New industrial development scheme enables J-K to fetch investment of over Rs 38,800 cr: LG

Jammu, May 28 (PTI) Jammu and Kashmir Lt Governor Manoj Sinha on Saturday said the new industrial development scheme has enabled the Union Territory to fetch investment of over Rs 38,800 crore.

The proposals include 338 industrial units associated with the biotech sector in some way or the other, Sinha said after he along with Union minister Jitendra Singh inaugurated north India's first industrial biotech park constructed at Ghatti in Kathua district.

With new Biotech capabilities and innovation, Jammu and Kashmir, bestowed with more than 3,500 medicinal plant species, will be able to harness market advantages in the most effective way and help the farmers to generate more income.

"Under the leadership of Prime Minister Narendra Modi, the new Industrial Development Scheme has enabled J&K to fetch investment of more than Rs 38,800 crore as on dates, which also includes proposals of 338 industrial units associated with the biotech sector in some way or the other,” Sinha said. He said the establishment of organic based and pharmaceutical companies will definitely be successful in linking the abundant natural wealth neglected for decades with the industry.

"The inauguration of Industrial Biotech Park will transform the economy and enable scientists to tackle challenges of climate change. The enabling infrastructure will fuel a new wave of Innovation and impact various sectors, from health and agriculture to cosmetics and materials,” the Lt Governor said.

He said another Biotech Park at Handwara in north Kupwara is under construction and the park will cost Rs 84.66 Crore, shared between the Department of Biotechnology, Government of India and Science and Technology Department of the UT Government.

The Lt Governor said the new Industrial Biotech Park at Kathua will provide Startups, Young Entrepreneurs and SMEs the tools that can make production cheaper, manageable and environmentally sustainable.

"Together with advances in Data Analytics, Machine Learning, Artificial Intelligence, Biotech Park will accelerate change," he said.

As North India's first Industrial Biotech Park, he said it will be a vital futuristic asset of Agri-Horticulture Entrepreneurs, Startup Entrepreneurs, Researchers, Youth Entrepreneurs and Scientists of the region.

The Lt Governor expressed his gratitude to the Prime Minister and observed that the country has recovered its lost ancient scientific temper under his leadership. "At present, unprecedented progress has been made by the country in the field of space science, nuclear science, and biotechnology," he said.

Sinha outlined that the glimpse of this collective commitment and self-reliance of the country was apparent during the corona pandemic when scientists across the country strengthened the health infrastructure from test kits to vaccines and instilled a new sense of self-confidence amongst young scientists and researchers associated with Biotech.

He impressed upon the scientists of the Industrial Biotech Park, Kathua and the researchers of SKUAST to collaborate on tissue culture and molecular diagnostics of a new variety of plants. "Our goal is to integrate agriculture and allied sector completely with biotech so that the whole time cycle of crop production can be streamlined and made beneficial for the farmers," he added. PTI TAS CK