Srinagar- Jammu and Kashmir Lieutenant Governor Manoj Sinha invited business leaders from the United Arab Emirates to become partner in development and move together towards creating a more prosperous, equitable and vibrant Union Territory.
Sinha addressed the India-UAE Investment Summit and interacted with the business delegates from the UAE and across the country at the SKICC here.
Highlighting the scope for private and foreign investments in various sectors in J&K, the Lt Governor said the Union Territory has made impressive progress with structural reforms in recent years and growth trajectory makes it an attractive investment destination.
“We will ensure the investors receive every kind of assistance, facilitation and support from the administration,” he said.
Sinha said under the guidance of Prime Minister Narendra Modi, the Union Territory of Jammu and Kashmir has made remarkable progress towards ambitious infrastructure development programme, modernisation and expansion of airports, rail network and highways for ease of doing business and to fuel faster economic growth.
“We have been successful in removing the impediments and hurdles to great extent. We are upgrading our infrastructure both in capacity and quality to meet new demands and ready to raise our partnership with industries to higher levels,” the Lt Governor said.
“The path of reforms that we have embarked upon in the last three years is the outcome of a well-considered long-term comprehensive strategy to provide a conducive investment climate for domestic and foreign investments in J&K,” he added.
Sinha said the historic India-UAE Investor meet was a unique opportunity for free and frank exchanges of views on issues and opportunities for investment in J&K.
He appreciated the enthusiasm and faith of foreign investors in the resilience of the Union Territory.
“The constructive discussion held on various sectors particularly agriculture and allied sectors, hospitality, education, tourism and other industry sectors will explore investment opportunities which will further strengthen our long-term partnership with UAE and rest of the Gulf countries,” the Lt Governor said.
It was decided in the summit to constitute a joint group for speedy clearance of proposals and to ensure faster implementation.
“Our Agriculture Sector is growing rapidly, driven by growth in allied sector and adoption of modern technology like GI tagging for premium crops. The investors will find attractive opportunities in food processing industries, which are also beginning to emerge as an important segment of the industrial development,” Sinha said.
“We are working with the right intent and have developed the infrastructure needed for industries. This has infused new confidence in foreign investors and will lead to the Jammu and Kashmir’s economic growth, increasing employment and creating a peaceful environment,” he added.
The Lt Governor also shared the efforts to identify more land to ground all the investment proposals received. He emphasized the digital transformation of J&K which will enable and empower the industrial units.
The Lt Governor assured the investors that the land will be allocated within 15 days from the submission of the proposal.”The transparent regulatory framework and incentive structure will allow individual enterprise to prosper and to 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 across the world to set up shop in Jammu Kashmir. We are ready to welcome you with open arms,” the LG said.
The Union Territory government is also willing to utilize the technological expertise of other states in various projects like developing Yatri Niwas of Shri Amarnathji Shrine Board, he added.
The Lt Governor expressed gratitude to Aman Puri, Consul General of India in Dubai. He said an officer will be appointed and remain in touch with the Council.
Chairman UIBC-UC and KEF Holdings, Faizal Edavalath Kottikollon, said they are keenly working with the government of Jammu and Kashmir for investment and will be bringing a world class climate wellness resort in the Union Territory.