J&K bags Rs 1.63-trn Investment Proposals

Jammu: Investment proposals worth Rs1.63 lakh crore have been received till December last year, which will create direct employment opportunities for more than 5.90 lakh people, Jammu and Kashmir government’s economic survey report 2024-25 said.

The report, tabled by the Chief Minister in the Legislative Assembly last week, said 1,984 units involving an investment of Rs9,606.46 crore and providing employment to 63,710 people have come into production in the Union Territory since 2019 till December 2024. This includes 334 units having employment of 8,443 persons with an investment of Rs2,977 crores in FY 2024-25 up to December 2024.

As many as 8,306 new applications have been received with a proposed total investment of Rs1.63 lakh crore and the potential to create employment for approximately 5.90 lakh individuals, requiring 79,137 kanals of land as of December 2024, the survey said. It said the Industries and Commerce Department envisions sustainable, equitable, environment-friendly and balanced industrial growth and economic development of J&K with focus on employment generation.

Development of backward regions and nurturing existing units is emphasized upon in the J&K Industrial policy 2021-30. To attract investment further in the Industrial Sector, J&K Government introduced new policies which include J&K Start-Up Policy 2024-27 and J&K Wool processing, Handloom and Handicraft policy 2020. Online allotment of land across the Union Territory in a transparent way is ensured through the J&K Industrial Land Allotment Policy 2021-30.