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Kashmir lagging behind Jammu in investments

Kashmir continues to lag behind Jammu region in terms of receiving outside industrial investments, getting just Rs 3 crore of such investments as against Rs 938.65 crore by Jammu till now.



Jammu: Kashmir continues to lag behind Jammu region in terms of receiving outside industrial investments, getting just Rs 3 crore of such investments as against Rs 938.65 crore by Jammu till now.

According to statistics released by the state Industries and Commerce ministry, of the total industrial sector investments of Rs 3514.05 in the state (right from inception till now), Jammu has a total investment of Rs 2235.29 crore.

This is compared to Kashmir which has received a total investment of only Rs 1278.76 crore during the review period, it said.

While Jammu received Rs 1296.64 crore as local investment and Rs 938.65 crore in the form of non-local investment in the industrial sector, Kashmir got Rs 1275.76 crore and Rs 3 crore as local and non-local investments, respectively.

The industrial sector provides employment to 63,201 youth in Jammu and Kashmir, of which 48,003 are locals and 15,198 non-locals, the data said.

As per the figures, as many as 29,251 people work in various industrial units in Jammu regions, with locals accounting for 22,373 workers, while 33,950 work in such units in Kashmir, employing 25,630 local workers.

Central government is providing special package for attracting investment in Jammu and Kashmir. It provides 30 percent subsidy on capital investment on plant & machinery upto a maximum of Rs 3 crore per unit for manufacturing activities and Rs 1.50 crore for service sector.

There is also 3 percent interest subsidy on working capital, 100 percent insurance cover to industrial units and 90 percent transport subsidy, among other incentives.

The state government also provides sops for industrial units.

PTI

From Zee News

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