Record investments of Rs 1547.87 cr received by J&K during 2022-23: MHA

Srinagar: The Ministry of Home Affairs, Government of India, on Tuesday said that during the year 2022-23, till January 2023, a record investment of Rs. 1547.87 crore has been received by the Jammu and Kashmir.

“The investment during the current financial year is the highest ever compared to any of the previous financial years,” Minister of State for Home Nityanand Rai said in the Lok Sabha in a written reply

“The Government expects investments to further increase in the next five years in various important sectors like manufacturing, service sector, healthcare and pharmaceuticals, agro based industry, tourism (including film & medical tourism) etc,” he said, as per the reply, a copy of which lies with GNS, adding, “In this connection, the Government of Jammu and Kashmir has already received investment proposals worth Rs. 64,058 crore.”

Responding to question about the steps taken by the Government in encouraging investments in the J&K, Rai said, the Government of India has notified the New Central Sector Scheme for Industrial Development of Jammu & Kashmir on 19 February 2021.

Various policy initiatives have been taken by the Government of Jammu and Kashmir, he said. several policies are notified for making the J&K an investor friendly destination and counted J&K Industrial Policy 2021-30 among them. Others include J&K Industrial Land Allotment Policy 2021-30, J&K Private Industrial Estate Development Policy 2021-30 and fourth one is J&K Wool Processing, Handicrafts and Handloom Policy 2020, he said.

“In addition, various other measures have been taken to improve business environment through ease of doing business, economic package, operation of night flights from Jammu and Srinagar, etc,” he added. (GNS)

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