SRINAGAR, MAR 01: Jammu and Kashmir has received a massive boost in investments and industrial growth under the current central government.
As per data released by the Union Ministry of Home Affairs on Thursday, Jammu and Kashmir has received over 6,000 investment proposals worth Rs 90,182 crore so far. Additionally, 46 new industrial estates are being developed in the Union Territory to generate over 4 lakh employment opportunities for locals.
In a statement posted on social media, the Home Ministry spokesperson said that under Prime Minister Narendra Modi’s leadership, J&K is on the path of all-round development. The Union Territory is witnessing unprecedented industrial expansion under the guidance of Home Minister Amit Shah.
The Rs 90,000 crore investments and setting up of new industrial hubs are expected to transform Jammu and Kashmir’s economy, especially in sectors like food processing, pharma, tourism, infrastructure and manufacturing.
Experts say the investor interest shows the changing perceptions about J&K’s business environment after the abrogation of Article 370. The UT administration has also introduced several reforms to facilitate ease of doing business and attract companies.
With the rapid progress in connectivity and infrastructure projects underway, Jammu and Kashmir is poised to become a favoured investment destination. The massive employment opportunities to be created through new industries will benefit local youth. The industrial push is in line with the Narendra Modi government’s vision of development and economic prosperity in Jammu and Kashmir. People from all walks of life have welcomed the unprecedented growth in investments and new projects in the Union Territory in the past two years.
