Jammu and Kashmir gets Rs.27000 cr investments in the Gulf Investment Summit
The government of Jammu and Kashmir has been working relentlessly to provide an investment-friendly environment to global investors since the abrogation of Article 370. A high-level business delegation from the United Arab Emirates (UAE) was invited to enhance ties and look at the investment opportunities in the region.
Jammu and Kashmir government is hosting a Gulf Investment Summit in Srinagar to strengthen ties and boost investment opportunities in the region.
A 34-member delegation from over thirty-six countries is on a four-day visit to attend the summit. The delegates include Indian-origin businessmen who are looking at business opportunities in Jammu and Kashmir.
Lieutenant Governor Manoj Sinha attended the Gulf Investment Summit in Srinagar on Tuesday and informed that investment proposals of Rs.27,000 crores have been cleared by the Jammu and Kashmir administration.
Speaking on the occasion, Sinha stated that around six to seven lakh people will get jobs once the investments fructify.
“We have cleared investment proposals of Rs.27,000 crores and hope it will cross Rs.70,000 crores in multiple sectors. 6-7 lakh people will get jobs when the investment will fructify,” said Sinha while addressing the press conference.
This comes two months after J&K Lieutenant Governor Manoj Sinha’s visit to Dubai when he signed many major Memorandums of Understanding with several enterprises in the UAE.
Ranjan Prakash Thakur, Bussiness Secretary Industry, Commerce and Aviation, Government of Jammu and Kashmir said that the government had been engaging with the UAE and Gulf Cooperation Council (GCC) countries and now looking for a concrete outcome.
“For the last four to five months, we have been taking the steps and also arranged a major investors summit at Jumeirah towers in Dubai,” said Thakur.
During their four-day visit, the delegation will also be visiting Pahalgam (South Kashmir) and Gulmarg (North Kashmir) to explore investment opportunities in the Tourism and Hospitality sector.
Earlier in January, J&K signed five MoUs with Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC, Century Financial, Noon E-commerce, and others.
[With Inputs from IANS]
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