The potential for private investment in J&K is high PROVIDED politicians and bureaucrats clean up their act and ensure transparency and good governance
State can be hub for investors: Report
Jammu, April 6: The state, which has the potential to attract Rs 27,800 crore of investment in the next five years, could become a hub for investors. Thus, it will be able to export Rs 13,000 crore worth of goods and create around 25 lakh new job opportunities in the state.
This has been stated in a report titled “Jammu and Kashmir striving for industrial revolution” released by the associated chambers of commerce and industry of India (ASSOCHAM). The report which was released by ASSOCHAM president Venugopal N. Dhoot in Jammu today said the state had a vast potential for agro-based and bio-technical units.
Speaking to The Tribune on the sidelines of the report releasing function Venugopal said, “The most promising areas in which the state can attract investment from outside include food processing – agro-based industries, floriculture, handicrafts, leather processing and leather goods.”
He added, “Besides, sports, forest-based industries, processing of aromatic plants, herbs, bulk drugs, hosiery units can be established in the state.”
He said Chief Minister Ghulam Nabi Azad had extended a helping hand to bring in investment in the state.
“We have requested Prime Minister Manmohan Singh to extend an extra package of Rs 5,000 crore for raising the infrastructure for investments in the state,” Dhoot said.
The report also stated that the state had immense opportunities in hydropower generation, handloom and handicraft exports, gems and jewellery and development of tourism.