Industrial development program yields JK investments above Rs 38,800 cr: LG


Jammu and Kashmir Lt. Governor Manoj Sinha said on Saturday that the new industrial development scheme has helped the union territory secure investments of over Rs 38,800 crore.

The proposals include 338 industrial units associated in some way with the biotech sector, Sinha said after inaugurating with Union Minister Jitendra Singh the first biotech industrial park in North India built in Ghatti in the district of Kathua.

With new biotechnology capabilities and innovations, Jammu and Kashmir, endowed with more than 3,500 species of medicinal plants, will be able to harness the benefits of the market in the most efficient way and help farmers to generate more income.

“Under the leadership of Prime Minister Narendra Modi, the new industrial development program has seen J&K secure an investment of over Rs 38,800 crore as of the dates, which also includes proposals for 338 industrial units associated with the biotechnology sector one way or another,” Sinha said. He said the creation of bio-pharmaceutical companies would certainly succeed in linking the abundant natural wealth neglected for decades to industry.

“The inauguration of the Industrial Biotech Park will transform the economy and enable scientists to meet the challenges of climate change. The enabling infrastructure will fuel a new wave of innovation and impact diverse sectors, from health and agriculture to cosmetics and materials,” said the Lieutenant Governor.

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 the Department of Science and Technology of the UT government.

The lieutenant governor said the new Kathua Industrial Biotechnology Park will provide startups, young entrepreneurs and SMEs with the tools that can make production cheaper, manageable and environmentally sustainable.

“With advances in data analytics, machine learning and artificial intelligence, Biotech Park will accelerate change,” he said.

As North India’s first industrial biotechnology park, he said it will be a vital future-proof asset for agro-horticultural entrepreneurs, start-up entrepreneurs, researchers, young entrepreneurs and scientists in the region.

The Lieutenant Governor expressed his gratitude to the Prime Minister and observed that the country has regained its old lost scientific temperament under his leadership. “At present, unprecedented progress has been made by the country in space science, nuclear science and biotechnology,” he said.

Sinha pointed out that the glimpse of this collective commitment and the country’s self-reliance was evident during the corona pandemic when scientists across the country strengthened the health infrastructure from test kits to vaccines and infused new sense of self-confidence among young scientists and researchers. associated with biotechnology.

He convinced scientists from the Biotechnology Industrial Park, Kathua and SKUAST researchers to collaborate on tissue culture and molecular diagnosis of a new variety of plants. “Our goal is to fully integrate agriculture and the related sector with biotechnology so that the entire time cycle of agricultural production can be streamlined and made beneficial to farmers,” he added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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