In a major bid to attract investors to set up businesses and industries in the newly created Union Territory (UT) of Jammu and Kashmir (J&K), the UT administration headed by Lieutenant Governor (LG) GC Murmu has initiated the creation of two land banks for industrial units, reports Indian Express.
“We are looking at the creation of land banks to the tune of over 5,000 kanals (approximately 624 acres) in both regions (Jammu and Kashmir). We have identified and are identifying land that can be used to set up industrial units,” J&K State Industrial Development Corporation (SIDCO) managing director Ravinder Kumar was quoted in the report as saying.
The move would create economic and employment opportunities for the residents of J&K.
Even though the work is presently in its initial stages, the administration has already directed the officials to identify more land to create a land bank as big as possible.
Once completed, the establishment of land banks would greatly ease the woes businesses and industries face in setting up units, while also providing them a conducive environment to operate and generate value.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.