J&K in final stages of industrial promotion policy to attract investment: LG Murmu

File Pic of Lt Gov. Girish Chandra Murmu

Jammu and Kashmir administration is in the final stages of designing an ambitious industrial promotion policy to attract private investment, Lt Governor G C Murmu said on Saturday, as he invited investors from across the globe and assured full support for their interest in the Union Territory.

He also said that the proposed global investment summit in Jammu and Kashmir would be held soon and would be announced once the COVID-19 pandemic is brought under control.

“We are in the final stages of designing an ambitious industrial promotion policy 2020. It will have elements like tax exemption and very attractive land policy…this will be in addition to the incentives to be provided by Government of India through a special J&K Industrial development scheme which is already in play and is currently being revamped,” Murmu said.

Delivering his address at the India Global Week 2020 – a virtual conference being organised in the UK, he said, “We have identified 14 sectors for privatizing our efforts for investment”.

Identifying the sectors including Information Technology, tourism and hospitality, horticulture and post harvest management, agro and food processing, agriculture and milk poultry, processing of handloom, silk and handicraft, healthcare and pharma, medicinal plant, education and skill development, infrastructure and real estate and hydro and renewable energy, the Lt Governor said his government is developing a state-of-the-art infrastructure for industries in the UT.

“We are currently developing two ITs and two ICDs and have identified industrial land,” he said, adding that 6,000 acres of government land, without disturbing agricultural land, across 20 districts will be used to develop state-of-the-art industrial estates.