Rs 66K-crore business proposals in 1 year in J&K
Srinagar, February 15
The J&K administration on Wednesday said the Union Territory had been witnessing major developments in the industrial sector as private investment proposals worth Rs 66,000 crore had been received within one year. Besides, 1,455 industrial units have started their operations.
“These remarkable developments have opened the doors of immense possibilities for the new generation as promised by Lieutenant Governor’s administration. The existing industrial landscape is being transformed into a futuristic, profitable and sustainable ecosystem, leading to livelihood generation, better education, skill development and a better quality of life,” a government spokesperson said.
From job creation to entrepreneurship, the administration is going to make J&K a model of Industry 4.0, the Fourth Industrial Revolution, he said. “The government is working tirelessly on promoting institutional readiness, increasing entrepreneurship and attracting investments. The multiplier effect of industrial transformation will be felt across the entire length and breadth of the UT,” he said.
According to the administration, the new Industrial Development Scheme, with an outlay of Rs 28,400 crore, has been approved by the Central Government for encouraging investment in manufacturing and service sectors in J&K, which has started helping in stepping up the economic development in the UT.
“This is the dawn of a new era for J&K’s development. The people of J&K 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,” the spokesperson added.
