Is Kashmir Getting ‘Industrialised’? 31 Companies ‘Reach Out’

Weeks after the Narendra Modi-led Bharatiya Janata Party (BJP) government at the Centre abrogated Article 370 in Jammu and Kashmir, as many as 31 companies from other parts of India have submitted Expressions of Interest (EOIs) to the state government, to set up their units in the Valley.

According to official documents, companies belonging to the following sectors are interested in setting up their units in Kashmir: defense, skills and education, tourism, IT & technology, infrastructure, renewable energy, manufacturing, hospitality.

The interested companies have also demanded five to fifteen-year tax holidays. Sources said the state administration has almost finalized the proposal and was in the process of identifying land to set up the new companies.

At least 250 Kanal (1,26,464 sq m) of land is required to set up these units. As per the agreement, the companies have to hire 80 percent local staff and 20 percent, non-local staff.

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