March 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
J&K readying for investments to spur growth

Jammu and Kashmir is no longer ...

By Sharon Thambala & Fakir Balaji
  • Mr K.K. Sharma

Jammu and Kashmir is no longer what it was for decades, and is changing and readying itself for investments to spur growth and development, a top official has said. “The overall situation in J&K has changed after August 5, 2019. Things are getting better. As a new Union Territory (UT), we are rolling out a red carpet for investors from across the country to join us in spurring growth and development there, J&K Lieutenant Governor’s Adviser K.K. Sharma told IANS in an interview here.

With the abrogation of Articles 370 and 35A of the Constitution and splitting the former northern border state into UTs of Jammu and Kashmir as well as Ladakh on August 5, 2019 through an Act of Parliament, the central government has opened up the erstwhile strife-torn state for outside investments in diverse sectors to tap growth opportunities and create jobs for thousands.

“Normalcy is being restored across the UT to create favourable atmosphere for investments in 14 sectors, through incentives, tax reliefs, duty exemptions and single-window clearance for ease-of-doing-business by anyone from any state,” asserted Sharma after a roadshow on Monday for the upcoming J&K Investors Meet in Srinagar and Jammu in May.