Kashmir attracts investments worth over Rs1,200 crore in first six months this year

Kashmir attracts investments worth over Rs1,200 crore in first six months this year

Kashmir is fast attracting investments in various sectors after the introduction of New Industrial Policy, as investments worth over Rs1200 crore have been realised by the Departments of Industries and Commerce till September 30 this year.

Documents accessed by news agency—Kashmir News Observer (KNO) suggest that Kashmir has  been a focal point for investments this year as investments worth Rs 1285.6105 crore have been realised by the government this financial year. These investments generated jobs for 15131 persons.

Jammu on the other hand received investments worth Rs 466.49 crores.

Documents suggested that Rs290.792 crores investment has been realised for setting up of 50 units, which have also commenced production. As many as 1107 youth got employment in these 50 units.

It said Rs 40.7885crore investment has been realised by the department for 13 units which have undergone substantial expansion. These 13 units as per the documents provided jobs to 149 persons.

An investment of Rs 203.28crores has been realised by the government from 28 units, which are ready for production and have been invested on ground, documents revealed. 566 youth got jobs by working in these 28 units.

Documents said that Rs 694.62 investment has been realised by the administration from 32 units in Kashmir, which have initiated groundwork. A total of 2780 persons got jobs in these 32 units.

It said Rs20.96 crores investment made in five hotels where investments were made on ground and are in operation “but registration in I&C department is pending for want of documents”. As many as 87 persons got jobs with these investments in the hospitality sector.

Documents said an investment of Rs 1,752.1 crores have been collectively realised in Jammu and Kashmir this year till September 30, which is the highest-ever figure.

Last year, Jammu and Kashmir realized investments worth Rs 2153.45 crores during the financial year 2022-23, which was highest in the last decade.

As per the documents, the government till now received 6231 investment proposals with investments of Rs 87,923 crores and potential employment of 3,92,162.

Official sources reveal that investment has been coming from within the country as well as from outside India.

“The investments are coming in various sectors including health, education, horticulture, agriculture and tourism. Post-2019, the investment proposals have been regularly coming and the government has also encouraged turning the union territory into an investment hub to ensure development and jobs for the youth,” they said

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