India-UAE Investment Summit: Foreign Investors Participate In J&K’s Growth
India- UAE Investment Summit built connections with the UAE business delegates and gave exposure to the scope for foreign investments in J&K.
Manoj Sinha, the lieutenant governor, claimed on Sunday that foreign investors had confidence in Jammu and Kashmir’s resiliency.
In a statement released here, an official spokesman said that the LG highlighted the potential for private and foreign investments in a number of sectors in J&K while speaking at the India-UAE Investment Summit and engaging with business delegates from the UAE and other parts of the country in Srinagar.
Manoj Sinha said that J&K has made remarkable strides toward structural change in recent years, and the state’s economic trajectory makes it a desirable location for private & foreign investments.
“This day is historic. The first Investment in J&K has begun to take shape with the Bhoomi Pujan of Emaar’s 10 lakh square foot mall in Srinagar.
Under Prime Minister Narendra Modi’s leadership, J&K has made outstanding strides towards an extensive infrastructure development programme, modernization and extension of airports, the rail network, and highways for business accessibility and to support quicker economic growth.”
Emaar has been given land to build IT towers in Jammu and Srinagar. The development of these 3 projects will cost Rs 500 crore, according to the LG.
He claimed that the administration had been largely effective in removing the obstacles and challenges.
In order to meet increasing demands, the LG announced that it was updating its infrastructure on both a capacity and quality level.
It also stated that it was prepared to step up its partnership with the business community.
“The reforms we have implemented over the last three years are the result of a well-thought-out, long-term, comprehensive strategy to create an environment that is beneficial to both national and foreign investment in J&K.”
He claimed that the historic India-UAE Investment Summit provided a rare chance for open and honest discussion of the problems and investment potential in J&K. The LG praised international investors’ zeal and confidence in J&K’s resiliency.
He extended an invitation to UAE business leaders to collaborate with J&K’s development and work together to build a more successful, just, and vibrant J&K.
The LG promised that the administration will give the investors every type of support, facilitation, and help.
The lieutenant governor claimed that the fruitful discussions on a variety of topics, including agriculture and related industries, hospitality, education, tourism, and other business sectors, would explore potential ground-level investment opportunities and further solidify India’s long-term alliance with the United Arab Emirates and the other Gulf nations.
At the investment summit, both foreign and Indian businesses expressed a strong interest in starting projects for residential schools, hotels, IT parks, ITES units, and hospitals.
It was also resolved to form a combined group to ensure quick approval of proposals and quick execution.
“Our agriculture sector is expanding quickly, propelled by expansion in related industries and the use of cutting-edge technologies like GI labeling for premium crops.
The food processing sectors, which are also starting to emerge as a significant segment of the industrial development, would provide investors enticing chances”, the LG stated.
“We have created the infrastructure required for industries and are working with the correct intentions.
This has given international investors renewed confidence and will result in more employment, economic progress, and peace in J&K.”
He also discussed initiatives to find additional land to anchor any investment plans. The LG emphasized that the industrial units would be enabled and empowered by J&K’s digital transformation.
“J&K is experiencing a new technological revolution, and we’ve established 2 different innovation and invention centers where well-trained academics and IT experts are educating future knowledge workers who will be the driving force behind Industry 4.0 to supply the crucial human resources for the developing market,” he said.
The LG gave the investors the assurance that the land will be awarded within 15 days of the proposal’s submission.
“A contemporary, globally competitive, and compassionate industrial economy will be developed thanks to the open regulatory environment and incentive system.
We are partners in Jammu and Kashmir’s rapid industrialization process. I extend an invitation to businesses everywhere to locate in J&K. We have wide open arms waiting to receive you,” he declared.
The J&K administration is also eager to use other states’ technological know-how in its numerous projects, such as the creation of Yatri Niwas for the Shri Amarnathji Shrine Board.
The LG praised Aman Puri, the Indian consul general in Dubai, and announced that an officer will be appointed to keep in touch with the council.
Vice Chairman of UIBC Sharafuddin Sharaf and Chairman of UIBC-UC and KEF Holdings Faizal EdavalathKottikollon discussed their perspectives on the burgeoning investment potential in J&K.
The chairman of UIBC stated that they were actively seeking funding from the J&K government and will be bringing a premier climate wellness resort to the state.
Members of the UAE-India Business Council as well as LG Advisor R. R. Bhatnagar, Chief Secretary Arun Kumar Mehta, and others were present at the India-UAE Investment Summit in Srinagar.
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