Ishtiyaq Ahmad
Srinagar, Nov 28 (KNS): In a strategic initiative aimed at bolstering economic growth and addressing unemployment concerns, the establishment of new industrial estates in Jammu and Kashmir is anticipated to unleash a wave of job opportunities in the private sector.
This development is poised to not only provide employment to the local populace but also catalyze industrial expansion, laying the foundation for sustained economic development in the region.
On Saturday, the Union Territory administration greenlit the establishment of four new industrial estates in Jammu and Kashmir, signaling a concerted effort to invigorate investments and bolster local employment.
The Administrative Council (AC), convened under the leadership of Lieutenant Governor Manoj Sinha, endorsed the creation of industrial estates at Budhi Kathua, Medicity Jammu, Chandgam, and Lelhar in South Kashmir’s Pulwama district. Spanning over 1379 kanals of land, this endeavor is set to attract an investment of Rs 136.65 crores.
“The proposed industrial estates are slated for comprehensive development, encompassing essential infrastructure elements such as internal road networks, reliable electricity access, a centralized water distribution system, rainwater harvesting facilities, roadside greenery, and extensive plantation. This multifaceted approach aims to create a conducive environment for industrial growth and sustainable development in the designated areas,” officials told KNS.
The establishment of these industrial estates is part of the government's broader vision to transform Jammu and Kashmir into an economic powerhouse.
Recognizing the untapped potential of the region, policymakers have focused on creating an environment conducive to industrial growth, attracting investments, and fostering entrepreneurship.
The selected locations for these industrial estates have been strategically chosen to maximize their impact on employment generation and economic development.
Spread across key areas, the industrial estates are set to become hubs for various industries, including manufacturing, technology, and services.
Investments in infrastructure have been substantial, ensuring that the industrial estates are equipped with the necessary facilities to support a wide range of businesses.
Modern amenities, reliable utilities, and connectivity have been prioritized to provide an enabling environment for entrepreneurs and industries to flourish.
The primary objective of these industrial estates is to generate employment, and initial indicators suggest a positive outlook. The job creation is expected to span across diverse sectors, accommodating the varied skill sets of the local population.
In particular, the manufacturing sector is anticipated to witness a surge in job opportunities as industries set up production units within the industrial estates. Simultaneously, the technology and services sectors are expected to contribute significantly to the employment pool, reflecting the evolving nature of the economy.
To ensure that the local population benefits from the economic opportunities created by the industrial estates, the government has launched targeted initiatives for skill development and training.
These skill development programs not only enhance employability but also empower individuals to explore entrepreneurial avenues.
The emphasis on local empowerment aligns with the government's commitment to inclusive growth and the development of a skilled workforce that can actively participate in the economic transformation of Jammu and Kashmir.
The successful implementation of these industrial estates has garnered positive attention from investors, both domestic and international. The proactive measures taken by the government to create a business-friendly environment, streamline regulatory processes, and provide incentives have contributed to an atmosphere conducive to investment.
The influx of investments is expected to further amplify the impact of the industrial estates, creating a multiplier effect on job creation and economic growth. It positions Jammu and Kashmir as an attractive destination for businesses looking to capitalize on the untapped potential of the region.
As the industrial estates begin to operationalize, there is a palpable sense of anticipation regarding the transformative impact on the local economy. Beyond immediate job creation, the ripple effects are expected to manifest in increased economic activity, improved infrastructure, and a rise in living standards for the local population.(KNS)