Rs. 28K-crore package for industries in J&K announced

Jammu and Kashmir Lieutenant Governor Manoj Sinha announced an Rs 28,400-crore Industrial Development Package-2021 to attract Rs 20,000 crore investments and create 4.5 lakh jobs in the Union Territory.

“The Union cabinet sanctioned the package on January 6… It will remain in force for 17 years,” he said.

The package comes as a big relief for industrialists and will cover the manufacturing and the services sectors, mainly tourism and IT. New entrepreneurs will get investment incentives in terms of low-interest capital.

“This is a historic industrial package. It will give J&K’s economy a new boost and lead the UT towards growth and sustainable development,” Sinha said, adding that the administration is working on drawing up a long- and short-term strategy for streamlining power infrastructure.

J&K has earned the first slot on road connectivity, Sinha said, adding, “In 2023, people of J&K will travel in metro for the first time.”