Srinagar, Nov 8 (KNN) The Jammu and Kashmir administration is aiming to establish 45 new industrial estates, including five private industrial zones by 2027, reported rising Kashmir.

As per reports, the J&K administration is hopeful of attracting investment opportunities worth Rs 30,000 crores. The move is expected to boost the industrial sector in the region.

“An investment of Rs 30,000 crores will be secured to invigorate the industrial sector, generating an additional Rs 1.90 lakh employment opportunities, and offering a land bank spanning 8,000 Kanals for the establishment of industries,” according to the recently released vision document by the Planning Development and Monitoring Department.

Furthermore, the vision document proposes the creation of three Special Economic Zones, three Handicraft & Handloom Clusters dedicated to specific crafts with export potential, and the establishment of three Model Craft Towns and Villages, which will focus on crafts indigenous to the region.

Additionally, it suggests the creation of two Raw Material Banks and the establishment of two Quality Testing and Certification labs for exports.

"Looking ahead to the period from 2032 to 2037, the document suggests an additional boost to the industrial output through the development of 10 new industrial estates and 4 private industrial areas/estates," it said.

The plan involves an additional investment of Rs 16, 000 crores to stimulate the industrial sector, potentially creating around 1.15 lakh employment opportunities.

Vikramjit Singh, Commissioner/Secretary to the Government, Industries & Commerce Department, expressed his enthusiasm for the comprehensive vision document, highlighting the vast industrial potential in the region.

“This comprehensive compendium stands as a testament to our relentless commitment to fostering a robust and thriving industrial landscape in our region. I believe this resource will not only serve as a guiding light for aspiring entrepreneurs and investors but will also underscore our steadfast dedication," he said.

(KNN Bureau)