Lieutenant Governor Manoj Sinha graced the inaugural ceremony of the industrial unit of Bloomtex Industries Private Limited.
In his address, the Lt Governor extended congratulations to Bloomtex Industries for initiating production within a year, emphasizing the government’s commitment to fostering a conducive environment for industrial growth in Jammu and Kashmir.
“Progressive reforms, transparent land allotment policies, and attractive incentives have positioned J&K as a preferred investment destination,” stated the Lt Governor. He highlighted the state’s initiatives to streamline the ease of doing business, reduce compliance burdens, and ensure affordable electricity for industrial units.
Addressing the historic challenge of land availability, the Lt Governor asserted, “Today, we can fulfill 70% of the land requirement for industries. Earlier, land availability posed challenges, but concerted efforts are being made to address this deficit.”
Highlighting the substantial investments in both Jammu and Kashmir divisions, the Lt Governor revealed that investment proposals exceeding Rs 90,000 crores have been received in recent years, with Rs 14,000 crores worth of investments currently underway.
Furthermore, Lt Governor Sinha underscored the growth trajectory of J&K Bank, emphasizing its pivotal role in facilitating economic development in the region.
The event was attended by directors, office bearers of Bloomtex Industries Private Limited, and industrialists from various parts of the country.
