Rs 14,948 crore private investment in J&K since FY23: Govt

Jammu, Feb 09: Deputy Chief Minister Surinder Kumar Choudhary on Monday said Jammu and Kashmir has attracted private investments worth Rs 14,948 crore in past four years, generating employment for 64,515 people in the industrial sector.
Replying to a question by BJP MLA Sunil Bhardwaj in the Legislative Assembly, the Deputy Chief Minister also said said 1,452 industrial units have been set up in Jammu and Kashmir since 2022-23.
Giving details, he said 629 industrial units were established in 2022-23 with an investment of Rs 2,153.45 crore, generating employment for 15,719 people. In 2023-24, 234 units attracted Rs 3,389.37 crore investment and generated 29,969 jobs, while 405 units in 2024-25 brought in Rs 4,145.59 crore investment, creating 11,396 jobs.
He said that during 2025-26 till December, 184 industrial units attracted Rs 5,260 crore investment and generated employment for 7,431 persons.
Choudhary said that the government has formulated multiple policies and schemes to attract private investments in the Union Territory.
He said Department of Industries and Commerce is implementing several initiatives including the new central sector scheme (NCSS), 2021, J&K industrial policy 2021-30, J&K industrial land allotment policy 2021-30, J&K private industrial estate development policy 2021-30, and the policy for promotion of foreign investment in industrial sector in J&K, 2022.
Choudhary said the NCSS, 2021, notified by Government of India for industrial development of Jammu and Kashmir, remained operational from April 1, 2021, to September 30, 2024, to encourage new investments.
He said that various incentives were being provided under these schemes, including 100 per cent subsidy for purchase and installation of DG sets ranging from 10 KW to 2000 KW, subsidy on automation, pollution control devices, and green environment initiatives.
He added that turnover incentives were also being provided for existing units along with subsidy for obtaining quality certification and exemption of stamp duty and court fees for units undertaking substantial expansion.
Choudhary further said the government is taking coordinated steps to address investor concerns and create a stable and business-friendly industrial ecosystem in Jammu and Kashmir.
He said industrial estates are being upgraded with better roads, drainage, water supply, power infrastructure and common facilities, while new estates are also being developed to strengthen industrial infrastructure.
“Infrastructure development is being carried out in coordination with various executing agencies, including the power development department and Jal shakti department, to ensure last-mile connectivity and reliable services”. the Deputy Chief Minister said.
He noted that building bye-laws have been rationalised to allow higher floor area ratio (FAR), flexible ground coverage and removal of minimum plot size conditions to optimise land use.
He also said that the government has introduced time-bound utility connections and a single online application system through the single window clearance system.
“Reforms such as online approvals, one-day shop registration, labour law rationalisation and decriminalisation of minor offences have also been implemented to reduce compliance burden and improve investor confidence”, he added.