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J&K receives investment proposals of Rs 86,000 crore: LG Sinha

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Pulwama: Lieutenant Governor Manoj Sinha on Sunday said the Union Territory has received investment proposals worth Rs 86,000 crore as the region has emerged as a favourite destination for investors in the country and abroad.

“Investment proposals to the tune of Rs 86,000 crore have come to the Industries and Commerce Department. People from within the country and outside are considering J&K as a favourite investment destination,” Sinha said while addressing a function at the Industrial Complex at Lassipora, 35 kilometres from Srinagar, according to an official press release.

Sinha, who inaugurated 12 controlled atmosphere (CA) stores here, said the government was working to ensure that these investment proposals are translated into tangible projects for the development and prosperity of the people of Jammu and Kashmir.

“We are working to bring these proposals to the ground level, but there can be no development without peace. While security forces will do their job, people will have to raise their voices against attempts to disrupt peace. Innocents will not be harmed or put to unease, but we will not spare the criminals,” he added.

Referring to the CA stores as a fruitful business option, Sinha said the 12 stores, which have been dedicated to the public, will prove to be a boon for the farmers.

He also informed that 44 CA stores having capacity of 1,85,843 MTs stand established in Kashmir and are already in production. The new CA stores will add 59,000 MTs to the existing capacity and will prove to be a boon to the farmers and fruit growers, he said, adding that these will give employment to 500 to 600 persons.

About 259 CA store projects are in pipeline, which is expected to employ 15,000 to 16,000 people.

These CA storage facilities will significantly extend the shelf-life of fresh produce and reduce post-harvest losses, the LG said.

This is just the beginning, there is room for more. The potential of horticulture is huge, and the possibilities are unlimited,” he said, adding that in the past six months, investment proposals worth Rs 1,250 crore have been received in this sector.

“The CA stores are a safe investment as they remain busy throughout the year,” he noted.

On the steps taken to promote agriculture in Jammu and Kashmir, Sinha said the country has recognised the power of agriculture and allied sectors in the Union Territory.

“Jammu and Kashmir administration has given priority to the welfare of farmers, not only the big farmers but even the 2.6 lakh marginal farmers,” he said.

He also said that efforts were on to bring the horticulture produce under the PM Fasal Bima Yojna.

“A portal has been set up to train farmers. We are also looking at the possibility of reducing the post-harvest losses. No state is getting as much incentive as PM Modi has given to J&K,” he added.

Vikramjit Singh, Commissioner Secretary Industries & Commerce department highlighted the efforts of the administration to promote industries and business activities in J&K.

In the presence of LG, a Memorandum of Understanding was signed between Central Public Works Department and SIDCO for development of six new industrial estates in the UT.

The LG Governor handed over certificates to the owners to CA stores and also released a compendium of Industries and Commerce Department.

Earlier, the LG visited the Koh-e-Noor CA Store and inspected the facilities at the 5,000 MT capacity store.

Vijay Kumar, ADGP Kashmir; Baldev Prakash, MD and CEO J&K Bank; Vijay Kumar Bidhuri, Divisional Commissioner Kashmir; senior officers of UT administration and officer bearers of Lassipora Industrial Estate and members of Chamber of Commerce were present.

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