New Delhi: As per the information provided by the Government of Jammu and Kashmir, since the announcement of New Industrial Policy, 2021, a total of 5327 applications/investment proposals have been received so far. The anticipated investment which was worth Rs. 64,058 crore in December, 2022 has now touched Rs. 66,000 crore.
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 deed 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 announcement of New Industrial Policy, 2021.
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 Government of Jammu and Kashmir has taken several steps such as Business Reforms Action Plan - Ease of Doing Business, 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. A few steps are as under:Business Reform Action Plan- Ease of Doing Business (BRAP-EoDB): To boost the industrial growth, Government is strategically working on Implementation of BRAP. 352 BRAP points have been complied and 3188 burden compliances have been reduced under BRAP. 167 services of 18 departments have been provided on single window portal. The BRAP score of J&K has improved from 0.30% to 79.67%.
Single Window Clearance System: 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.
Development of new Industrial Estates and improvement of infrastructure.
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.
This was stated by the Minister of State for Home Affairs, Nityanand Rai in a written reply to a question in the Rajya Sabha.
