Business Friendly Ecosystem To Make J&K, Manufacturing/service Industry Hub Of The Country: Lt Governor

JAMMU, NOVEMBER 17: Lieutenant Governor Manoj Sinha today presented EEPC India Northern Region's Export Awards here at Convention centre.

The 50th edition of the award ceremony was organized by Engineering Export Promotion Council (EEPC) of India to acknowledge the remarkable work done in the field of engineering exports.

Speaking on the occasion, the Lt Governor invited investors and manufacturers to join J&K UT's developmental journey. Industrial landscape in J&K is going through a massive transformation.

We are creating a favourable ecosystem for the potential Investors to realize the vision of 'Make in Jammu and Kashmir, Make for the country and the World', observed the Lt Governor. Structural and process reforms taking place in the J&K business sector will boost employment, growth, competition and industries interests in the UT, said the Lt Governor.

The Lt Governor highlighted the massive impact of the New Industrial Development scheme in J&K’s economic growth, with investment proposals worth Rs 29,000 crore having been received in the first 10 months only.

Business friendly ecosystem has the potential and promise to make J&K the manufacturing & service industry hub of the country. The surge in investment proposals is a reflection of the growing confidence of Industries in J&K, said the Lt Governor.

The Lt Governor expressed gratitude to the Hon’ble Prime Minister Shri Narendra Modi for bringing a new dawn of industrial revolution in J&K and putting this land of knowledge & culture on the Map of International Business.

In the last 27 months, tremendous changes have taken place in Jammu and Kashmir and progress in the socio-economic system has gained new momentum. Now, J&K is marching ahead with reformative policies and technology driven approach in the industrial sector providing stability and a secure environment for the industries to grow, the Lt Governor said.

We are working in a planned manner for development of all sectors; tapping the potential of alternative energy-renewable energy; unlocking the investment flow through a host of attractive industrial incentives, providing highest return on investment, trained manpower, land bank and a supportive Ease of Doing Business framework, taking the industries to the block level, the Lt Governor observed.

The MoU signed between the Government of Dubai and the Government of Jammu Kashmir aimed at developing the Industrial sector and various business enterprises in the UT will play an important role in increasing J&K’s current annual export target of Rs 1500 crore to Rs 5000 crore, he added.

Referring to the data released by the Ministry of Commerce and Industry, the Lt Governor said that India's total exports increased to 56.51 billion USD, which is a testament to the broad scale of our export sector and also reflects the fair share of engineering goods in foreign trade.

I strongly believe that J&K will immensely contribute to the Hon'ble Prime Minister’s goal of taking Indian exports to $ 400 billion and the engineering sector to $ 107 billion, said the Lt Governor.

Speaking on the occasion, Sh. Ranjan Prakash Thakur, Principal Secretary Industries and Commerce, J&K, congratulated the winners and welcomed EEPC India’s presence in the region. Sh. Mahesh Desai, Chairman, EEPC India said that the objective of EEPC India is to service the entire spectrum of the Indian engineering sector, spread across various parts of the country.

Smt Kamna Raj Aggarwalla, Regional Chairperson (NR), EEPC India, delivered the welcome address, while Sh. Pradeep K Aggarwal, Dy. Regional Chairman (NR), EEPC India, presented the Vote of Thanks.

The list of Winners for the award includes Private industries, and PSUs including SAIL, BHEL, RITES etc. Senior officers, Industrialists, members of various business organizations attended the award ceremony.

 

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