In an effort to give the required boost to the economy of Jammu and Kashmir, the centre aims to get around Rs 44000 crore domestic and foreign investments in the next few years in the Union Territory.

Proposals worth Rs 25,000 crore for funding various projects have already been received. The authorities have identified industry, health, tourism, and horticulture as priority sectors for investments to revive the shattered economy and generate jobs for the unemployed youth.

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The economy of J & K is on the brink of collapse due to the unfavourable political situation and Covid crisis. Tourism is one of the major sectors that have been affected badly.

The UT administration has formulated a Healthcare Investment Policy HCIP with an aim to woo private entrepreneurs to set up healthcare infrastructure so as to provide quality health services to the people. The Apollo Hospital is setting up a super specialty hospital in the Jammu region.

The administration has already earmarked 12.5 acres of land at Jammu’s Miran Sahib for a medi-city, where the country’s top health sector corporates are going to set up hospitals and medical care facilities.

Similarly, several health sector companies have shown interest in setting up health centers in the medi-city coming up on 46 acres in south Kashmir.

The government is seeking the cooperation of Dubai-based investors to make investments in the UT. The JSW Steel Ltd has been given land at Lassipora industrial estate to set up a Rs 150 crore steel plant and Apollo Hospitals Enterprise Ltd. became the first major corporation to buy land for their projects.

Around 2,512 applicants from J & K have also expressed their readiness to invest in around 17 different sectors, including information technology and horticulture. The administration is also banking on major groups from Dubai to meet the investment target.

Dubai ports giant DP World has shown interest in setting up an inland port in J & K to ship the valley’s products to outside markets. It is sending a high-level team to inspect a 250-acre site earmarked for the inland port facility in the Jammu region.

An investment of about Rs 3,000 crore by industrial giants like Emaar, Lulu, MATU Investments, Al Maya Group, GL Employment Brokerage LLC, Century Financial, and Noon e-commerce, has been already committed. A letter of intent has been signed with Magna Waves Private Limited along with the Emaar Group and Lulu International, which are interested in setting up malls and an inland port in Kashmir.

Officials said investment of Rs 18,300 crore is likely to come in the real estate sector as Dubai-based companies see a huge potential in this sector. The UAE- based Century Financial, is keen to invest $100 million in three hotels, and one commercial-cum-residential complex