Jammu, Nov 17 (PTI) The Jammu and Kashmir government has transferred over 3,100 acres (25,000 kanals) of state land to Department of Industries and Commerce for creation of a land bank to ensure rapid industrial expansion, an official spokesman said.
'Out of the total land transferred, 17,000 kanals is in Jammu division, whereas 8,000 kanals is in Kashmir division,' the spokesman added.
The land bank consists of non-forest, non-agricultural primarily barren state land parcels, he added.
It has been identified by revenue authorities in consultation with the Industries and Commerce Department (I&C Department) and shall be put to use for development of industrial estates over the next few years, the spokesman said.
Industrial Policy 2016 envisaged creation of land bank of 20,000 kanals over a period of 10 years across J&K, with emphasis on locations outside urban areas.
This exercise is being carried out for expansion and extension of industrial estates to accommodate new entrepreneurs with an objective of generating employment opportunities, the spokesman said.
With the announcement of industry-friendly packages by the Government of India, the region witnessed a spur in industrial activity across J&K which resulted in creation and expansion of new industrial estates at Samba, Udhampur, Rangreth, Khunmoh and Lassipora, the spokesman added.
Prior to 2018, I&C Department had already established 49 industrial estates across J&K with a total area of 31,448 kanals. The new land bank of approximately 25,000 kanals shall add to these existing industrial estates, the spokesman said.
'The land in the industrial estates is allotted on lease basis to the units through a proper process laid down in the Industrial Policy to carry out industrial activity,' he said.
Out of the new land bank, no land patch has yet been allotted to any entrepreneur as the same is yet to be developed, which shall take some time, he added.
During the last two years, 453 units have been set up on government land in J&K. These units have been allotted a total of 1,371 kanals of land on lease basis in the industrial areas across J&K after following procedure and guidelines as prescribed in the Industrial Policy, he added.
The I&C Department is working on creation of employment opportunities in private sector by encouraging industrial investment in manufacturing and services sector and working towards creation of a conducive business eco-system. PTI AB RVK