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| With Jammu on Govt's backburner, Kashmir to get Rs 2,000 Cr investments! | | More firms submit EOIs to run business in valley | | Early Times Report
Jammu, Oct 9: With the Jammu and Kashmir administration being seemingly unable to promote prospects of running industries from peaceful Jammu, the militancy-infested Kashmir is set to get a whopping Rs 2,000 Cr investment from private players willing to set up units in the trouble-torn valley.
Sources said in the last around two months, since the abrogation of Article 370 on August 5, over four dozen non-local firms including multi-nationals have shown willingness to invest in Kashmir and that number is only growing with each passing day.
Sources said the prospective business players have already submitted their Expression of Interests (EOI)s with the Directorate of Industries Kashmir.
Sources said most of the business players are from Maharashtra adding that the only incentive such players want is the tax waiver for around fifteen years.
A senior official in the industries department said most of the executives from such firms were in touch with the administration add ng that some of them were seeking appointment with the Raj Bhawan to discuss the prospects of the tax waiver.
Market pundits said it was high time for the Jammu and Kashmir administration to promote Jammu as a safe destination for business investment. "If Directorate of Industries Kashmir is getting Expression of Interests, it means that the Directorate of Industries Jammu is unable lure business players and this is a serious issue for the winter capital region," the said a market pundit.
He said if the administration offers special incentives for opening of business units in Kashmir alone than Jammu will remain neglected. "But if same incentives are offered for Jammu as well the potential players will prefer Jammu for the safety and security in the region," said business players said.
Meanwhile observers said the Jammu Inc should pick up the matter with the Raj Bhawan.
"If Jammu remains silent at this point of time, the neglect of seven decades will only worsen," said a business player. |
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