The recent mega package for the industrial growth announced by the central government to the tune of 28000 crores should prove a big push for the industrial growth in Jammu and Kashmir. There have been some big business tycoons showing interest in establishing their industrial units in Jammu and Kashmir as the government has announced a lot of perks including security for the big industrial units in Jammu and Kashmir.
In this direction recently JK government has said all the companies that have signed Memorandum of Understanding (MoU) with the Jammu Kashmir government to set up their units would be allotted land based on their investment plan in the region as per the new Industrial land policy.
JK government further said that they will give the land to the companies as per the merit of their project. Explaining the anomalies of the past, the present administration had claimed that earlier, irrespective of the size of the project, land was randomly allocated to the companies.
After five years, the companies used to turn the same land into real estate and sell it afterwards, the present administration of UT claimed that when the land was allotted the big business houses, after five years they will change it and sell it to others.
Present JK administration said that such a trend was discouraging the real industrial growth and encouraging real estate business in the name of industries in Jammu and Kashmir.