J&K gears up to host Global Investors’ Summit

In the run-up to its first such event, the Union Territory connects with investors in city

Updated - March 02, 2020 11:12 pm IST

Published - March 02, 2020 11:11 pm IST - HYDERABAD

Jammu and Kashmir is rolling out the red carpet for investors as it gets ready to host its first Global Investors’ Summit in all likelihood in May this year.

A conducive working environment, sector specific and investor-friendly policies, incentives, pristine and pollution free environment and 6,000 acres of land bank are some of the features it is highlighting to woo them.

Healthcare, tourism and film tourism, IT and ITeS, horticulture and food processing, education and skill development and manufacturing – pharma, light engineering, renewable energy among others – have been identified as the focus sectors for attracting investments.

The response to the roadshows for the Global Investors’ Summit has been good, Manoj Kumar Dwivedi, Commissioner Secretary to the Department of Industries and Commerce of Jammu & Kashmir. He said commitment for an investment in excess of over ₹5,000 crore has been received from investors during the roadshows in Kolkata, Mumbai and Bengaluru .

Speaking on the sidelines of the roadshow organised here on Monday in association with industry body CII, he said the objective of the administration is to convert the MoUs into investments at the earliest. It is also keen on reducing the cost of doing business and likely to soon unveil a set of incentives.

Mr. Dwivedi was part of the official delegation led by Rajiv Rai Bhatnagar, Adviser to the Lieutenant Governor of Jammu and Kashmir that addressed the roadshow here. Business to government (B2G) meetings with industrialists, firms were held during which the officials highlighted the potential, investment opportunities and investible projects in the Union Territory.

Financial Commissioner Health and Medical Education Atal Dulloo said the Union Territory has a lot of potential with appropriate climate for agriculture, vibrant tourism ecosystem and a huge land bank.

Managing Director of JK ITIDC Simrandeep Singh said to give impetus to the growth of IT/ITeS sector, the government is developing two mega IT hubs in Jammu and Srinagar.

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