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J&K needs investment, expertise to accelerate economic growth: L-G Sinha

Manoj Sinha. File   | Photo Credit: PTI

Days after new land laws for J&K had been introduced, top industry heads and educational institutes participated in a day-long workshop, “Youth Engagement and Outreach” here on Saturday, as the administration opened up four sectors in the first phase to outside investments and handholding.

Representatives of Ashok Leyland, ICICI Foundation, Bombay Stock Exchange, Indian Institutes of Managements (IIMs), IITs and policy analysts participated in the workshop.

Lt. Governor Manoj Sinha, addressing the workshop, asked the industrial leaders “to partner J&K in formulating and implementing the programme successfully on ground”.

“We have so much to offer and there is a lot that I expect this group to contribute for accelerated economic growth,” L-G Sinha said.

He said the J&K administration was aiming at building a robust infrastructure for youth in six identified focus areas.

“We need both your investment and expertise to achieve this. You are all welcome to J&K for an unprecedented revolution with public participation. The four sectors in which we are focussing our energies in J&K are Industry and Services, Technology and Innovation, Infrastructure, Agriculture and Allied Sector,” the L-G said.

According to the official figures, the J&K unemployment rate is 25% which is almost double the national rate of 13.8. Almost 65% of the population is under the age of 35 years.

“To fix the lag, we have before us ‘Mission 2025’ under which we have to bring opportunities to 80% of our J&K youth. We’re open for business and committed to build a strong and sustainable partnership,” he said.

The Lt. Governor said the valuable contribution and investment made today will give dignity to the youth, restore their pride and will make J&K truly a piece of art in the country’s economy.

Ashok Leyland proposed establishment of rural schools where dropouts could be admitted to learn skills.

6,000 acres opened up for investment

According to the J&K Industries and Commerce department, a land bank of 6,000 acres or close to 48,000 kanals have been earmarked in the Union Territory for creation of industrial estates and expansion and upgradation of existing estates to attract and ground investments.

“75 MoUs have been executed with various prospective investors in different fields like hospitals, industry, education, food processing etc. by the department of industries,” an official spokesman said.

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Printable version | Dec 5, 2020 9:09:00 AM | https://www.thehindu.com/news/national/jk-needs-investment-expertise-to-accelerate-economic-growth-l-g-sinha/article32992969.ece

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