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Administrative Council approves policy for promotion of Foreign Investment in Industrial sector in J&K- 2022
The Administrative Council (AC) which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha, today approved the Policy for Promotion of Foreign Investment in the industrial sector in Jammu and Kashmir- 2022.
Farooq Khan and Rajeev Rai Bhatnagar, Advisors to the Lieutenant Governor, Dr. Arun Kumar Mehta, Chief Secretary, J&K, and Nitishwar Kumar, Principal Secretary to the Lieutenant Governor attended the meeting.
The new policy is based on the guiding framework on FDI issued by the Government of India through the RBI and DPIIT and will be valid for the next 10 years. It aims to facilitate large foreign investments greater than Rs.100 crore with a minimum of 51% foreign stakes.
The policy also provides for identifying parcels of land in various industrial esta...