STATE TIMES NEWSNew Delhi: The Jammu and Kashmir administration on Monday organised a first of its kind pre-summit investors’ meet here, inviting investments from across the world by highlighting the untapped potential of the newly-formed union territory. The event, which was a curtain-raiser to the three-day Global Investors’ Summit to be held in Srinagar and Jammu this year, showcased policy and regulatory environment, investment opportunities in 14 focus sectors to boost manufacturing and employment generation in the region. On the occasion, Jammu and Kashmir Lieutenant Governor Girish Chandra Murmu said that the Global Investors’ Meet — with the theme of ‘explore, invest and grow’ — is a platform that will bring together senior entrepreneurs, leaders from corporate sector across the country, senior policymakers, development agencies, investors from across the world and local businessmen. “We intend to take a leap forward in making Jammu and Kashmir an economic paradise for investors and I would like to invite you all to take the lead in setting up your enterprises in Jammu & Kashmir. “Today’s Pre-Summit Investors’ Interaction has been organised to deliberate with you all on desired initiatives for creating an investor-friendly ecosystem and make you interested in Jammu and Kashmir,” Murmu said. The Lieutenant Governor emphasised that the provision to acquire land which was not available earlier, will greatly facilitate investments from outside. He said, with each passing day, new policies are being worked out which will bring ease of business. Minister of State, Prime Minister’s Office Jitendra Singh congratulated the lieutenant governor for taking such an initiative “at the right time and right place” said that “artificial” barriers, both constitutional and psychological, held back investment in the erstwhile State of Jammu & Kashmir.
He said, there has been a huge and liberal funding from the Center during the last five and a half years by the Modi government.
But the irony is that inspite of this, the development activities and other initiatives did not move at the expected pace because of the non-utilization or mis-utilization of the central funds, he added.
Dr Jitendra lamented that soon after the formation of the government in 2014, Prime Minister Narendra Modi had declared his resolve to put the peripheral States of North East and other far-flung regions on the fast track of development so that they could rise to the level of the more developed regions of India.
It is unfortunate that while the North Eastern States underwent revolutionary transformation during these years, the successive governments in the erstwhile State of Jammu & Kashmir could not avail of this liberal patronage from Prime Minister Narendra Modi, he added.
The Union Territory, said Dr Jitendra Singh, has been created with due diligence and research and the vindication will come very soon with positive outcomes. He said, one of the immediate outcomes of the creation of Union Territory was that the Toll Post at Lakhanpur was abolished and “one nation one tax” was implemented under the GST regime bringing great relief to the business and trade community.
Describing Jammu & Kashmir as a land of unexplored potentials, Dr Jitendra said, with each passing day, the new Union Territory will emerge as a business – friendly zone for investors from all over India and attract investments in diverse areas which have hitherto remained uninitiated.
Putting across some of the innovative suggestions, Dr Singh said, learning from the experience of the North East, we could have specialized Apple and Strawberry Parks in Jammu & Kashmir. In addition, he also referred to the huge scope of Bamboo industry because Bamboo is remaining totally unutilised, particularly in the Jammu region.
Similarly, he also referred to the scope for renewable and solar energy entrepreneurship in the times to come.
Jammu and Kashmir Chief Secretary B V R Subrahmanyam said, “Jammu & Kashmir is little known about the places except what we have seen in the films, it is quite different what we know. J&K is not a backward place but it has the brightest and skilled people. I have read in a book that people in J&K don’t die from the disease but from the old age.”
More than 350 delegates from various sectors and leading organisations participated in the event which held over 45 B2G meetings.
The aim of the upcoming Global Investors’ Summit 2020 is to exhibit the different investment opportunities available in the newly formed UT in different sectors including Tourism, Film Tourism, Horticulture and Post Harvest Management, Agro and Food Processing, Mulberry production for silk, Health and Pharmaceuticals, Manufacturing, IT/ ITes, Renewable Energy, Infrastructure and Real Estate, Handloom and Handicraft and Education, said Kewal Kumar Sharma, Advisor to the lieutenant governor.
The event was organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), a nodal agency for J-K Government along with Media Partner PricewaterhouseCoopers (PwC), Confederation of Indian Industry (CII) as the National Partner and Ernst & Young as the knowledge partner.
This event showcased wide ranging investment opportunities available in the fourteen focus sectors to boost manufacturing and employment generation in the region.
At present, Government of J&K is developing 2 IT parks, ICD in Samba and have identified industrial land bank of over 6000 acres across 20 districts of J&K to develop State-of-the-Art Industrial Parks. Also, the J&K Government has removed all the toll barriers to enable seamless inward and outward movement of raw materials and goods.
During this Pre-Summit Investors’ meet & curtain-raiser, a film along with the focus sector profiles and policies were introduced by Manoj Kumar Dwivedi, Commissioner/Secretary Industries & Commerce, J&K with the focus on the theme: Explore (the opportunities in industries and infrastructure, policies in the region), Invest (in the new and existing investment options); Grow (prosper via incentives and strategic advantages in key sectors).
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