Jammu & Kashmir Approves Land Transfer for Industrial Estates

Srinagar, Jul 26 (PTI) Jammu and Kashmir Administrative Council on Friday approved proposals for the transfer of land for industrial estates in various districts, an official spokesman said.

The council met under the chairmanship of Lieutenant Governor Manoj Sinha.

A total of 3,188 kanals and 8 marlas of land has been transferred to the Industries and Commerce Department for the purpose, the spokesman said.

The transferred land parcels are in Kupwara, Bandipora, Anantnag, Pulwama, Baramulla and Budgam districts.

Development of Industrial infrastructures has been a focus area post-2019 and has been considered as main vehicle for accelerating economic activity besides providing employment, the spokesman said.

He said the Industries & Commerce Department has come up with various initiatives for setting up industries in the UT.

In another decision, the administrative council approved amendments in the Industrial Land Allotment Policy 2021-30.

To encourage large investments having strategic importance to economy of UT, Government may allot land on preferential basis to mega projects viz. industrial/service sector units with minimum capital investment (excluding land and working capital) of at least Rs. 4000 crores, he added.

The amendments shall ensure equity and transparency amongst applicants. The amendments in the Jammu and Kashmir Industrial Land Allotment Policy, 2021-30 shall help in realizing large investments and this will be a fillip to employment generation in the UT, he said.