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HomeBusinessLG addresses the India-UAE Investment Summit in Srinagar GTN News

LG addresses the India-UAE Investment Summit in Srinagar GTN News

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SRINAGAR, MARCH 19: Lt. Governor Manoj Sinha today addressed the India-UAE Investment Summit and interacted with business delegates from the UAE and across the country in Srinagar.

Highlighting the extent of private and foreign investments in various sectors in J&K, the Deputy Governor said that UT has made impressive progress with structural reforms in recent years and the growth trajectory makes J&K an attractive destination for investment.

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“Today is a historic day. With the Bhoomi Pujan of 10 lakh sq. Ft. Mall of Srinagar by Emaar, the first FDI in J&K has taken shape. Land has been provided to Emaar for IT towers in Jammu and Srinagar. These three projects will be developed at a cost of Rs. 500 Cr,” said the Lt. Governor.

Under the guidance of Hon’ble Prime Minister Shri Narendra Modi, UT of J&K has made remarkable progress towards an ambitious program of infrastructure development, modernization and expansion of airports, railway network and highways to facilitate business activity and drive further economic growth fast, observed the Lt. Governor.

“We have been successful in removing impediments and obstacles to a large extent. We are upgrading our infrastructure both in capacity and quality to meet new demands and are ready to raise our collaboration with industries to higher levels,” said the lieutenant governor.

The path of reforms that we have initiated in the last three years is the result of a well-thought out comprehensive long-term strategy to provide a conducive investment climate for domestic and foreign investors in J&K, he added.

The Lt. Governor said that the historic India-UAE investor meeting was a unique opportunity for free and frank exchanges of views on issues and investment opportunities in J&K. He appreciated the enthusiasm and faith of foreign investors in the resilience of UT of J&K.

The Lt. Governor invited UAE business leaders to become partners in the development of J&K and move forward together to create a more prosperous, equitable and vibrant UT. We will ensure that investors get all kinds of assistance, facilitation and support from the administration, he said.

The constructive discussion held on various sectors, especially agriculture and allied sectors, hospitality, education, tourism and other industry sectors will explore and substantiate investment opportunities that will further strengthen our long-term partnership with the UAE and rest of the Gulf countries, added the lieutenant governor. .

It is pertinent to mention that foreign and Indian companies at the Investment Summit have shown great interest in launching projects related to residences, hotels, IT parks, ITES units and hospital. It was also decided to set up a joint group for quick approval of proposals and to ensure faster implementation.

Our agricultural sector is growing rapidly, driven by the growth of the allied sector and the adoption of modern technologies such as GI labeling for premium crops. Investors will find attractive opportunities in the food processing industries, which are also beginning to emerge as an important segment of industrial development, the Lt. Governor said.

We are working with the right intention and have developed the necessary infrastructure for the industries. This has instilled new confidence in foreign investors and will lead to economic growth in J&K, increasing employment and creating a peaceful environment, the Lt Governor added.

The deputy governor also shared the efforts to identify more land to substantiate all investment proposals received. He emphasized on digital transformation of J&K which will enable and empower industrial units.

“J&K is witnessing a new technological revolution and we have started two Innovation and Invention centers where well-educated IT faculties and professionals are preparing future knowledge workers who will be the main force of Industry 4.0 to provide the much-needed human resources for the emerging market. ” said Lt. Gov.

The deputy governor assured the investors that the land will be allocated within 15 days from the presentation of the proposal.

“The transparent regulatory framework and incentive structure will enable individual companies to thrive and create a modern, globally competitive and humane industrial economy. In this journey of rapid industrialization of Jammu Kashmir, we are partners. I invite companies from all over the world to set up in Jammu Kashmir. We are ready to welcome you with open arms,” ​​observed the Lt. Governor.

UT Government is also willing to use technological expertise of other states in our projects like development of Yatri Niwas of Shri Amarnathji Shrine Board, he added.

The Lt. Governor expressed his gratitude to Dr. Aman Puri, Consul General of India in Dubai. He said an officer would be appointed and would remain in contact with the Council.

Sh Faizal Edavalath Kottikollon, Chairman of UIBC-UC and KEF Holdings and Sh Sharafuddin Sharaf, Vice Chairman of UIBC shared their views on the emerging investment opportunities in J&K.

Chairman UIBC said that they are working intensively with Jammu and Kashmir government to invest and will bring a world class climate wellness resort in Jammu Kashmir.

Sh RR Bhatnagar, Adviser to Lt Governor; Dr. Arun Kumar Mehta, Chief Secretary; Members of the United Arab Emirates-India Business Council, business leaders and investors from across the country and abroad were present on the occasion.

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