J&K FDI Policy
Jammu & Kashmir’s Lieutenant Governor Manoj Sinha has approved a foreign direct investment (FDI) policy for the union territory with a foreign stake of a minimum of 51 percent.
- L-G Manoj Sinha approved the Policy for Promotion of Foreign Investment in the Industrial Sector in J&K during a meeting of the Administrative Council (AC) in Jammu.
- This new policy has been based on the Department for Promotion of Industry and Internal Trade’s (DPIIT) and Reserve Bank of India’s (RBI) guiding framework on FDI.
- This policy will be effective for the next ten years.
- The FDI policy in J&K aims for foreign investments worth more than Rs 100 crore with a minimum foreign stake of 51 percent.
How will this policy help Jammu & Kashmir?
This policy will help in attracting foreign investments in the UT. Doing so will help the UT in creating more jobs and generating investments.
The J&K government has plans to develop multifunctional complexes for foreign investment. These IT Tower projects will be developed through the use of private players in Pampore, Sempora, and Exhibition Ground, Jammu.
The government of Jammu and Kashmir has already approved the transfer of approximately 290 acres in seven villages in 17 places in Budgam and Srinagar districts for the construction of housing complexes accessible to foreign investment.
What is FDI?
FDI or Foreign Direct Investment is a type of investment where an organization of a foreign country makes an investment in a business in another country. This is usually done to expand business in a foreign country.