J&K To Usher In New Era Of Industrial Revolution, Several MoUs Signed

General News

After the abrogation of Article 370 and 35A from Jammu-Kashmir, various new doors of development have opened up for the Union Territory

Written By Tejinder Singh Sodhi | Mumbai | Updated On:

The Union Territory of Jammu and Kashmir will soon usher in an unprecedented industrial revolution as a large number of business houses across the nation are lining up to invest in the newly formed UT.

After the abrogation of Article 370 and 35A that acted as a hurdle in the development of the erstwhile state, companies are ready to invest their money in Jammu and Kashmir now. In this regard 35 Memorandum of Understandings worth Rupees 2141 crore with big corporates, MNCs, Business Groups and Investors from different sectors were signed.

Terming the Gujarati businessmen as the successful world over the Lt Governor of Jammu and Kashmir GC Murmu today appealed the Gujarati businessmen to explore the opportunities to invest in Jammu -Kashmir.

“Gujarati businessmen are successful worldwide and they should also explore the vast investment opportunities in Jammu & Kashmir,” Murmu said while addressing the captains of the industry from Gujarat during the interaction jointly organised by Confederation of Indian Industry(CCI) and Government of J&K in Ahmedabad. 

He informed the industrialists that industrial barriers have been removed in J&K. Top business houses of Gujarat including Rasna, Cadila, Ambuja Group, Amul, Adani, Suzlon, Abellon Clean Energy, and many others participated in the interaction.

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Jammu-Kashmir attracting investors' attention

Piruz Khambata, CMD Rasna Pvt Ltd, Mr RS Sodhi, MD, Amul GCCMF, Manish Gupta, MD, Ambuja Group and many other prominent industrialists from Gujarat called on the Lt Governor to discuss their investment plans in J&K. 

The Union territory of Jammu and Kashmir has drawn the interest from Investors, Corporates, Business owners across India for the upcoming Jammu Kashmir Global Investors Summit. 

With 6 domestic roadshows, which ended in Ahmedabad city today, the delegations led by the Lt Governor, attended by over 150 delegates, 21 B2G meetings has signed  35 MoUs worth Rupees 2141 crore with big corporates, MNCs, Business Groups and Investors from different sectors. 

J&K Government delegation also included Kewal Kumar Sharma, Advisor to the Lieutenant Governor, Jammu & Kashmir, Arun Kumar Mehta, Financial Commissioner Finance, Jammu & Kashmir, Dheeraj Gupta, Principal Secretary, Housing & Urban Development, Jammu & Kashmir and Shri Manoj Kumar Dwivedi, Commissioner/Secretary Industries & Commerce, Jammu & Kashmir. 

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The meeting was attended by Managing Director JKTPO, Director Industries, and Commerce Jammu, MD JKI and Dy Commissioners of Pulwama, Shopian, Reasi, Bandipora. 

In the next phase of outreach initiative for the Global Investors Summit, JKTPO shall be organizing Mini Conclaves in Jammu and Srinagar to sensitize residents. 

The event was organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), a nodal agency for the Government of J&K along with the Confederation of Indian Industry (CII) as the National Partner, Ernst & Young as the knowledge partner Media Partner PricewaterhouseCoopers (PwC).

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