Signing of 24 MoUs worth investment of Rs. 2450 Crores is a good sign to begin with for a realistic and dedicated campaign for bringing the Investors in Jammu & Kashmir. The response is encouraging and seems to be on positive trend as sincere, realistic and matching initiatives are being taken by the J&K Administration with all out support from the Government of India. J&K organised a first of its kind pre-summit investors' meet in Mumbai 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.
Interestingly, the erstwhile state governments had also made efforts to woo the Investors, at national and international levels, but miserably failed as they always tried to invite the investors with closed hearts and mind without making them feel the sense of belonging to the place where they had to invest. J&K politicians always tried to outsmart the entrepreneurs and corporate world by showing welcome signs but not easing the way of business by removing the bottleneck like restrictions, archaic laws/rules, red tape, deep rooted bureaucratic and political corruption and denying the real concessions due to political reasons of Article 370.
After the Indian government decision of scrapping Article 370 and 35A from the valley, many authoritative personalities came up with their statements on the national podium visualising huge potential for entrepreneurs.
On this 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.
According to industry officials, there has been an eager demand for medical facilities and pharmaceuticals in the state. Investing in the medical sector will come along with business growth and better health opportunities.
Due to inherent demand, sectors like tourism will bring economic boost in the valley. Along with its appealing nature around, Kashmir and tourism business go conjointly. Investing in tourism business can bring in the heavy inflow of employment for the residents.
More than 350 delegates from various sectors and leading organisations participated in the event which held over 45 B2G meetings took place.
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 as told to summit by Kewal Kumar Sharma, Advisor to the lieutenant governor.
By bringing in the era of opportunities and eradicating article 370 from the state of Jammu and Kashmir, Prime Minister has brought in the world of opportunities for the people of Kashmir. It created an elbow room for several entrepreneurs to establish themselves in the valley.
