Early Times Report
Srinagar, Jan 28: Jammu and Kashmir is set to organise road shows across India to invite investors to invite in the new Union Territory.
This is a major push for the government to ensure investment by foreign investors post abrogation of Article 370.
Government has decided to organize road shows from next month in Chennai, Ahmedabad, Surat, Bangalore, Kolkatta, Hyderabad, Mumbai and Delhi to invite investors to invest in Jammu and Kashmir.
Government has identified 14 sectors for prioritizing efforts for the investment in J&K.
These include: Manufacturing, IT sector, tourism hospitality, film production, agriculture, milk poultry, wool production processing silk, handlooms, handicrafts, healthcare, medicinal plants, education and skill development infrastructure and real estate.
Barriers to ownership of land for industry investment urban spaces and private employment have been removed.
“J&K can now fully enjoy the rights and benefits enjoyed by all other citizens of India rather than just a limited set of rights and benefits,” sources said
“We intend to take a leap forward in making J&K an economic paradise for investors. I would like to invite investors to take the land in setting up your enterprises in JK,” said Lieutenant Governor Girish Chandra Murmu recently said.
“In order to make J&K a preferred investment destination, we have laid special emphasis on business partnerships for the development of mega and large industries,” he added.
Sources said the ambitious Industrial Promotion Policy 2010 is at the final stage and would be finalised in three weeks.
“This will have elements like GST reimbursement in full, a very attractive land policy, exemption from stamp duty, a capital investment subsidy and other benefits. It will provide capital and transport subsidy to investors,” they said.
“The Policy will focus on improving ease of doing business through the single window system mechanism which will streamline approvals for investment in all sectors,” the official said. The Policy is being done in consultation with the central government.
“The policy focuses on boasting all these sectors,” the official said.
Government has directed to all district commissioners to submit details about the land available in their jurisdictions. J&K has a robust economy centered around agriculture, horticulture and the services sector.