In 5 years, J&K attracts industrial investment worth `3,397 cr

State receives 0.25 percent of all-India share in 2017

Srinagar, Publish Date: Mar 14 2018 12:15AM | Updated Date: Mar 14 2018 12:15AM
In 5 years, J&K attracts industrial investment worth `3,397 crRepresentational Pic

While Jammu and Kashmir attracted investment worth almost Rs 3,397 crore in last five years, the investments proposals have doubled since 2013, according to data compiled by Department of Industrial Policy and Promotion (DIPP), Government of India.

The investment proposals increased to Rs 1,008 crore in 2017 from Rs 450 crore investment proposals received by the state government in 2013.

According to DIPP, share of industrial investments from J&K towards total investments in the country during 2013 was only 0.08 percent. This witnessed an increase and clocked 0.25 percent in 2017. Barring 2014, the year when the state was hit by massive floods, industrial investments have witnessed an increase every year since last 5 years.  

While in 2014 Rs 297 crore worth investment proposals were received, it witnessed a growth every year with Rs 663 crore in 2015, Rs 979 crore in 2016, Rs 979 crore in 2016 and Rs 1,008 crore in 2017, the DIPP data indicates.

In 2014, the share of J&K towards all-India industrial investments was 0.07 percent. It grew to 0.21 percent in 2015, 0.24 percent in 2016 and 0.25 percent in 2017.

A recent document released by the state Industries and Commerce Department states that 21 investment proposals worth Rs 3119 crore have been cleared by Apex Project Clearance Committee of the Department. Information tabled by Industries Minister Chander Prakash Ganga in the state Assembly recently stated that 9 out of the 21 cleared medium and large scale projects have been given a final approval by the government.

The J&K State Industrial Policy-2016 also envisages to attract investment of Rs 20,000 crore in the industrial sector over a period of 10 years upto 2026.

According to officials, as of December 31, 2017 Kashmir had 25,432 small, medium and large industrial units which is more than double the number of industry in Jammu region. Despite having only 12,500 industrial units, Jammu is attracting fresh big-ticket investments in large numbers.

As per information tabled by the minister in the state Assembly, lesser number of industrial units were set-up in Jammu during last three years compared to Kashmir like wise investment figures clocked in the Jammu outnumbered that of Kashmir.

“1255 industrial units have been set up with an investment of Rs 409.70 crore in Kashmir valley during last three years. In Jammu region, 610 units with an investment of Rs 486.52 crore have been set up during the same period,” Ganga said. The minister had also informed that 1,865 industrial units with an investment of Rs 896.22 crore have been set up in the state during the last three years.

According to industries department, to boost industrial development, massive upgradation of infrastructure for industrial estates across the state at a cost of Rs 138 crore has been taken up and completed mostly.

“Establishing Common Facility Centers for leather cluster at IE Lassipora to facilitate entrepreneurs to set up leather goods manufacturing units sanctioned by Department of Industrial Policy and Promotion, Government of India with project cost of Rs 40 crore is in the anvil,” a document of industries department states.

The document states that infrastructure development of existing industrial estates along with setting up of new Common Facility Centers for sectors such as leather and bat industry has been undertaken to boost investments in the state.

“13661 kanals of additional land at various places in the state is at different stages of the acquisition process that shall serve as a land bank for industrial growth,” states the document.