J&K plans mega biz summit in April-May
The Jammu and Kashmir government will organise a major industrial investment summit inviting top corporate houses in April-May. This comes soon after the Narendra Modi government cleared a whopping `28,000 crore industrial policy for the Union territory.
The Union Cabinet last week cleared the ambitious industrial policy that aims to create 4.5 lakh jobs and attract `20,000 crores in investments in the private sector.
The policy plans to further increase the existing industrial sector and to set up new units both in the private and public sectors. The package cleared by the Cabinet will remain valid for 17 years, meaning till 2037. The administration is hopeful of investments in the IT and tourism sectors.
The Jammu and Kashmir administration is planning to organise a major industrial investment summit inviting top corporate houses in AprilMay. The move comes close on the heels of the Modi Government clearing a whopping `28,000 crore industrial policy.
The Union Cabinet had earlier this week cleared the ambitious industrial policy which aims at creating 4.5 lakh jobs and attracting `20,000 crore investments in the private sector also in the newly created Union Territory.
The policy plans to further increase the existing industrial sector and setting up new units both in private and public sector. the package cleared by the cabinet will remain valid for a period of 17 years which means till 2037.
Sources
Centre and the J&K Administration were extremely hopefully that with improved security situation in the UT and a new industrial policy a lot of big private sector players will come to invest in J&K. The UT Administration feels that the situation was favourable for investments in sectors like tourism and IT.
A senior home ministry official said that this was an unprecedented industrial package and policy announced by centre and will help bring J&K’s economy back on track following nearly three decades of militancy in the Kashmir Valley.
“The main aim of the new industrial policy is to provide a smooth and progressive ecosystem for business plans of industrial houses. With our transparent policies, we aspire to become a growth pillar for India in the current decade,” the official further added.