New Delhi, Nov 21: Jammu and Kashmir Lieutenant Governor Manoj Sinha urged industry players on Tuesday to invest in the Union Territory, emphasizing that it provides better incentives and a secure business environment compared to many other states. Sinha revealed that the industry department of Jammu and Kashmir currently has business proposals exceeding Rs 86,000 crore, with ongoing efforts to materialize them.
These investment proposals cover both Jammu and Kashmir divisions and include several foreign direct investment (FDI) proposals. Sinha mentioned that the UAE-based Emaar Group has plans to develop a shopping mall and an IT tower in Srinagar.
Highlighting the incentives offered, including affordable power tariffs, capital investment incentives, and interest subvention, Sinha encouraged industry leaders to explore the abundant opportunities in different sectors. He pointed out the increasing tourist inflow, expected to exceed 2.25 crore this year, and highlighted the improving connectivity with an increasing number of trains and flights connecting the Union Territory.
Sinha emphasized that the UT administration is actively promoting industrialization and cited the positive environmental conditions and low crime rates. He assured potential investors that incidents like stone pelting and blockades are things of the past. Sinha also discussed upcoming infrastructure projects, such as the Katra-Delhi greenfield expressway and the Inland container depot, aimed at further facilitating business operations in the region.
