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March 23, 2023 10:26 pm

J&K Anticipates Rs 60,000 Cr Investment: MoS Home

Union Minister of State for Home Affairs Nityananda Rai | File Photo

Says Investment Worth Rs. 1924.64 Crore Has Come On The Ground

New Delhi- The Union Territory administration has received Rs 1924.64 crore investments since the introduction of Jammu and Kashmir Industrial Policy, 2021, while the anticipated investment has now touched Rs. 66,000 crore, the Minister of State for Home Affairs, Nityanand Rai said Thursday.

Quoting the information provided by the J&K government, Rai in a written reply to a question in the Rajya Sabha said that since the announcement of New Industrial Policy, 2021, a total of 5327 applications, investment proposals have been received so far.

He said that the anticipated investment which was worth Rs. 64,058 crore in December, last year has now touched Rs. 66,000 crore.

“After the introduction of J&K Industrial Policy, 2021, investment worth Rs. 1924.64 crore (Rs. 376.76 crore in 2021-22 and Rs. 1547.88 crore in 2022-23 (up to January, 2023) has come on ground. The investment during the current financial year is the highest ever compared to any other previous financial years,” the Minister said.

“Out of 5327 proposals received, land has been allotted in respect of 1854 units and 854 have paid the premium.  560 units have signed lease deeds and have taken over the possession of the land allotted. 129 units have started work on ground. In addition, 350 existing units have also come into production after the announcement of New Industrial Policy, 2021,” he added.

The Minister further informed the Rajya Sabha that J&K government of Jammu and Kashmir has taken several steps such as Business Reforms Action Plan (BRAP)- Ease of Doing Business( EoDB), 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.

Giving further details in his written reply, Rai said to boost industrial growth, the government is strategically working on Implementation of BRAP. He said 352 BRAP points have been complied and 3188 burden compliances have been reduced under BRAP.

“167 services of 18 departments have been provided on a single window portal. The BRAP score of J&K has improved from 0.30% to 79.67%,” he said.

About the Single Window Clearance System, the Minister said to provide seamless services to the prospective investors, all the government to business services have been brought on Single Window System for convenience of both the Government departments and the investors.

For Development of new Industrial Estates and improvement of infrastructure, Rai said Investor Facilitation Cell is in place for necessary facilitation/ awareness, with the aim to connect the industries with global markets and further inviting investors to promote J&K as an ideal investment destination.

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