J&K is emerging as a vibrant, fastest growing and most attractive investment destination and renowned companies from across the country and abroad are looking forward to investing in the Union Territory.The Centre introduced a New Central Sector Scheme for Industrial Development of the Union Territory of Jammu & Kashmir post Article 370 repeal to bolster industrial growth
Policies like the J&K Industrial Policy 2021-30, J&K Industrial Land Allotment Policy 2021-30, J&K Private Industrial Estate Development Policy 2021-30, and J&K Wool Processing, Handicrafts, and Handloom Policy 2020 have been officially notified.
Calcutta Chamber of Commerce hosted a Special Session on the “Scope of Industry in Jammu & Kashmir,” bringing together esteemed guests, business leaders, and government officials. The event aimed to discuss the burgeoning opportunities and potential for industrial growth in the region. The Chamber extended a warm welcome to Shri Manoj Sinha, Hon’ble Lieutenant Governor of Jammu and Kashmir, who graced the occasion as the Chief Guest. Shri Vikramjit Singh, Commissioner/Secretary to Govt., Industries & Commerce Department of Jammu and Kashmir, was also warmly welcomed.
The recently announced industrial policy of J&K, with its “minimum regulation and maximum facilitation” approach, garnered significant interest and investments, particularly in IT, Healthcare, Pharmaceuticals, Agriculture, Food Processing, Education, and Skill Development. Tourism and Handicrafts were acknowledged as key contributors to the state’s unique appeal, with diverse landscapes, scenic beauty, cultural richness, and renowned craftsmanship skills. The Chamber expressed confidence in Jammu & Kashmir as the preferred destination for investment, citing major strides in sectors such as MSMEs, Information Technology, food processing, horticulture, and agro-industries.
Addressing the need to accelerate industrialization in the state, the Chamber hoped for industry-friendly steps from the Government of Jammu & Kashmir, aiming to alleviate impediments and foster a conducive environment for growth. Lieutenant Governor Manoj Sinha said, “Under the leadership of PM Narendra Modi Ji, vigorous growth in all the sectors of the economy is our mission. We are committed to utilizing abundant resources to foster industrial competitiveness and promote collaboration.” Assuring the industry leaders present in the event, J-K LG said, “J-K UT now adheres to the norm of red carpet and not red tape to ensure safety and growth of investment, ease of doing business, ease of living and a robust govt to business interface for long-term future for investments in different sectors.”
He further stated that a comprehensive approach through a new industrial scheme is aimed at creating a conducive and dynamic environment for growth in Agriculture, Health, Manufacturing, Tourism and Hospitality, Education, Skill development, Handicraft and IT sectors in Jammu and Kashmir. He also said that digitalization is one of the Govt’s top priorities to build e- society and ensure long-term prosperity. “Research and Development is another key area with a focus on making J-K one of the country’s most dynamic R-D locations and strengthening the link between Industry and Academia,” he added. LG Manoj Sinha also invited the business leaders to invest in Jammu and Kashmir stating that they would find a better atmosphere for investment opportunities there as compared to West Bengal. “I can say that you will find a better atmosphere in J-K compared to West Bengal. I invite you to come there, and you will also say the same thing,” he said The event featured insightful remarks from Shri R. K. Chhajer, Former President & Chairman, Committee on Industry, MSME, and Trade & Commerce, Calcutta Chamber of Commerce, who moderated the session.
