Associations in Jammu urge Govt to procure materials from local MSMEs for investment projects worth Rs 18,300 cr

Jammu, 28 Dec (KNN) The Union territory of Jammu & Kashmir has signed MoUs worth INR 18,300 crore during its first Real Estate Summit in the sectors including residential, Commercial, hospitality, infrastructure and film and entertainment and finance.

Lalit Mahajan, Co-Chairman of FOIJ & President of Bari Brahmana Industries Association has hailed the government the development under governorship of Manoj Sinha.

However they have appealed to the Governor and Ranjan Prakash Thakur (IRTS) Principal Secretary, Industries & Commerce Department with a request that first preference shall be given by the prospective Investors to purchase the requisite materials from the local MSME units engaged in the manufacturing of quality products.

There has been massive investment in Real Estates and other Sectors, the Local Industrial Units engaged in the manufacturing of Steel/Cement/Plaster of Paris and other Items will get business from the Investors, said the press release.

It will also help for the creation of Job Opportunities for the local youths & also help in the utilization of thousands of Kanal Barren Land in which no cultivation is possible, said the association.

They have also noted that investment in the Industrial Sector, requirement of accommodation for the Staff of upcoming Industrial Units will be taken place in near future and it will be a win -win situation for them as they may prefer to purchase the Flats in their name and pay the Installment by utilizing the Budget of Rent amount to clear the Bank finance.

It will also provide benefits to those who are planning to buy the Flats in the neighbouring States as they will get the benefits of Prime Minister Awas Yojana.