JK govt approves policy for promotion of foreign investment in industrial sector in JK
Jammu Feb 23 PTI The administrative council AC of the Jammu and Kashmir government on Wednesday approved the policy for the promotion of foreign investment in the industrial sector based on the guiding framework on FDI in the Union territory AC which met here under the chairmanship of Lieutenant Governor Manoj Sinha on Wednesday approved the Policy for Promotion of Foreign Investment in the industrial sector in Jammu and Kashmir 2022 according to an official spokesman Farooq Khan and Rajeev Rai Bhatnagar advisors to the lieutenant governor Arun Kumar Mehta chief secretary JK and Nitishwar Kumar principal secretary to the lieutenant governor attended the meeting The new policy is based on the guiding framework on FDI issued by the Government of India through the RBI and DPIIT and will be valid for the next 10 years he said It aims to facilitate large foreign investments greater than Rs 100 crore with a minimum of 51 per cent foreign stakes the spokesman said The policy also provides for identifying parcels of land in various industrial estates to be given exclusively to industries with foreign investments including vertical rise premises in the form of multi-purpose buildings and complexes with plug and play facilities he said The land allotment process will be regulated by the JK Industrial Land Allotment Policy 2021-30 while such units will also be eligible for benefits incentives and support under the Jammu and Kashmir Industrial Policy 2021-30 and new central sector scheme for the industrial development of Jammu and Kashmir he said For optimal utilisation of land resources and to provide integrated services to multiple players the policy also envisages the establishment of multipurpose complexes for foreign investment by developing IT tower projects through private players in Sempora Pampore and Exhibition Ground Jammu the spokesman said These towers will house different business activities and will form part of the Industrial Complex for Foreign Investment he said PTI AB HRS hrs
Jammu Feb 23 PTI The administrative council AC of the Jammu and Kashmir government on Wednesday approved the policy for the promotion of foreign investment in the industrial sector based on the guiding framework on FDI in the Union territory AC which met here under the chairmanship of Lieutenant Governor Manoj Sinha on Wednesday approved the Policy for Promotion of Foreign Investment in the industrial sector in Jammu and Kashmir 2022 according to an official spokesman Farooq Khan and Rajeev Rai Bhatnagar advisors to the lieutenant governor Arun Kumar Mehta chief secretary JK and Nitishwar Kumar principal secretary to the lieutenant governor attended the meeting The new policy is based on the guiding framework on FDI issued by the Government of India through the RBI and DPIIT and will be valid for the next 10 years he said It aims to facilitate large foreign investments greater than Rs 100 crore with a minimum of 51 per cent foreign stakes the spokesman said The policy also provides for identifying parcels of land in various industrial estates to be given exclusively to industries with foreign investments including vertical rise premises in the form of multi-purpose buildings and complexes with plug and play facilities he said The land allotment process will be regulated by the JK Industrial Land Allotment Policy 2021-30 while such units will also be eligible for benefits incentives and support under the Jammu and Kashmir Industrial Policy 2021-30 and new central sector scheme for the industrial development of Jammu and Kashmir he said For optimal utilisation of land resources and to provide integrated services to multiple players the policy also envisages the establishment of multipurpose complexes for foreign investment by developing IT tower projects through private players in Sempora Pampore and Exhibition Ground Jammu the spokesman said These towers will house different business activities and will form part of the Industrial Complex for Foreign Investment he said PTI AB HRS hrs
