5327 Applications, Investment Proposals Received So Far In JK: MHA

SRINAGAR: 5327 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 Government of J&K, a total of 5327 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 crores in December 2022 has now touched Rs. 66,000 crore.”

Out of 5327 proposals received, he said, land has been allotted in respect of 1854 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, as per the news agency GNS, 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 J&K Industrial Policy, 2021, an investment worth Rs. 1924.64 crores (Rs. 376.76 crore in 2021-22 and Rs. 1547.88 crores in 2022-23 (up to January 2023) have come on the ground, he said. “The investment during the current financial year is the highest ever compared to any other previous financial years.”

The Government 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 government has allowed the Business Reform Action Plan- Ease of Doing Business (BRAP-EoDB) to boost industrial growth.

He said Government is strategically working on the 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 the development of new Industrial Estates and improvement of infrastructure. “Investor Facilitation Cell is in place for necessary facilitation/ awareness, intending to connect the industries with global markets and further inviting investors to promote J&K as an ideal investment destination.” (GNS)

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