Of Rs 84,544 Crore Proposals, Only 3% of Investments Actualised in J&K Since 2021

New Delhi: The Union government had used the argument that Article 370 was hindering the development of Jammu and Kashmir, and that abrogating the region's special status would bring in a flurry of investments. However, the Indian Express has reported, reality looks a little different.

Since the new industrial policy was brought in in 2021, the newspaper reports, J&K has received proposals worth Rs 84,544 crore in as many as 42 industrial sectors. But most of these proposals have not translated into actual investments. "Till date, 414 units (266 in Jammu and 148 in Kashmir) have been registered with actual investment received on ground standing at just over Rs 2,518 crore," the newspaper reported. That means only 3% of the investments were a

More than half the investments – almost 60% – in terms of value are for Jammu, and the rest for Kashmir. "However, in terms of the number of proposals, only 1,551 or 25 per cent of the total 6,117 are for Jammu. The balance 4,566 proposals are for Kashmir and entail an investment of Rs 34,006 crore," the Indian Express reported.

Investments in the hospitality sector have been smaller than expected, the newspaper stated. “In this sector, provision of land at appropriate location is a requirement of the industry. A hotel needs a view. Things have not moved at desired pace on this front. There is a perennial paucity of rooms in the valley,” an official told the newspaper.

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