J&K open for Business, Time to Invest in UT urges LG Sinha.

Lt Governor Manoj Sinha on Thursday said the new Rs 28,400 crore Industrial Development Scheme is proving to be a game changer in facilitating the Industrial growth in J&K.

He urged investors from across the globe to come and invest in Jammu and Kashmir while addressing “ELARA India Dialogue 2021” through virtual mode.

Hundreds of company representatives from across the country and abroad attended the dialogue.

The new industrial scheme, offering a host of attractive Industrial Incentives, a supportive framework of Ease of Doing Business, coupled with the Land Bank of 12,000 acres, private industrial estate development & a strong MSME ecosystem, is unlocking the investment flow and welcoming the potential investors to look at J&K as a great business opportunity, added the Lt Governor.

“The industrial holiday of the Union Territory is over and we are open for business. I invite the investors from across the globe to invest in Jammu Kashmir and be a partner in the UT’s rapid economic growth”, said the Lt Governor.

“This is the new Jammu Kashmir determined to reverse the trend of the past seven decades by pushing the targets for economic growth and employment. Our aim is very clear- deepen the trust with business conglomerates, build the industrial base for the economy and strengthen the social stability”, LG said.

J&K offers abundant raw material for agro & food processing, is strategically located with rich culture and nature, hub of handloom and handicraft, rapid single window clearance, industrial infrastructure and a responsive governance & minimum government.

Moreover, Jammu & Kashmir has the lowest crime rate and lowest power utility rates. Security situation has significantly improved. In July, 10.50 lakh tourists visited the UT while the number has gone up to 11.20 lakh last month, clearly indicating a conducive environment for the businesses to flourish, said the Lt Governor.

The Lt Governor assured the potential investors that the government will be a facilitator, partner, provider, collaborator and promoter at every step. We will ensure a sustainable, balanced, progressive and competitive business environment for traditional core sectors as well as new-age technology driven sectors, added the Lt Governor.

Highlighting the unprecedented support being extended by the Government, the Lt Governor said that we are developing a progressive business regulatory environment; unleashing the productive energy of various growth sectors and nurturing young talented population to build one of the best human capitals to tap rapidly growing opportunities in the Union Territory.