Jammu, Jan 7: Jammu and Kashmir’s Lieutenant Governor Manoj Sinha Thursday announced the GoI-approved Rs 28 400 Crore “Industrial Development Package-2021”, which is billed to strengthen industrial growth, investments and job creations in the industrial sector.
While at this time the complete details of the package are not available, informed sources told Ziraat Times that the package is basically designed as a special investment incentives schemes for potential new industries as well as some incentives for existing industries in J&K.
Addressing a press conference in Jammu, LG Sinha said that the Union Cabinet on January 6 sanctioned the Industrial Development Package-2021 for J&K’s industrial sector that has been craving for the real support from the Centre.
“The package aims at providing a huge boost to the existing industrial sector, setting up new units, creating 4.5 lakh jobs and at least 20,000 Crore investments. The package will remain in force for 17 years i.e. till 2037,” he said as per news agency—Kashmir News Observer (KNO).
He said that with the announcement of the new industrial package, GoI has once again showed it’s committed towards sowing the seeds of growth, prosperity and employment.
“This is a historic Industrial package that will give a boost to the industrial sector in J&K, create employment and pave way for outside investments as well,” he said.
He said the package will act as a big relief to the existing industrialists and will cover the manufacturing units as well as the service sector as well that includes the Tourism and IT sector.
“This will give J&K’s economy a new boost and lead J&K UT towards growth and sustainable development,” LG Sinha said.
The LG also stated that the administration led by him was working a long and short term strategy for streamlining the power infrastructure in J&K.
“J&K has earned the first slot on road connectivity front and in the near future, every village will be connected through a better road. In 2023, people of J&K will travel in metro for the first time,” he said.
