| JK at bottom of private investment in industrial sector | | Security concerns, red tape keep investors at bay | | early times report
Jammu, Jan 28: Despite an improved security scenario in the state, Jammu and Kashmir continues to be at the bottom of private and Government investment in the industrial sector when compared to other states. Reports indicate that during the last one year Gujarat has registered an investment of over Rs.49,000 crores followed by Andhra Pradesh with Rs.10,000 crores, Mahara-shtra Rs. 7,000 crores and Punjab over Rs.1100 crores.
Against this, Jammu and Kashmir has registered an investment of about Rs.940 crores. Reports said that security related issues in the light of militancy related violence have been the main reason for very poor investment in the Kashmir valley.
Besides security related issues, red tape and corrupt practices adopted by the departments connected with sanctioning of the projects, giving various clearance certificates and other difficulties being faced by the non-local industrialists too had been the major cause for slump in private investment in the industrial sector.
There are reports that the touts incorporation has been hyper active in the state, which has been assisting private investors to get their projects established in the state, in exchange for huge commissions, which are passed on to the officers of concerned departments. The unholy nexus between these touts and black sheep in the concerned departments has also discouraged the potential investors to great extent.
The valley could register only Rs. three crore worth investment because a large number of industrialists from outside were not interested in setting up their units in Kashmir because of militancy related violence.
And the result of unstable security scenario is that Kashmir continues to lag behind Jammu region in terms of receiving outside industrial investments, getting just Rs 3 crore of such investments as against Rs 938.65 crore by Jammu till now.
According to statistics released by the State Industries and Commerce Ministry, of the total industrial sector investments of Rs 3514.05 crores in the state (right from inception till now), Jammu has a total investment of Rs 2235.29 crore. This is compared to Kashmir which has received a total investment of only Rs 1278.76 crore during the review period, it said.
While Jammu received Rs 1296.64 crore as local investment and Rs 938.65 crore in the form of non-local investment in the industrial sector, Kashmir got Rs 1275.76 crore and Rs 3 crore as local and non-local investments, respectively.
The industrial sector provides employment to 63,201 youth in Jammu and Kashmir, of which 48,003 are locals and 15,198 non-locals, the data said. As per the figures, as many as 29,251 people work in various industrial units in Jammu regions, with locals accounting for 22,373 workers, while 33,950 work in such units in Kashmir, employing 25,630 local workers.
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