What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
The Kashmir Division now hosts 44 CA stores, collectively offering a storage capacity of 185,843 MTs
SRINAGAR: Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha, inaugurated a dozen state-of-the-art Controlled Atmosphere (CA) stores at the Industrial Growth Centre (IGC) located in Lassi Pora, Pulwama.
These CA store projects, backed by a substantial investment of approximately Rs. 368.35 crore, not only promise employment opportunities for 511 people but also boast a combined storage capacity of 59,000 metric tonnes (MTs). In addition to this remarkable development, the Kashmir Division now hosts 44 CA stores, collectively offering a storage capacity of 185,843 MTs.
This substantial investment of Rs 887 crore has led to the creation of employment opportunities for more than 1,330 people. These new projects are set to elevate the total storage capacity to approximately 1.2 million MTs, effectively addressing a critical gap in this vital sector.
During his address, Sinha commended the ongoing efforts of the Industries and Commerce Department. He expressed optimism that the region’s growth trajectory would continue, with plans on the horizon to generate additional employment opportunities and attract further investments for the betterment of Jammu and Kashmir.
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The introduction of the New Central Sector Scheme, with an outlay of Rs. 28,400 crores, has significantly boosted investment promotion across multiple sectors. These schemes offer best-in-class incentives with an ROI of up to 400 per cent, the highest in India. The nearest contender is Assam, offering a return of 210 per cent.
Moreover, during the event, Sinha also unveiled a compendium by the Department of Industries and Commerce, highlighting the significant milestones and achievements of the department since 2019.
This compendium provides an insightful overview of the Union Territory’s industrial growth and achievements over this period. Some of the major achievements detailed in the compendium include:
– Jammu and Kashmir has attracted investments worth Rs 2,153.45 crore during the 2022-23 financial year, the highest in the last decade, generating employment for 1 lakh individuals.
– In the current financial year up to September 30, the UT has attracted Rs 1,751 crore in investments, with Rs 1,286 crore being realised in the Kashmir region alone, which is three times the investment realised in the Jammu region.
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– Furthermore, 169 units, with an investment worth Rs 7,096 crore and providing employment for 21,076 individuals, have initiated infrastructure works and are set to commence production shortly.
– The Prime Minister’s Employment Generation Programme (PMEGP) has witnessed a remarkable 336 per cent increase since 2019 in terms of unit registration and employment, with a margin money release of Rs 23,949 crore to 27,410 units.
– After the introduction of the New Industrial Policy in 2021, the average investment in Industrial Estates rose to Rs 2.24 crore per kanal (based on land premium received), compared to the pre-2021 period when it was merely Rs 0.24 crore per kanal, marking an increase of over nine times.
The Jammu and Kashmir government also signed a Memorandum of Understanding (MoU) with the Central Public Works Department (CPWD) for the development of six new industrial estates. These estates, given top priority, will span 1,791 kanals and have an estimated cost of Rs 253.70 crores. Additionally, the Industries and Commerce Department is in the process of acquiring 26,815 kanals of land for the establishment of additional industrial estates.
