Jammu and Kashmir's Lieutenant Governor Manoj Sinha on Tuesday said that Prime Minister Narendra Modi will preside over the groundbreaking ceremony of the launch of industrial investments worth Rs 20,000 to Rs 25,000 crore in March.

Sinha was speaking after inaugurating 20 power projects to provide power supply to the residents of Jammu, Udhampur, Poonch, Rajouri, and Reasi districts of Jammu province.

He sought the cooperation of the people to the efforts of his administration to usher new dawn of peace, prosperity, and development under the leadership of Prime Minister Narendra Modi in the Union Territory of Jammu and Kashmir.

"Someday back, I have requested the Prime Minister to preside over the groundbreaking ceremony of the launch of industrial investment to the tune of Rs 20,000 crore to Rs 25,000 crore. He has asked us to complete the formalities and expressed willingness to be among the people of Jammu and Kashmir to preside over the function by March," the Lt Governor informed.

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Manoj Sinha chaired the Business Summit organized to showcase opportunities and boost investments in the UT of Jammu and Kashmir on the sidelines of J&K's participation in Dubai Expo 2020 at India Pavilionvia Twitter

J&K likely to get Rs 70,000 crore investment

The Lieutenant Governor said that the industrial investment scheme is launched in Jammu and Kashmir with the personal efforts of Union Home Minister, Amit Shah.

"Initially we were expecting an industrial investment worth Rs 25,000 crore but now we are confident that there will be an investment of over Rs 70,000 crore in the next couple of years," he said.

Sinha said that the government land available with the industries department is being allotted to investors who have deposited the fee and submitted the detailed project reports and the process is likely to be completed by February 20 in the run-up to the groundbreaking industrial investment ceremony.

"We are addressing the shortage of infrastructure with renewed vigor with focus on inclusiveness and bridging divides. Our growth model has multi-dimensional objectives to produce a wide-spread flow of benefits, ensuring access to essential services for all sections and expansion of quality employment," said the Lt Governor.

"Prime Minister Narendra Modi has laid a solid foundation for a better future, rapid economic and sustainable growth of Jammu and Kashmir," he said.

First-ever real-estate summit in Jammu & Kashmir

First-ever real estate summit was held in December

The first-ever real estate summit was held in December 2021 in Jammu to encourage people from across India to invest in real estate and property in Jammu and Kashmir.

The summit was organized by the Union ministry for housing and urban affairs in collaboration with the J&K government. The first-ever J&K Real Estate Summit witnessed 39 MoUs (Memorandum of Understanding) worth Rs 18,300 crore getting inked with India's real estate investors for the development of housing and commercial projects in the union territory.