J&K sign MoU with Dubai for developmental projects including industrial parks, IT towers, multipurpose towers, logistics, medical colleges and super specialty hospitals
Jammu and Kashmir Lt. Governor Manoj Sinha said that the UT administration has signed a Memorandum of Understanding (MoU) with the Dubai government for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical colleges, super specialty hospitals and more.
Piyush Goyal, Union Minister for Commerce and Industries, told some media persons at the Raj Bhawan in Srinagar that during his recent visit to Dubai, King Sultan Ahmed expressed his interest to visit India especially Jammu and Kashmir to invest in real estate business.
“I invited him and now the results are clear. He said people from Dubai will now throng J&K and the UT will go a long way in Tourism and Real Estate business,” Goyal said.
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“We are committed to develop a new industrial culture in Jammu Kashmir,” said Lt. Governonr Manoj Sinha. “This MoU is about Jammu Kashmir’s prospect and I am confident it will set the pace in the business sector of the future that are key to the prosperity of the people.”
DR AMAN PURI: “Today is an important day for Jammu Kashmir. This will bring rapid changes in the socio-economic sectors in the Union territories. The UAE is a strategic partner of India and the new initiative repose their confidence in India. We are absolutely certain that many brands, institutions and companies from the UAE will invest in Jammu and Kashmir. Because the union territories are offering extra-ordinary incentives to the investors.”
Dr Aman Puri, Consul General of India in Dubai, welcomed the MoU in between J&K and the government of Dubai.
“The new initiative will cement Indo-UAE relations,” said Dr Aman. “As the Expo 2020 gathers momentum in Dubai, we can expect more business tie ups to strengthen Indo-UAE economic and bilateral ties.”
“Today is an important day for Jammu Kashmir,” added Dr Puri. “This will bring rapid changes in the socio-economic sectors in the Union territories. The UAE is a strategic partner of India and the new initiative repose their confidence in India. We are absolutely certain that many brands, institutions and companies from the UAE will invest in Jammu and Kashmir. Because the union territories are offering extra-ordinary incentives to the investors.”
The MoU will see discussions take place on a multi-modal logistics park and hub in Jammu, comprising warehouses and specialised storage solutions that will also encourage inter-modal transfer of containers, bulk and break-bulk cargo.
“Opening up the Indian hinterland through new infrastructure and facilities is one of the ways that the Indian economy will continue to grow and we are delighted to enter into these discussions with representatives of the Jammu and Kashmir government,” Sultan Ahmed Bin Sulayem, DP World group chairman and CEO, was quoted as saying.
“India has vast economic potential and unlocking it will provide new trade opportunities. Efficient logistics is the way forward – to get cargo moving faster, safer and more cost effectively for all stakeholders,” he said.
SULTAN AHMED BIN SULAYEM, DP WORLD GROUP CHAIRMAN AND CEO: Opening up the Indian hinterland through new infrastructure and facilities is one of the ways that the Indian economy will continue to grow and we are delighted to enter into these discussions with representatives of the Jammu and Kashmir government. India has vast economic potential and unlocking it will provide new trade opportunities. Efficient logistics is the way forward – to get cargo moving faster, safer and more cost effectively for all stakeholders
“The country is currently the fastest growing in the world with major strides being made already with the logistics sector set to reach US $215 billion by 2020, 34 mega multi-modal logistics parks and over 1,300 infrastructure projects underway.”
DP World has already invested US $1.2 billion in the last 20 years supporting 28% of all container trade, Sulayem added. “We look forward to growing this partnership further in Jammu and Kashmir.”
The value of goods exported and imported by DP World’s operations in India reached almost US $50 billion in 2016, accounting for 15% of India’s total non-oil imports and exports. Bilateral trade between the UAE and India has grown from US $128 million 30 years ago to more than US $53 billion today.
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