Jammu, Nov 04: Jammu and Kashmir government has received investment proposals worth Rs 1700 crore for setting up medium and small scale industries in the state, Deputy Chief Minister Mangat Ram Sharma said. "We have so far received 144 proposals amounting to Rs 1700 crore for setting up medium and small scale industries to speed up industrial development in the state, Sharma told a meeting of state government officials here yesterday.

The projects, which are in the pipeline, envisage generating employment for over 15000 educated youth, he said. Over 124 proposals with an investment of Rs 990 crore for setting up food processing and polyester yarn units among others were currently under examination with the Union Ministry of Commerce and Industries, Sharma said.

To ensure timely clearance of the proposals, the government has introduced a single window system. Principal secretary, industries department, has been designated as the nodal officer to clear the projects, he said. The State Industries Development Corporation (SIDCO) has been made the nodal agency for providing term loans, working capital and infrastructural facilities.

Sharma said the government laid emphasis on revival of sick units and an attractive package was being offered to them.

Bureau Report