Jammu & Kashmir

JK has best industrial policy, huge investment opportunities: LG Manoj Sinha

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Lieutenant Governor JK Manoj Sinha. [File Photo]

Kolkata: Lieutenant Governor, Manoj Sinha on Tuesday said that Jammu and Kashmir is all set out on a growth path with high hopes and expectations.

The comments were made during interactions with the industrialists at Kolkata, during which Sinha invited them to invest in Jammu Kashmir.

“This is the dawn of a new era for the growth; development and overall well-being of the people of JK. Barriers to commerce and trade have also been removed. The people of JK can now fully enjoy the rights and benefits enjoyed by all other citizens of India rather than just a limited set of rights and benefits, ” he added.

“A strong grassroot democracy has been set up with genuine participation of people at the lowest rungs of governance in Panchayats and Urban Local Bodies,” he stated.

The event was organized by Jammu and Kashmir Trade Promotion Organisation (JKTPO), Department of Industries and Commerce, JK in association with the Confederation of Indian Industry (CII) included Industrialist/Investors from Eastern India.

The Lt Governor announced the enhancement of the Industrial Development scheme outlay to meet the exceeded expectation of Investments in Jammu Kashmir, the spokesperson said in a statement.

‘The proposed investment has already reached Rs 31,000 Cr and is expected to cross Rs 51,000 Cr by the end of the financial year. Given the response received, the administration is enhancing the scheme outlay to meet the demand’, the Lt Governor observed.

He announced that the administration is coming up with the rules governing change of land use shortly to facilitate the setting up of business enterprises on private land.

‘This will ensure the seamless establishment of business enterprises on private lands. Business enterprises coming up on private land shall be entitled to all the incentives as per extant policy and procedure’, the Lt Governor added.

He said that JK is on a mission to renovate, reinvent, and ready to take a quantum leap to become the fastest-growing region in the country, pushing the targets for economic growth and employment.

Our aim is to deepen the trust with the business conglomerate, build the industrial base and strengthen the socio-economic stability, observed the Lt Governor.

Elaborating on the efforts being made by the UT Government to encourage new investment, and to nurture the existing industries, the Lt Governor said that JK is one of the best destinations in the country for setting up new businesses as of now with the best incentives and improving infrastructure facilities.

“We are fulfilling all the crucial requirements of the industries including the transparent policy of land allotment, private industrial estate development, ensuring ease of doing business, besides the administration has actively worked with solutions approach and introduced around 160 new initiatives and reforms in a short period of time,” the Governor said.

 

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