The Government of India has promised all the needed support to the newly-formed Jammu & Kashmir state after the Article 370 revocation.
Home Minister Amit Shah and Finance Minister Nirmala Sitharaman held discussions with the sector-wise stakeholders of the state on March 17, 2020.
In the meeting, the leaders have reportedly promised investment-driving opportunities to J&K UT in the coming days.
As the sources say, the government is willing to offer 15,000 acres of its land in J&K regions to the industrialists to set up facilities for boosting employment and economy.
This meeting was held upon the request of industry associations and business chambers of the region.
This decision is coming ahead of the domicile policy for UT and falls under government’s commitment to bring more investment to J&K by 2024.
The government had promised J&K of bringing three times more investment than what it drew over the last 70 years.
“While this will limit transfer of ownership of private land, industrial/corporate houses will automatically be exempt from the domicile condition in case they wish to purchase private land for setting up a unit,” reads a statement by an official.
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