Srinagar (Jammu and Kashmir) [India], July 7 : In a milestone achievement, Jammu and Kashmir has received investments worth about rupees 2,200 crores and generated more than 10,000 jobs in one year under its New Industrial Policy (NIP) 2021.
The data says that from 2022 onwards, the J-K industries department has allotted land to 1,854 units of which 854 have paid the premium. Out of the total number of units allotted with land, 560 have already started paying their premium.
As per the data revealed by the New Industrial Policy officials, a total of 5,327 investment proposals have been received for J-K. The investment amount of all these proposals stands at Rs 66,000 crore. The last time when the region received such a massive investment was in 1947.
The NIP has a spending outlay of Rs 28,400 crore, the largest incentive to date, on the industrial development of Jammu and Kashmir for the next 15 years. The incentive is expected to generate an investment of Rs 20,000 crore and generate 4.5 lakhs of employment over the planned period.
The G-20 summit has served as an eye-opener for anyone that regards Jammu and Kashmir as merely a troubled region. The political and security lens through which J-K has been viewed has undergone a transformation as well, reported Greater Kashmir.
As India underwent its G20 presidency, the participation of delegates from numerous countries marked a historic moment for Kashmir. Hope permeates the air, as people anticipate the positive impact this will have on tourism and trade in the region.
Since the abrogation of Article 370 in August 2019, the Union government has made significant efforts to foster a conducive environment for the growth of industries in Kashmir. Various initiatives have been undertaken.
The J-K Global Investors' Summit, where agreements worth rupees 13,732 crore were signed. There has been a surge in private investments, reaching rupees 38,000 crores.
The implementation of numerous projects covering infrastructure, healthcare, education, tourism, agriculture, and skill development.
In March this year, the makers of Dubai's iconic Burj Khalifa initiated a groundbreaking ceremony for a shopping mall and multipurpose tower on the outskirts of Srinagar, constituting the first Foreign Direct Investment in the UT.
Remarkable milestones continue to shape the region's destiny, like ongoing investment projects worth Rs. 10,000 crore and proposals worth Rs. 50,000 crore, which promise to drive economic growth.
The road transport and highways ministry, led by Nitin Gadkari, has undertaken developmental works worth rupees 1.3 lakh crore. Over the years, 500 kilometres of roads have been completed, with plans for a 110-kilometre Amarnath Marg to the holy cave shrine at a cost of Rs 5,300 crore.
Panchayat and block development council elections have witnessed remarkable participation, demonstrating the growing democratic fervour in the region.
With the establishment of over 134,000 houses under the PM Awas Yojana (Gramin) and the approval of two AIIMS hospitals, one in Jammu and another in the Kashmir Valley, a new chapter of industrial development has been ushered in.
This ambitious plan is projected to create 450,000 direct and indirect jobs, elevating the primary sector's role in the region's growth.
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