Jammu & Kashmir

5,327 investment proposals received so far in JK, land allotted to 1,854 units: MHA

An aerial view of Srinagar city. [File Photo]

Srinagar: 5,327 applications and investment proposals have been received so far in Jammu and Kashmir, Minister of State for Home Affairs, Nityanand Rai said on Thursday.

In a written reply to a question in the Rajya Sabha, Rai said that as per the information provided by the administration of JK, a total of 5,327 applications/investment proposals have been received so far since the announcement of the New Industrial Policy 2021. “The anticipated investment which was worth Rs 64,058 crore in December 2022 has now touched Rs 66,000 crore.”

Out of 5,327 proposals received, he said, land has been allotted in respect of 1,854 units and 854 have paid the premium. “560 units have signed the Lease deed and have taken over the possession of the land allotted,” he said in the reply, adding, “129 units have started work on the ground.”

In addition, he said, 350 existing units have also come into production after the announcement of the New Industrial Policy, 2021.

After the introduction of JK Industrial Policy, 2021, an investment worth Rs 1,924.64 crore (Rs 376.76 crore in 2021-22 and Rs 1,547.88 crore in 2022-23 (up to January, 2023) has come on ground, he said. “The investment during the current financial year is the highest ever compared to any other previous financial years.”

The administration of Jammu and Kashmir, he said, has taken several steps such as Business Reforms Action Plan – Ease of Doing Business, development of new industrial estates, development of basic infrastructure including roads, power, water, drainage, sewerage treatment and handholding of investors to encourage investments and to create employment opportunities for the youth coupled with income generation.

Among other steps, he said, the administration has allowed the Business Reform Action Plan- Ease of Doing Business (BRAP-EoDB) to boost industrial growth.

He said the administration is strategically working on Implementation of BRAP. “352 BRAP points have complied and 3188 burden compliances have been reduced under BRAP,” he said, adding, “167 services of 18 departments have been provided on single window portal. The BRAP score of J&K has improved from 0.30% to 79.67%.”

Also, he said, Single Window Clearance System has been started to provide seamless services to prospective investors. He said all the Government to Business services have been brought on Single Window System for the convenience of both the Government departments and the investors.

He said that there has been development of new Industrial Estates and improvement of infrastructure. “Investor Facilitation Cell is in place for necessary facilitation/ awareness, with the aim to connect the industries with global markets and further inviting investors to promote JK as an ideal investment destination.”

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