J&K Administration Begins Creation Of  Land Banks  For Setting Up Industrial Units In Union TerritoryJ&K LG GC Murmu (Pic Via PTI)

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.

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