ELARA India Dialogue 2021: Rs 28,400 cr IDS is unlocking investment flow to J&K

Speaking on the occasion, the Lt Governor shared J&K’s journey of economic growth and development from the past two years.

This is the new Jammu &Kashmir determined to reverse the trend of the past seven decades by pushing the targets for economic growth and employment. Our aim is very clear- deepen the trust with business conglomerate, build the industrial base for the economy and strengthen the social stability, said the Lt Governor.

“The industrial holiday of the Union Territory is over and we are open for business. I invite the investors from across the globe to invest in Jammu Kashmir and be a  partner in the UT’s rapid economic growth”, said the Lt Governor.

While the country under the able leadership of Prime Minister Narendra Modi is on a  mission to renovate, reinvent and take a quantum leap from the fastest-growing economy to a superpower, Jammu & Kashmir is also set out on the journey towards growth and prosperity, observed the Lt Governor.

The new industrial scheme, offering a host of attractive industrial incentives, a  supportive framework of 'Ease of Doing Business', coupled with the Land Bank of 12,000 acres, private industrial estate development & a strong MSME ecosystem, is unlocking the investment flow and welcoming the potential investors to look at  J&K as a great business opportunity, added the Lt Governor.

We are striving to create a vibrant industrial ecosystem and transform Jammu and Kashmir into an industrialized territory.

Within two months, we have received investment proposals worth Rs 25,000 Crore for both Jammu and Kashmir divisions and we are hoping to get the proposals of approximately Rs 50,000 Crore by March 2022, the Lt Governor said.

Moreover, Jammu & Kashmir has the lowest crime rate and lowest power utility rates. The security situation has significantly improved. In July, 10.50 lakh tourists visited UT while the number has gone up to 11.20 lakh last month, clearly indicating a conducive environment for the businesses to flourish, said the Lt  Governor.