SRINAGAR: The Government of India announced on Monday that the JK government has received investment proposals worth Rs 90,182 crore, with investments worth Rs 5,319 crore grounded in the Union Territory since 2019-20.
These details were revealed by the GoI in the budget documents of JK presented in the Parliament today.
According to the documents investment proposals worth Rs 90,182 crore were received, with the potential to generate employment for 4,01,965 youth.
“Since 2019-20, investments worth Rs 5,319 crore have been grounded,” the documents state.
The Union Territory Government has launched the Jammu and Kashmir Industrial Policy 2021-30 with the aim of attracting new investment, creating employment opportunities for youth, developing backward regions, and expanding existing industrial units.
In a bid to attract investors, it has also notified the Industrial Land Allotment Policy 2021-30, Private Industrial Estate Development Policy 2021-30, Wool Processing, Handicrafts, and Handloom Policy 2020.
The GoI also revealed that apart from the existing 64 industrial estates, 46 estates are being developed to fulfill the goal of ‘Made in Jammu and Kashmir’.
“46 new Industrial Estates have been identified for development to attract investment and create employment opportunities,” the budget documents state.
According to the documents, Jammu and Kashmir emerged as the top-ranking Union Territory of India in the 2022 Export Ranking.
“The Union Territory improved its ranking from 35 in 2020 to 17 in 2022,” the budget documents revealed.
The Centre also revealed that Handloom and Handicraft exports have doubled from Rs 563 crore in 2021-22 to Rs 1,116 crore in 2022-23—(KNO)
