The UT of Jammu and Kashmir has received an investment of Rs 1547.87 crores until January 2023, which is still the highest in any one year. The administration is well aware of the problems, worked out solutions to these problems, and came out with the Jammu and Kashmir Industrial Policy 2021-30, the Private Estate Development Policy 2021-30, and the Jammu and Kashmir Wool Processing, Handicrafts, and Handloom Policy 2020. Jammu and Kashmir has received investment proposals worth approximately 64 thousand crores, involving a land bank of 47,092 kanals and the potential for three lakh jobs, in just 22 months. More than 500 start-ups have come up, but still, a lot has to be done. The administration’s efforts to give a flip to the investments have paid off; a mega mall with 500 shops and the potential to generate more than 10,000 jobs is coming up. It is a significant achievement in the sense that it is the first mega-investment with a UAE-based group assuring to bring brands from abroad to invest in this mall itself when it is completed. A deadlock has been broken, undue apprehensions have been removed, and this investment has opened up the gates of proposals. The thousands of proposals that have already been submitted will result in large investments right away. The recent delegation of industrialists from the UAE and India saw the potential of hospitality, education, and real estate. They are ready to invest now in a big way. Multiple projects in hotels, hospitals, and education are in the final stages. Every region has its positives, which have to be highlighted and properly used; Kashmir has a nick for hospitality; as such, the focus must be on hospitality sector projects. Similarly, horticulture, floriculture, and cinema-related industries must be pursued, as they will be the game-changing investments of the future. The administration is making every effort to promote Jammu and Kashmir, with LG himself leading the way, visiting other states and countries to get big investments. All the official efforts have started getting positive results now. Cinema halls have opened; an open theatre at Dal; movie shootings at different locations; and infrastructure development work are all being done at the same time to set things right.
UT is already short of industrial land, and with so many proposals pending for the allocation of land, the administration must devise some policy to get back the inoperative units. All said and done, major steps have been taken, the train of industrialization is picking up momentum, and with this kind of focus and intent, the right impetus has been given.
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