To boost economy, J&K govt earmarks 937 acres of land for entrepreneurs

For boosting the economy and push for entrepreneurship, Jammu and Kashmir government has earmarked 937.5 acres of industrial land for new prospective entrepreneurs.

Director Industries and Commerce Department, Kashmir, Nazim Zai Khan, said that the department has acquired 937.5 acres of additional land for new entrepreneurs to boost industrial growth in the Valley.

Stating that more industrial estates will help boost the industries and generate employment opportunities in Kashmir, he said that they are currently building the infrastructure on the identified land so that industrial estates are ready for unitholders.

“Once the land is fully available with all the facilities, the allotment would be done to the new entrepreneurs,” he said.

Despite Kashmir offering vast opportunities in agriculture, horticulture, food, clothing, tourism, handicrafts, and other untapped resources, developing entrepreneurship remained a challenge for decades.

The land allotment is part of the Industrial development scheme which was approved by the Cabinet Committee on Economic Affairs early this year and will be implemented from April. The scheme (2021-2037) has an outlay of Rs 28,400 crore.

As per the plan document, it is expected to generate an investment of Rs.20,000 crore and employment of 4.5 lakh over the plan period.

Till 2020 there were only 439 industrial units in Kashmir spread over 115.5 acres and 415 units over 126.75 acres of land in Jammu. Khan said the department is also in the process of land retrieval of sick unitholders.

Currently, there is a pessimistic business environment in J&K and current entrepreneurship is in distress.