Complete long-term business prospects
Currently, it is the second largest number of operating companies between the Hilly State of India and Uts, with 12,946 companies prohibited from using Uttarakhand.
Despite the latest concerns about J&K’s investment atmosphere in the short term, central government officials believe that the region’s long-term growth prospects – which have attracted several companies so far – remain intact and will continue to drive economic activity. The Pahalgam attack claimed 26 lives and caused widespread anger in India. The Modi government blames Pakistan on the latter’s continued support to spread terrorist activities in India. Officials say the center’s continued development has driven by J&K’s efforts since the repeal of Article 370 in 2019, despite the latest attacks, new incentive plans and efforts by local authorities to address business concerns, officials said. To be sure, J&K’s number of fresh companies fell to 1,380 in FY255 from 1,433 in the previous year, with a record FY1,756 at FY1,756.
However, a senior official attributed moderately to the abnormal surge in fiscal 23, calling the current situation a phase of “normalization”. “The figures for the 25th fiscal year are still much higher than historical trends,” the official stressed. The government is excluding the number of “active” companies that have been closed or faced with liquidation or putting their names off those who have been formed. J&K currently offers a range of incentives for companies that open stores. These include capital investment support, interest sub-certificates for working capital loans, and incentives related to goods and services tax (GST).
