Press Trust of India

JK giving incentives to businesses: Lt Guv Sinha

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Seeks investment from industry

New Delhi: Jammu and Kashmir Lieutenant Governor Manoj Sinha on Tuesday sought investments from the industry players, stating that the Union Territory is providing better incentives and business environment than many other states.

He said that the business environment in the Union Territory is safe and secure.

Sinha said that the industry department of Jammu and Kashmir at present has business proposals worth over Rs 86,000 crore and work is underway to bring them on the ground.

These investment proposals from big and medium industries are there for both Jammu and Kashmir divisions, he said, adding that several FDI (foreign direct investment) proposals are there.

He informed that the UAE-based Emaar Group has announced plans to develop a shopping mall on 10 lakh sq foot of land and an IT tower in Srinagar.

”I request you to come and invest. Huge opportunities are there in different sectors. We are providing better incentives than other states to set up industry,” Sinha said, while awarding engineering sector exporters here.

The incentives include cheap power tariffs, capital investment incentives and interest subvention, he added.

He also said that tourist inflow has increased and it is expected to reach over 2.25 crore this year, as against 1.88 crore last year.

”Jammu and Kashmir is offering you endless possibilities and partnership… If you are looking to capture new segments, then Jammu and Kashmir is the new destination,” he said, adding the number of trains and flights connecting the Union Territory are also increasing.

Sinha further said that the UT administration is taking steps to promote industrialisation.

After independence till 2021, Jammu and Kashmir only attracted investments worth about Rs 14,000 crore in the private sector, he said, adding in 2021, a new industrial scheme was announced with the central government.

At present the Union Territory is giving better incentives for setting up new industries than any other state in the country, he said.

Referring to pollution in the national capital, he said that there is a better environment in Jammu and Kashmir.

Citing data of the Union Home Ministry, the Lieutenant Governor said incidences of crime are also low. ”I want to assure you that… stone pelting and blockades have become a thing of the past,” he said.

On the connectivity front also, several steps have been taken such as a train between Kashmir to Kanykumari.

Work is on fast track for Katra-Delhi greenfield expressway and in the coming 1-1.6 years, it will be completed. It would help to reach Delhi from Katra in 5-5.30 hours.

On the air connectivity front, he informed that from Srinagar, 126 flights are being operated and from Jammu, the number is 44 and it will increase further.

Work for an Inland container depot will also start soon, he said.

Press Trust of India

Press Trust of India is lead news agency of India

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