The Ministry of Home Affairs informed the Rajya Sabha on April 5 that no Indian company including multinationals had invested in Ladakh in the past three years, and no land had been bought from people outside the Union Territory during the same period.
Minister of State for Home Nityanand Rai said in a written reply, that 185 persons from outside the Union Territory of Jammu and Kashmir had bought land in the UT during the years 2020, 2021 and 2022, and a total of 1,559 Indian companies, including multinational companies, had made investments in the UT.
Giving details, the Minister said that in 2020-21, 2021-22 and 2022-23, the number of entities that invested in J&K stood at 310, 175 and 1,074, respectively.
The reply added that while in 2020, only one individual had purchased land in J&K; in 2021 and 2022, the number stood at 57 and 127, respectively.
The special status of the former State of J&K was revoked by the Parliament on August 5, 2019, and it bifurcated into two Union Territories— J&K and Ladakh, the latter without a Legislative Assembly.
