Foreign investments
The Union government has intensified its efforts to bring foreign investment in Jammu and Kashmir. They have already reformed the laws for industrial growth and are expecting a lot of big players to come here.
Recently the administration in Jammu & Kashmir worked hard to convince Dubai-based investors to explore investment possibilities in the Union Territory. JSW Steel Ltd. and Apollo Hospitals Enterprise Ltd. became the first major corporations to buy land for their projects after the reading down of Article 370 in 2019.
The possession of 70 kanals of land (8.75 acres) has already been handed over to JSW Steel Ltd. In Pulwama’s Lassipora industrial area to set up a Rs 150-crore steel plant.
Apollo Hospitals is setting up a 250-bed super speciality hospital in the Jammu region. The administration has already earmarked 100 kanals (12.5 acres) at Jammu’s Miran Sahib for a medi-city, which will accommodate the country’s top health sector corporates to invest here.
In Kashmir, Medi-city is coming up on 368 kanals (46 acres) in Sempora of south Kashmir’s Pulwama district as many groups have also shown equal interest to invest in the medi-city. The Administrative Council had approved the transfer of land measuring 750 Kanals in favour of the Industries & Commerce Department for setting up a Medicity.
