J&K admn approves policy for promotion of foreign investment in industrial sector - Hindustan Times
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J&K admn approves policy for promotion of foreign investment in industrial sector

ByHT Correspondent, Jammu
Feb 24, 2022 01:09 AM IST

The administrative council (AC) which met on Wednesday under the chairmanship of the lieutenant governor, Manoj Sinha approved the policy for promotion of foreign investment in the industrial sector of J&K

The administrative council (AC) which met on Wednesday under the chairmanship of the lieutenant governor, Manoj Sinha approved the policy for promotion of foreign investment in the industrial sector of Jammu and Kashmir.

The administrative council met on Wednesday under the chairmanship of the lieutenant governor, Manoj Sinha
The administrative council met on Wednesday under the chairmanship of the lieutenant governor, Manoj Sinha

The new policy is based on the guiding framework on FDI issued by the government of India, through the RBI and DPIIT, and will be valid for the next 10 years. It aims to facilitate large foreign investments greater than 100 crore with a minimum of 51% foreign stakes.

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The policy also provides for identifying parcels of land in various industrial estates to be given exclusively to industries with foreign investments, including vertical rise premises in the form of multi-purpose buildings/complexes, with plug and play facilities.

The land allotment process will be regulated by the J&K Industrial Land Allotment Policy, 2021-30, whilst, such units will also be eligible for benefits, incentives, and support under the Jammu and Kashmir Industrial Policy 2021-30 and new central sector scheme for the industrial development of Jammu and Kashmir.

For optimal utilisation of land resources and to provide integrated services to multiple players, the policy also envisages the establishment of multipurpose complexes for foreign investment by developing IT tower projects through private players in Sempora, Pampore and Exhibition Ground, Jammu. These towers will hous

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