Jammu and Kashmir Realises Rs 2079.76 Crore Investment till October this Year

SRINAGAR: Jammu and Kashmir has successfully realised investments amounting to Rs. 2079.76 Crore in the first seven months of the current fiscal year, according to the official data.

As per the data accessed by the news agency KNO, the total investment in the industrial sector of Jammu and Kashmir has gone up to Rs 5319.35 crore since 2019.

Data reveals that in the year 2019-2020 when the centre abrogated Article 370, Jammu and Kashmir witnessed an investment of Rs 296.64 crore in the industrial sector.

The investment in the industrial sector has hiked by more than 86 percent in less than five years, data reveals.

In the year 2020-2021, Jammu and Kashmir has realised an investment of Rs 412.74 crore in the industrial sector.

In 2021-22, an investment of Rs 376.76 crore was recorded in the industrial sector of Jammu and Kashmir.

An investment of Rs 2153.00 crore was realised in the industrial sector in the year 2022-23.

As per a document, investment proposals worth Rs 88,915 crore have been received by the Jammu and Kashmir government, which has the potential to generate employment for more than 3.98 lakh skilled youth.

Pertinently, the Government of India notified a New Central Sector Scheme for Industrial Development of the Union Territory of Jammu & Kashmir on 19.02.2021 with an outlay of Rs. 28,400 Cr to boost industrial development.

In addition, J&K Industrial Policy 2021-30, J&K Industrial Land Allotment Policy 2021-30, J&K Private Industrial Estate Development Policy 2021-30, J&K Wool Processing, Handicrafts and Handloom Policy 2020 have also been notified.

“Various initiatives have been taken by the Government of Jammu and Kashmir for making the UT an investor-friendly destination,” the document said.

The Industries and Commerce Department, in its recently released compendium, revealed that investments have come for the establishment of 2540 units in Jammu and Kashmir in the first six months of the current fiscal. Of which 2329 units have to be set up under the Prime Minister’s Employment Guarantee Programme (PMEGP).

Regarding investments, Lieutenant Governor Manoj Sinha last month appealed to captains of industry on Tuesday to invest in J&K.

He said that J&K offered investors endless possibilities and a partnership in strong profitable growth.

The post Jammu and Kashmir Realises Rs 2079.76 Crore Investment till October this Year appeared first on Kashmir Life.

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