Srinagar, Feb 16: In a significant development, Jammu and Kashmir is witnessing the biggest industrial revolution in the history of UT as private investment proposals worth Rs 66,000 crore have been received within a period of around one year. Apart from this, 1455 industrial units have already started their operations.

 

The existing industrial landscape is being transformed into a futuristic, profitable and sustainable ecosystem, leading to livelihood generation, better education, skill development and better quality of life.

 

Further, according to the administration's official statement, the New Industrial Development Scheme, with an outlay of Rs 28,400 crore, has been approved by the Government of India for encouraging investment in manufacturing and service sectors in J-K, which has started helping in stepping up economic development in Jammu and Kashmir.

 

From job creation to entrepreneurship, the government is going to make J-K a model of industry 4.0, the fourth industrial revolution. "Government is working tirelessly on promoting institutional readiness, increasing entrepreneurship and attracting investments. The multiplier effect of industrial transformation will be felt across the entire length and breadth of the UT," the statement said.

 

The people of the union territory can now fully enjoy the rights and benefits enjoyed by all other citizens of India rather than just a limited set of rights and benefits. "J-K is on a mission to renovate, reinvent, and ready to take a quantum leap to become the fastest-growing region in the country, pushing the targets for economic growth and employment," it further said.