Emphasis On Economic Investment In UT of Jammu And Kashmir

Emphasis On Economic Investment In UT of Jammu And Kashmir

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Now Emphasis On Economic Investment In UT of Jammu And Kashmir

 

With effect 31 October 2019, Jammu and Kashmir will be bifurcated into two Union Territories, Jammu and Kashmir, and Ladakh, as a bill in this regard was passed by Parliament and given Presidential assent. Whether Gilgit Baltistan will be a separate UT or part of Ladhak has not yet been decided.

Now apart from movement on the political front, a faster movement is required on tge economic and infrastructural development front.

Therefore to seek to businesses investment to Jammu and Kashmir, the state/ UT administration has announced a three-day global investors summit to be held in Srinagar from October 12.

The meet will provide J&K an opportunity to showcase its strengths, strategies and potential, the state’s Principal Secretary (Industries), Naveen Choudhary, told reporters. It will also help allay fears and apprehensions in the minds of trade and business community outside the state.

The announcement comes a week after the Centre scrapped special status to Jammu and Kashmir under Article 370 of the Constitution. A major reason for restricted industrial growth and development of the State was this Article 370.

The Confederation of Indian Industries (CII) will be the national partner for the investors meet. An MoU has been signed by Jammu and Kashmir Trade Promotion Organisation (JKTPO) and CII for organisation and management of the event, the official said.

Trade and industry organisations will come to know firsthand about the business- friendly policies of the government, assess infrastructure, natural resources, raw material and skill and un-skilled manpower available and identify business opportunities in the state, he said. It will present immense opportunities to develop contacts between the state and business community and between local and outside business communities, he said.