Centre approves Rs28,400 crore industrial developmental scheme to boost J&K economy

Lieutenant governor Manoj Sinha on Thursday said the Centre has approved a Rs28,400 crore industrial developmental scheme for Jammu & Kashmir to boost the region’s economy and provide employment opportunities in both manufacturing and service sectors. He said the opportunities will lead to socio-economic development, skill, and sustainable development. Sinha added it will provide major support to local industry and thanked Prime Minister Narendra Modi for approving the scheme.

“The new industrial development scheme will boost domestic manufacturing and help Jammu & Kashmir in becoming self-reliant. The scheme will encourage new investment, substantial expansion, and also nurture the existing industries.”

Sinha said the scheme will be friendly and hassle-free for the investors. “It will be ensured that entrepreneurs from within Jammu & Kashmir and outside find a smooth and progressive ecosystem for their business plans,” he said. “With our transparent policies, investments in developing infrastructure, market-oriented policy environment, and skilled human capital, we aspire to become a growth pillar for India in the current decade.”

Sinha said the government and the industry will work closely to achieve the vision of holistic and balanced development.

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