JAMMU: Jammu and Kashmir Lt Governor Manoj Sinha on Friday said progressive reforms for ease of doing business and low crime rates are among the factors that have made the Union Territory the preferred destination for investment.
Addressing the inaugural ceremony of the industrial unit of Bloomtex Industries Pvt Ltd here, he said Rs 14,000 crore worth investments are being implemented on the ground.
Directors and office bearers of Bloomtex Industries Pvt Ltd and industrialists from different parts of the country attended the function.
Highlighting the investments received in both Jammu and Kashmir divisions in the industrial sector, he said more than Rs 90,000 crore investment proposals were received in the last few years and Rs 14,000 crore worth investments are being implemented on the ground.
“Progressive reforms for ease of doing business, revolutionary new industrial development scheme, transparent land allotment policy, best Incentives, return on investment (ROI), affordable electricity for units and low crime rate have made J&K the preferred destination for the investors,” the Lt Governor said.
Sinha reiterated the commitment of his administration to provide a vibrant environment for the growth of the industrial sector in Jammu and Kashmir.
He said the compliance burden has been reduced to facilitate the ease of doing business.
“Today we can fulfil the 70 per cent land need of the industries. Earlier, availability of land was an issue, but now we are making dedicated efforts to reduce the land deficit,” Sinha said. (PTI)