departments on a single window portal. A statement states that new industrial estates have been developed and the existing infrastructure has been improved.
Initiatives like the Business Reform Action Plan, and Ease of Doing Business have led to the compiling of 352 BRAP points. This has reduced 3188 burden compliances.
It may be recalled when the business proposals started pouring into Jammu and Kashmir politicians, who ruled the Himalayan region till 2018 had claimed that all these offers were nothing but a farce confined to papers only. New units becoming functional and employing locals have dispelled their propaganda.
After August 5, 2019–when the Centre announced its decision to scrap J-K’s special status and bifurcate it into two Union Territories–the Himalayan region has become an investment hub.
For the first time in 70 years, J-K has received Foreign Direct Investments as international corporate players like Dubai’s Emaar Group are constructing a mall in Srinagar. Showrooms of national and multinational companies like Trendz, Paras Group and others have already become functional in J-K.
Abrogation of Article 370, a temporary provision in the Constitution, more than three years ago has transformed J-K from a strife-torn region into the most vibrant and happening place in the country.
Peace returning to the Union Territory after three decades of Pakistan-sponsored terrorism has instilled confidence among investors that terrorists can no longer call the shots and that their investments are in safe hands, the statement said.
The statement further said, “J-K youth who till 2019 had no avenues have become torchbearers of ‘Naya Jammu and Kashmir.’ They are leading from the front by getting associated with new ventures and ideas. They have realized that Pakistan used them as cannon fodder for fighting its own proxy war. They have understood that besides the neighbouring country, separatists like late Hurriyat hawk Syed Ali Shah Geelani, so-called JKLF chairman Yasin Malik and others left no opportunity to turn Kashmiri youth into stone-pelters and terrorists.”
Politicians, who ruled J-K after 1990, sailed in two boats. They couldn’t muster the courage, to tell the truth to people that “Azadi” and Pakistan were illusions and the violence won’t take them anywhere, the statement said.
By terming Kashmir as an “issue” they allowed the terrorists, separatists and their handlers to push the youth towards destruction and death.
The people of J&K paid a heavy price for the failure of politicians to work towards J-K’s complete integration with India. They didn’t put any effort into getting investors into J-K, nor did they make any attempt to tell the people that their future is secure with India.
Fake narratives and hollow slogans created confusion and chaos. Unemployed youth were lured by the Pakistani agents to pelt stone, enforce shutdowns and join terror outfits.
On August 5, 2019, Prime Minister Modi and Union Home Minister Amit Shah promised the people of J-K that their lives would change for good, and both leaders have kept their promise.
As of date, J-K is packed with tourists, and investors and the economy is booming. Youngsters are getting job offers from the corporate world as investors are keen to set up their units in J&K. They are aware that local youth can greatly help them establish their foothold in the new market, the statement added.
Political regimes in the erstwhile J-K state had adopted industrial policies from time to time (i.e. 1995, 1998 & 2004) the latest being Industrial Policy, 2016. To support the old industrial policies, the Centre sanctioned packages of incentives but the industrial sector in Kashmir failed to compete with other parts of the country, the release stated.
In the absence of industries, youngsters had nothing to fall back upon as there were no jobs in the private sector. However, in ‘Naya Jammu and Kashmir’ youth are writing a new chapter of prosperity and development. They have endorsed the vision of PM Modi and have rejected the agenda of hate and violence propagated by Pakistan and its stooges, the statement added. (ANI)
 
 
 
Srinagar rejoices: Muharram-08 procession back after decades, says LG
LG flags off IAF ‘Vayu Veer Vijeta’ car rally to inspire youth
LG greets people on Gandhi Jayanti
PHE urges consumers to pay  water bills by Mar 31 
G2O meet brings new hope for jobs and investment among people in Kashmir

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article DC Jammu reviews arrangements for SANJY ’23
Next Article BJP fulfilled promises on Ram Mandir, Art 370: Rajnath Singh
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
Kashmir
May 29, 2025
SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
Kashmir
May 29, 2025
DC calls for intensified action against drug abuse at NCORD review in Gbl
Kashmir
May 29, 2025
Shikara operators continue to ignore mandatory safety protocols
City
May 29, 2025

Recent Posts

  • Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
  • SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
  • DC calls for intensified action against drug abuse at NCORD review in Gbl
  • Shikara operators continue to ignore mandatory safety protocols
  • IUST partners with government for building safer J&K

Recent Comments

  1. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral
  2. sree vishnu movies on Pahalgam attack shatters Kashmir’s film tourism revival
  3. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  4. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  5. dr gora on Women Veterinarians and the Goal of Viksit Bharat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?