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J&K signs MoU with Dubai govt for real estate, industrial development

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A significant move towards rapid development, industrial growth in J&K: Union Minister Piyush Goyal

The step reaffirms commitment to build self-reliant J&K: LG

Srinagar, Oct 18: Government of Jammu & Kashmir Monday signed a Memorandum of Understanding (MoU) with the Government of Dubai for developing the industrial sector and various business enterprises in the UT.

Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Lieutenant Governor Manoj Sinha and Sultan Ahmed Bin Sulayem, Chairman of DP World addressed the media on the occasion.

Speaking at a press conference, Piyush Goyal highlighted the significance of the day and said that “with the signing of the MoU with Dubai government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.”

According to an official press release, he said “this MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role in that as well.

“This MoU is a significant move towards rapid development and industrial growth in J&K. It is a milestone after which the investment will pour in from the entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment. Development has to be aspired on all fronts and we are on track. Recent industrial package of Rs 28,400 crore is a testimony towards ensured development of J&K,” the Union Minister added.

The Lt Governor, Manoj Sinha termed the occasion as a “historic day” for the Dubai-Jammu Kashmir friendship, and for the developmental journey of Jammu and Kashmir Union Territory.

He said the MoU is the beginning of a new partnership between the Government of Dubai and J&K which will help the Union Territory to scale new heights in industrialization and sustainable growth.

“It is aimed at developing various economic activities including industrial parks, IT towers, multi-purpose towers, logistics, medical college, super specialty hospital and many other projects,” he added.

Expressing his gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah for unprecedented development of the UT, the Lt Governor said that the Rs 28,400 crore Industrial Development Scheme is already attracting huge industrial investment in the UT.

“Jammu & Kashmir has received a proposal worth Rs 30,000 crores in just a few months after the second wave of the pandemic and we hope to get the proposals of around Rs 60,000 crores in the coming times,” he added.

“This MoU is about Jammu Kashmir’s prospect and I am confident it will set the pace in the business sector of the future that is key to the prosperity of people. It renews the foundation of cooperation and reaffirms the government’s commitment to build ‘Aatm-Nirbhar’ (self-reliant) Jammu & Kashmir, that will immensely contribute to Aatm-Nirbhar Bharat,” observed the LG.

“The government is committed to develop a new industrial culture in Jammu & Kashmir, create greater bonds and enhance the scope of investments in future to build the world’s best business enterprises in the UT,” Sinha said.

“We have developed an ecosystem for incubating and unfurling start-ups in various sectors of the Union Territory of Jammu Kashmir.  With this MoU, the Government of J&K and Government of Dubai have drawn out strategy on future investments,” he observed.

The LG also spoke on the deep relationship shared by Jammu Kashmir and Dubai based on the common values, mutual trust, respect and fair trade of popular products.

“The Government of Dubai is willing to explore the opportunity of potential cooperation with the government of Jammu & Kashmir. The presence of Hon’ble Sultan Ahmed Bin Sulayem in today’s conference and our initiative to start the first International flight to Sharjah from 23rd October reflects our commitment to foster strong business cooperation,” the LG said.

He also thanked Goyal for giving a “focused attention towards creating a smart industrial ecosystem in J&K, and tirelessly making efforts to bring investment and build an efficient pool of skilled human capital for sustained growth.”

However, according to the PTI report, the LG ended the press conference abruptly when he was asked about the impact of killing of non-local labourers in the labour intensive sectors and investments proposed in the MoU with the Dubai government.

Thousands of skilled and unskilled labourers come to Kashmir every year in February and March to work mainly in the construction sector. However, there have been targeted killings of these labourers over the past 10 days as five of them have been shot dead.

Dr Arun Kumar Mehta, Chief Secretary; Yuvraj Narayan, Group Chief Financial, Strategy and Business Officer, DP World; Ranjan Prakash Thakur, Principal Secretary Industries and Commerce, J&K; Team members of DP World, besides senior officials of the J&K government were present on the occasion.

DP World says committed to realise true biz potential of J&K through improved mkt connectivity

Srinagar, (PTI): DP World Dubai, one of the leading logistic companies, on Monday said it was committed to connect Jammu and Kashmir to rest of India and the world in terms of logistical services to realise the true business potential of the region.

“We are committed to connect Jammu and Kashmir to the rest of India. We know how to do that, we know the obstacles,” Chairman and CEO DP World Dubai Sultan Ahmad Bin Sulayem told reporters here.

Sulayem said the investments by his firm will be part of the ‘Make in India’ initiative and many products will come out of Kashmir to reach the world.

“This country is beautiful and this region has vast potential. There are many products like carpets which I have seen and are best in the world, there are agricultural products as well,” he said while talking about the products that had potential to be marketed globally.

Sulayem said the problem was that products need markets.

“While there is need for soft solutions like apps, there is need for hard solutions like investments and well. The solutions will allow the producer to put his projects in the market due in no time through ports and airports,” he said.

Sulayem said he has been informed that the Srinagar airport is going international from 23rd October “which is a big plus” point.

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