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J&K woos investors with ample land
Why is it in the news?
- The Jammu and Kashmir administration is wooing investors by opening up a 6,000-acre land bank for setting up multiple centres.
- These include multiplexes, processing units, food parks, film production centres, schools, information technology parks and medical complexes.
More in the news
- This is for the first time since 1947, the administration has started a major exercise to convince investors across the country to buy land and invest in the Union Territory.
- Interested investors are expected to participate in the J&K Global Investors Summit-2020 in Srinagar and Jammu in March.
- Significance of the move:
(1) As per the Chief secretary, the summit will prove a determining factor in ushering Jammu and Kashmir into an industrial hub.
(2) It will not only help to present businessfriendly policies but also harmonise Jammu and Kashmir’s intrinsic strengths and aspirations of development and employment opportunities.
- According to the Department of Industries and Commerce:
(1) There were only 439 industrial units in the Kashmir Valley spread over 115.5 acres and 415 units over 126.75 acres in Jammu.
(2) About 1,250 acres of land is being acquired under 18 land acquisition cases to develop industrial estates across J&K.
- Focus on Key sectors:
(1) The J&K administration has centred its campaign to woo investment on six key sectors, including healthcare, tourism, IT, food processing, education and skill development and industries.
Source
The Hindu.