Jammu, Feb 7 (PTI) Lt Governor Manoj Sinha on Monday launched the single-window portal for Jammu and Kashmir, making it the first Union Territory to be integrated with the national single-window system.

While 130 industrial services have been made online on the single-window system, over 160 more services will be integrated this year, Sinha said.

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Terming the system a "historic move" to facilitate investment, he said, "Now global investors can apply for all their business approvals in Jammu and Kashmir through the national single-window system."

"We are linking the Union territory into a web of partnerships with domestic and foreign companies and ensuring global best practices in our regulatory institutions and systems," Sinha said.

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Expressing gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah for bringing industrial reforms in Jammu and Kashmir, he said in the last one year, since the launch of the new industrial development scheme, policies have evolved to make the Union territory more competitive and lucrative for industries and service enterprises.

"These reforms have helped us receive investment proposals worth Rs 70,000 crore in different sectors within a year," the LG said.

In January last year, the UT administration announced a new industrial developmental scheme (IDS) with a total outlay of Rs 28,400 crore to encourage new investment and to take industrial development to the block level.

"After years of poor performance in industrialisation, Jammu and Kashmir is at a new stage in its development trajectory. Focused attention is being given to the growth of dynamic sectors, including real estate, horticulture and tourism, so as to create increased employment opportunities," the Lt Governor said.

He said his administration was strengthening the Union territory's power and road infrastructure, improving connectivity and the law and order situation.

"We have launched a massive program costing about Rs one lakh crore to upgrade our infrastructure. There is an air of optimism and I'm fully convinced of positive outcomes," he said.

Principal Secretary, Industries and Commerce Department, Ranjan Prakash Thakur said the Jammu and Kashmir single-window system has emerged as a 'One Stop Solution' for investors or applicants ensuring hassle free services.

The integrated single-window system will facilitate new investments locally and globally, either through the national single-window system or through J&K single-window system with user-friendly interfaces and timely approvals," he said.

Thakur said the Department of Industries and Commerce, being the nodal department, will coordinate with all departments of J&K administration for successful compliance of Business Reform Action Plan (BRAP) 2022 and Regulatory Compliance Burden (RCB) 2022.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)