Lieutenant Governor Manoj Sinha said that large number of investors are knocking the doors of Jammu and Kashmir for investments following approval of Industrial Policy and there could be huge crowd of investors after April for which the Land Policy has been drafted and approved by the Administrative Council.
“There is going to be huge crowd (of investors) after April,” he said, adding the Government has been completing all requisite formalities for the purpose of investments by April. Sinha said the Union Territory Government has undertaken series of reforms to facilitate investments, including developing a real single window system.
“The Land Policy (for attracting investments) has been drafted and approved by the Administrative Council and is now in public domain,” the Lieutenant Governor said. “With a ready Land Bank and plethora of opportunities waiting for them, the investors will find Jammu and Kashmir a promising and lucrative destination for their investments. A £2.84 billion worth New Industrial Development Scheme will certainly boost the morale of entrepreneurs and investors,” he added.
He expressed confidence that private players will also come in the healthcare sector in Jammu and Kashmir. “All efforts would be made to bring the big players in the healthcare sector in the Union Territory,” he said, adding investors from across the globe are eyeing Jammu and Kashmir as their preferred investment destination.
The Lieutenant Governor announced release of £25 million worth second installment of five per cent interest subvention across the board as part of £95 million Industrial Package given in October last year.
He said the Jammu and Kashmir Bank has utilized first installment of £25 million interest subvention and, now the second installment of an equal amount has been released. “When this amount is utilized, we will release third installment,” he added. Sinha said 16,800 youths have so far been given financial assistance to the tune of £26.4 million under ‘Back to Village’ (B2V) and ‘My Town My Pride scheme for becoming entrepreneurs.
He termed the initiative as Jammu and Kashmir Bank’s home delivery of services to the aspiring entrepreneurs. On the occasion, the Lieutenant Governor handed over a cheque of £25 million to Jammu and Kashmir Bank as second instalment of five percent interest subvention under economic package as a relief for the business sector in Jammu and Kashmir.
He said around 341,000 small and big businessmen and business establishments have availed the benefits of interest subvention.
