BUSINESS CULTURE
The J & K administration is trying by the new industrial policy to bring a lot of investments here. J&K administration is in the process of developing a business culture, industrial ecosystem for the investors.
Business enterprises to be established on private land shall be entitled to all the incentives as per extant policy and procedure of new industrial policy in Jammu and Kashmir.
Recently Lieutenant Governor, Manoj Sinha held interactions with the Industry leaders at Kolkata and invited them to invest in the Union Territory of Jammu Kashmir.
He said that there are a host of interventions made by the J&K Government for creating a sustainable, balanced, progressive and competitive industrial ecosystem in the region.
He has announced the enhancement of the Industrial Development scheme outlay to meet the exceeded expectation of Investments in Jammu Kashmir.
The proposed investment has already reached Rs. 31,000 Cr and is expected to cross Rs.51,000 Cr by the end of the financial year. Given the response received, the government is enhancing the scheme outlay to meet the demand.
With the quantum jump witnessed in the proposals received for setting up business enterprises, the demand for land has correspondingly increased, and to meet the growing demand, Land Bank is being developed across the UT. He announced that the UT government is coming up with the rules governing change of land use shortly to facilitate the setting up of business enterprises on private land.
