n a major boost to industrial development in Jammu and Kashmir, the Government has signed 456 Memorandums of Understanding (MoUs) worth Rs 23,000 crore for investments in the Union Territory.
Asserting that the Industrial Development Scheme announced by the Central Government two months ago has received widespread response from Multi National Companies (MNCs) as well as national level industries, official sources said that they have so far signed 450 non-binding MoUs to the tune of Rs 23,000 crore for investments in the Union Territory of Jammu and Kashmir.
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Reportedly, 70 Corporate Houses have desired to launch their units in Jammu and Kashmir with immediate effect, the officials said, rest of the industries which have signed MoUs with the Union Territory Government are likely to come up with the proposals after few months as some of them are waiting for COVID vaccination process to be completed.
The Government is, however, expecting more investment proposals shortly especially after the Industrial Development Package finally comes into effect from this month.