Lt Governor Manoj Sinha said the union territory of Jammu and Kashmir now has a sage and conducive environment for the businesses to flourish, besides having a young population and a demographic dividend to its advantage…reports Asian Lite Newsdesk
With the aim to boost investment in Jammu and Kashmir, the union territory government signed several important MoUs with UA-based Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC and Noon.
Addressing the Investors Summit at Dubai, Lt Governor Manoj Sinha highlighted the strong business scenario in Jammu and Kashmir.
Big business groups from UAE have shown interest in investing in Jammu and Kashmir marking the beginning of a new and comprehensive partnership, the Lt Governor said.
“Relationship between India and UAE has matured enough over the years to become enduring ‘Global Partners’ in the 21st Century. These are those times in the journey of Jammu and Kashmir where opportunities are in plenty,” observed the Lt Governor.
The Lt Governor said the union territory of Jammu and Kashmir now has a sage and conducive environment for the businesses to flourish, besides having a young population and a demographic dividend to its advantage.
“We are devising new paths, new policies, creating critical infrastructure and unlocking the business potential of Jammu and Kashmir to strengthen our business ecosystem for the post-pandemic world and embarking on the journey of growth and development,” he said
“Jammu and Kashmir has the capability to provide opportunity to industries to compete, connect and collaborate with its readily available abundant resources. In the last 28 months, Jammu and Kashmir has transformed from sleeping business destination to the land of opportunities and investment”, added the Lt Governor.
Due to transparent policies, ease of doing business, the government was able to clock investment proposals worth Rs 45,000 crore and additional Rs 18,300 crore in real estate sector, added the Lt Governor.
“Jammu Kashmir is rising. The best time to invest in Jammu and Kashmir is ‘now’. I have set the high target of economic growth for Jammu and Kashmir, which is the crown jewel of India. With the ageless culture visible in the layers of history and as a witness to co-existence of almost all major religions known to humankind, Jammu and Kashmir has created an inclusive cultural ecosystem for the country,” Sinha said.
“This is the new Jammu Kashmir determined to reverse the trend of the past seven decades by pushing the targets for economic growth. Our aim is to deepen the trust with business firms, build the industrial base for the economy and strengthen social stability. And, the tireless effort is paying us the dividend,” the Lt Governor added.
He said that the global pandemic made the world realize the hard way the virtues of globalization, an inter-connected world. The paradigm shifts towards virtues of connecting and collaborating globally which the business enterprises are witnessing is also an opportunity to invest in the unsaturated market.
Sinha highlighted that there is an advantage of first-mover because Jammu Kashmir is an unsaturated market and one can build a brand new business network and tap rapidly growing opportunities in the Union Territory.
“I assure you, the government will be a facilitator, partner, provider, collaborator and promoter at every step to ensure a sustainable, balanced, progressive and competitive business environment for traditional core sectors and new-age technology-driven sectors,” said Lt Governor.
India and United Arab Emirates (UAE) enjoy strong bonds of friendship and historical ties which was further strengthened by the strenuous efforts of Prime Minister Narendra Modi, Lt Governor said.
“Taking this forward, Jammu and Kashmir government is working with enhanced cooperation in various other sectors. For serving the common interests of peoples of both the countries and creating more opportunities for growth and progress, we are also collaborating in setting up small and medium enterprises, educational institutions, space technology, health and closely working in the horticulture sector,” added the Lt Governor.
Dubai ports giant DP World is planning to build an inland port in Jammu and Kashmir as part of the firm commitment by the UAE to invest in the union territory. The representatives of DP World would soon visit the 250-acre site earmarked for the inland port facility. The ambitious projects will be finalized soon.
The Lieutenant Governor also visited India Pavilion and took a guided tour during the participation of UT of Jammu and Kashmir in the UT floor of the pavilion.
Pertinently, the Lt Governor during his visit to Dubai is holding a series of meetings with potential investors for bringing investment in Jammu and Kashmir, besides promoting the local products at the Gulf market. (ANI)