Govt Eyes Rs 50,000 Cr Investment Proposals By March 2022

J&K Was Deprived Of Industrial Development For Decades: LG

Srinagar: Asserting that the government is working on an ambitious plan to make Union Territory the skill capital of the country, Lieutenant Governor Manoj Sinha on Thursday expressed hope that investment proposals in Jammu and Kashmir will reach Rs 50,000 crore by March next year.

“Jammu and Kashmir was deprived of industrial development for decades. Now, the Rs 28,400 cr new Industrial Development Scheme is transforming the industrial sector of the UT and attracting huge investments,” Sinha said, as per an official spokesperson.

The LG made these remarks after laying foundation stone for the 700- bedded mega boys’ hostel of National Institute of Technology (NIT) Srinagar through virtual mode on Thursday. Dharmendra Pradhan, Union Minister for Education shared his views on the occasion through a video message.

“Recently, J&K has received investment proposals worth Rs 23,500 cr and if we go by the recent scenario, the figure will reach Rs 50,000 cr by March next year,” the LG said, adding “The development of key industries will create new job opportunities for youth,”

According to the official spokesperson, the LG pointed out fast-changing market dynamics and new innovations taking place globally and the efforts being taken by the UT Government to amplify exponential technologies ecosystem to meet the modern-day requirements.

“With our technical education infrastructure, rigorous career programs for high-demand technology in the post-Covid world, we are working on an ambitious plan to make J&K UT the skill capital of the country,” Sinha said.

According to the official spokesperson, the LG also asked the technical institutions to focus on strengthening Academia-Industry collaboration which is crucial for research, innovation and building human capital for economic growth. He further said that technical Institutes must experiment with new technologies for the benefit of society.

“Emerging technologies are also a basic need of civilized society. Without new inventions, a developed society cannot be conceived,” Sinha said.

“The modern era engineering technologies are making the world more connected and transforming lives of people living in far-flung areas. Today’s fantasy could be tomorrow’s invention. Even a small invention in the lab can make a big difference to the world. That’s why it is important to promote scientific temper among students,” he added.

Terming youth power as the biggest asset for any region, the LG, as per official spokesperson said that the potential of the young generation needs to be properly channelized for development. The LG, he said, also underlined the need for encouraging innovations and inventions as recommended by the new National Educational Policy.

“The government is taking a host of measures to make our youth well-prepared for Industry 4.0. We are planning to set up more Centres for Invention, Innovation, Incubation and Training in J&K in order to prepare trained technocrats equipped with new skill sets to meet the growing demands of Automation, Artificial Intelligence and e-commerce sectors,” the LG said.

The official spokesperson said that the LG appreciated NIT Srinagar for its continuous efforts in developing infrastructure in the campus and said that the premier technical institute is making headways in making itself Aatma Nirbhar in terms of extending all requisite facilities to the students, besides achieving organic growth in training and placement.

The LG, he said, also recalled his interaction with two young innovators during his recent visit to NIT Srinagar and said that necessary directions have been passed to the CEO Mission Youth to connect them and take their innovations to the grass root.

“I have full faith that ‘Smart Crop Irrigation and Monitoring System’, which has been developed by the students of Chemical Engineering of NIT Srinagar, will bring a new revolution in cultivation of Saffron in the coming times,” Sinha said.

In his video message, the official spokesperson said that Union Minister for Education, said that the Mega Boys Hostel, once completed, will equip NIT Srinagar with modern facilities enabling the institution to accommodate the increasing number of student intake.

“I always believe that Jammu and Kashmir has a fundamental role to play in the development of the nation. The youth of J&K are filled with energy and aspirations. Higher Education Institutions such as NIT Srinagar must channelize their talent, knowledge, and skill for the transformation of the UT and the entire country,” Pradhan said.

Prof. (Dr.) Rakesh Sehgal, Director, NIT Srinagar gave a detailed overview of the project and informed that the mega hostel is being constructed as a green building through a loan amount of Rs 85 cr approved by Higher Education Financing Agency (HEFA) on the recommendations of the Ministry of Education, the official spokesperson said.

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