Centre’s big push to boost industries in J&K

Many big business players would be given a lot of incentives and also land, if they want to purchase it or take on lease, as the Central government is going for a huge push to industrial development in the Union Territory of Jammu and Kashmir.

According to official sources, talks with some big business houses have been going on and in the current year, the government of Jammu and Kashmir is going to provide huge chunks of land in Jammu and Kashmir to these industrial tycoons so that industrial work gets started fast here.

According to recent media reports from New Delhi, the Union Cabinet is going to approve a new industrial policy for the UT of Jammu and Kashmir and they have an aim of getting Rs 30,000-35,000 crore in Jammu and Kashmir in the next two years, from the big industries. Reports said that huge incentives and subsidies would be given to the big industrial groups so that they come and invest in Jammu and Kashmir for the next two years. Land has already been kept ready for the development of two big skill development projects in Baramulla and Jammu and both these projects would be started by the Tata group, government sources said.

Stock exchange BSE Ltd in November last year signed four Mous with the J&K administration, to spread financial awareness, support economic development and encourage sustainable livelihood of youth of the region. According to data available, over 6,000 acres of government land across J&K will be used for development of new industries, of which 3,000 acres have been acquired from the UT’S revenue department.