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J & K identifies thrust areas, gets Rs 3 billion investment

The Jammu and Kashmir government has identified thrust areas -- food processing, agro-based industries, hotels, textiles and infrastructure - which have brought in investment worth Rs 3 billion, said state's Industries and Commerce Additional Chief Secretary Mohammed Shafi Pandit.

Addressing a meeting at the Indian Merchants Chamber in Bombay yesterday, Pandit said his government has accepted five proposals from Maharashtra mainly in the food processing sector.

Pandit lead a high-level delegation to Maharashtra, which said the response from the representatives of leading financial institutions in Bombay and other parts of the country was good and was hopeful of getting the required capital support for various development activities.

He also stated that his government has allocated Rs 1 billion for industrial and infrastructure development.

Pandit said his state had just emerged from a traumatic phase which saw tremendous destruction to life and property. He expressed satisfaction that after a decade-long turmoil, the state was inching back to normalcy.

Giving details of Kashmir's investment plans, Pandit said the state had received proposals for investment in the hotel industry worth Rs 350 million.

He also informed that the state government has tied up with a foreign collaborator in apple processing based on German technology in which apple pomace is re-cycled as fuel to be used in generation of energy.

Pandit said the state government is committed to creating an atmosphere which is conducive to industry.

He also informed that the government has given a go-ahead to two industrial growth centres at Samba and Lasipora, two export promotion parks, a food-based industry park and a software technology park.

UNI