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FOSTERING GROWTH IN J&K

YB WEB DESK. Dated: 1/10/2024 12:28:09 PM

In a significant stride towards economic development, government officials recently chaired the eighth Investor Facilitation Meet organized by the Jammu & Kashmir Trade Promotion Organization (JKTPO). This meeting which took place in both divisions of Jammu and Kashmir, aimed to address the concerns and challenges faced by industries that have already been allotted land by the government. Since March 2023, these Investor Facilitation Meets have served as crucial platforms for fostering dialogue between the government and industrial stakeholders. The most recent meet focused on engaging with industries that have been allocated land, with the overarching goal of understanding their unique challenges and collaboratively devising effective solutions to expedite the commencement of operations. It is worth noting that a total of 169 units, with a substantial investment of Rs. 7,096 crore, have been allotted land across different industrial estates in Jammu and Kashmir. These units are currently at various stages of setting up their operations, and the government is keen on ensuring a seamless and efficient process. The primary objective of such facilitation meets is to create an environment conducive to business growth. By actively engaging with industry representatives, the government can gain valuable insights into the hurdles faced by these units and work towards resolving them. This collaborative approach not only streamlines bureaucratic processes but also builds a foundation for sustained economic progress. The government's commitment to addressing concerns raised by investors underscores its dedication to fostering a business-friendly environment. Such initiatives play a pivotal role in instilling confidence among both domestic and international investors, showcasing the region's potential for economic growth and development. During the meet, government officials demonstrated a keen interest in understanding the challenges faced by the industries, ranging from regulatory hurdles to infrastructural requirements. The emphasis on a collaborative approach is commendable, as it signifies a departure from traditional top-down decision-making to a more inclusive and participatory model. In addition to resolving challenges, these facilitation meets also provide a platform for sharing success stories and best practices among industry players.