Emmar Group is developing 10 lakh square feet area in the Union Territory, with UAE-based Lulu Group set to take two floors for a retail mall
Our Bureau
Gandhinagar (Gujarat)
Union Home Minister Amit Shah has appealed to industrialists in Gujarat to expand their businesses in the northern part of the country, and Kashmir in particular. “I would like to tell Gujarati industrialists, in case they want to expand towards the north, then please invest in Kashmir. By doing so, please support Prime Minister Narendra Modi’s initiative in mainstreaming Kashmir,” Shah said, addressing the Vibrant Gujarat Global Summit, with Lieutenant Governor of Jammu and Kashmir Manoj Sinha in the audience.
Using Vibrant Gujarat Global Summit as a platform, Manoj Sinha too made a similar appeal to investors to visit and participate in the growth journey of the Union Territory. Manoj Sinha said he has signed as many as seven MoUs for investment in Jammu and Kashmir. Emmar Group is developing 10 lakh square feet area in the Union Territory, with UAE-based Lulu Group set to take two floors for a retail mall.
“The condition of Jammu and Kashmir has changed a lot in the past four years. The New Industrial Scheme which the government of India has made for investment in J&K, so I would like to say that today the highest incentive is being generated from here (because of this scheme). Poverty is also less in J&K,” Sinha said.
Ever since the abrogation of Article 370 from Jammu and Kashmir, the central government has been looking at bringing in big-ticket investments in the region which has seen decades-long militancy.
The 10th edition of Vibrant Gujarat Global Summit 2024 was inaugurated on Wednesday by Prime Minister Narendra Modi. The theme of this year’s three-day summit is ‘Gateway to the Future’ and includes the participation of 34 partner countries and 16 partner organizations.
The Summit is also being used as a platform by the Ministry of Development of North-Eastern Region to showcase investment opportunities in the North-Eastern regions.
Jammu and Kashmir is poised for a significant influx of investment. Expressing confidence in the positive response received from industrialists, Lt Governor Manoj Sinha anticipates an investment of Rs 2500-3,000 crores in the near future.
Speaking at the Vibrant Gujarat Summit during the Jammu and Kashmir State Seminar, LG Manoj Sinha expressed gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah, emphasizing the crucial role of the central sector scheme led by Amit Shah.
Sinha applauded the central government for providing significant incentives, marking a positive shift in the investment climate for Jammu and Kashmir. LG Sinha said, “Jammu has all premiere educational institutions of the country. No dearth of skilled manpower. Handloom export is increasing. 4 years of time will be remembered for the change. Crime is less than Gujarat”.
“We will not welcome by red tape but with red carpet. Large magnesium deposits are also found, and natural resources are there in Jammu and Kashmir. Why should be invested in Jammu and Kashmir? – good for business and also provides better healthcare, he said.
He added, “PM Modi, after a long time, made it conducive to business. You will get maximum profit and will strengthen Jammu and Kashmir as part of India”.
The LG stressed the concerted efforts to establish a viable environment in the region, aiming to attract investments and solidify Kashmir’s integration with India.
LG Sinha said, “Someone will only invest when there is some kind of profit…Investing in Jammu and Kashmir means investing in India, investing in the unity and integrity of India…”
Sinha acknowledged Gujarat’s pivotal role in India’s growth trajectory and acknowledged the wounds of the past, expressing optimism about the transformative changes witnessed in the last four years.
Highlighting Prime Minister Modi’s vision for Jammu and Kashmir, Sinha cited a recent report that positioned the region as the most searched online destination, surpassing even Switzerland. He attributed this interest to the stable, viable, and peaceful environment created in Jammu and Kashmir, drawing positive attention globally. Asserting confidence, LG Manoj Sinha stated, “We will make it better than Davos,” referring to the town in the Swiss Alps famous for hosting the World Economic Forum.
He lauded Jammu for hosting premier educational institutions and emphasized the abundance of skilled manpower in the region. Sinha highlighted the positive economic indicators, with increasing handloom exports and a reduction in crime rates compared to Gujarat.
