J&K: ₹86,000 crore investment proposal for development

J&K receives money for development works
Representative Photo

Jammu and Kashmir (J&K) has been witnessing a transformational wave of economic growth and development since the abrogation of Article 370 in 2019. This remarkable progress was underlined by Lieutenant Governor Manoj Sinha, who announced that ₹86,000 crore worth investment proposals in Jammu & Kashmir have been received. This groundbreaking revelation came during his speech at the inauguration of a state-of-the-art cold storage facility, marking another milestone in J&K’s journey towards prosperity.

Projects worth thousands of crores inaugurated

In the past six months, J&K has seen a surge in infrastructure development, with projects worth ₹1,250 crore inaugurated. An additional 269 projects are in the pipeline, set to create employment opportunities for approximately 16,000 people. This surge in infrastructure development is expected to have a profound impact on the region’s economic landscape.

The newly inaugurated cold storage units are poised to benefit fruit growers significantly. With a combined storage capacity of around 6,000 metric tons, these units will not only help farmers preserve their produce but also provide employment for approximately 600 individuals. The government is dedicated to enhancing storage capacity across J&K to further support agricultural growth.

Lt. Governor Manoj Sinha emphasized the government’s commitment to supporting growers at every stage, from seed to market. Special emphasis is also being placed on smart and digital agriculture. Post-harvest issues faced by farmers are being addressed, and training sessions at the panchayat level are being conducted to ensure that farmers have the necessary skills to thrive in the evolving agricultural landscape.

Harnessing the fruit diversity

One of the key advantages for investors in J&K is the extended occupancy of cold storage units, often spanning the entire year due to the diverse range of fruits available in the region. Combined with favorable incentives, the potential for investment in Controlled Atmosphere (CA) storage is promising.

Lt. Governor Sinha revealed that the government is actively working to provide land and support to the investors behind the ₹86,000 crore proposals. The goal is to ensure that more and more people benefit from this significant inflow of investments.

The Industries Department has also introduced new policies to attract more investors and create an enabling environment for economic growth in J&K. The integration of the National Single Window System exclusively in J&K has streamlined the process, making 182 services available online to facilitate ease of doing business.

The transformation of Jammu and Kashmir is evident in the unprecedented economic growth and opportunities emerging in the region. The abrogation of Article 370 in 2019 has ushered in an era of stability and security, dispelling long-persisting insecurities and bridging the gap between the people of the UT and the rest of India.

Today, J&K is embracing mainstream development with open arms. The substantial investment proposals in Jammu & Kashmir signify a changed mindset among the people, who now prioritize development and the future of their children as their primary goals. This economic surge marks a significant shift from the terrorising environment experienced over the past five to six decades and paints a promising picture of a brighter, more prosperous future for Jammu and Kashmir.

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