200+ Investors From Outside J&K Set Up Businesses in UT

Jammu, Mar 16 (PTI) Over 200 investors from outside Jammu and Kashmir have been provided land in the industrial estates to set up their business units in Jammu and Kashmir in the past decade, official data said.

The process of land acquisition by outside investors, mostly from Delhi, Haryana and Punjab, marked manifold increase after the abrogation of Article 370 and bifurcation of the erstwhile state into two Union Territories in August 2019.

According to the data shared by the industries and commerce department, the majority of investors preferred Kathu and Samba districts in Jammu region to establish their firms compared to a very few businessmen showing interest in the Valley.

Under the industrial policy 2016-26, a total of 28 businessmen from different parts of the country were allotted over 500 kanals of land to set up their units in the twin districts of Samba and Kathua. The allotment of land varies depending on the investment proposal.

However, the introduction of the amended industrial policy 2021-30 after the abrogation of Article 370 saw businessmen from Delhi, Chandigarh, Uttar Pradesh, West Bengal, Haryana, Punjab, Bihar, Maharashtra, Gujarat, Karnataka, and Tamil Nadu also eyeing the region for investment.

Almost 50 businessmen from Delhi have been allotted land in Jammu and Kashmir, followed by Haryana (45), Punjab (43), Uttar Pradesh (14), Maharashtra (nine) and seven each from Gujarat, Chandigarh, and Himachal Pradesh.

The officials said the land for creation of industrial estates was placed at the disposal of the Industries & Commerce Department by the Revenue Department, which was then allocated to the aspiring entrepreneurs as per the established policy and procedures.

Meanwhile, the Deputy Chief Minister Surinder Choudhary said the focus sectors for the Industrial Policy 2021-30 included manufacturing, IT and ITeS, agriculture and food processing, healthcare and pharmaceuticals, infrastructure and real estate, skill development, tourism and hospitality, film tourism, horticulture and post-harvest management, renewable energy, handloom and handicrafts.

Various policy initiatives are being taken up by the government to boost the industry sector and make it an investor-friendly destination, he said.

Any business enterprise having 51 per cent stake held by women entrepreneurs shall qualify to apply for allotment in the designated industrial estate, he added.