Addresses special session on ‘Investment opportunities in J&K’ at Vibrant Gujarat Global Summit
Gandhinagar: Terrorism is taking its last breath in Jammu and Kashmir and investors should pump in funds in the Union Territory (UT) as doing so would mean investing in the unity and integrity of India, Lieutenant Governor Manoj Sinha said here on Friday.
Addressing prospective investors at a seminar organised as part of the 10th Vibrant Gujarat Global Summit here, he urged them to turn their attention to the erstwhile state and contribute in connecting J&K with the rest of the country by setting up ventures there.
Without taking Pakistan’s name, Sinha asserted nefarious designs of India’s neighbour will not succeed and the situation in Jammu and Kashmir, whose special status was revoked by the Centre in 2019, will soon be similar to that in the rest of the country.
“An effort is being made to create a conducive environment (to attract investment in J&K). Investing in Jammu & Kashmir means investing in India, investing in the unity and integrity of India and strengthening its integration,” the LG said.
He promised investors that they will profit from their investment in the Union Territory.
“(By investing) You will get maximum profit in J&K and also contribute to connecting J&K with the rest of the country. Terrorism is taking its last breath. Our neighbour tries its best every time, but we are working in the direction of finishing off terrorists and uprooting the entire ecosystem of terrorism from the UT,” he said at the seminar.
Prime Minister Narendra Modi has called Gujarat the “gateway to the future”, but the state should also contribute towards the development of J&K, the ‘Sharda Peeth’ of the country, he said.
People were full of doubts regarding law and order in J&K, but the National Crime Records Bureau (NCRB) data shows crime rate in the Union Territory is even lower than Gujarat, Sinha maintained.
“Under the leadership of PM Modi, the government does not believe in buying peace but to establish peace permanently, and I am certain in the coming times, the situation in J&K will be similar to that in the rest of the country,” he said.
Sinha said since the abrogation of Article 370, which provided special status to J&K, several big changes have taken place there and tourist arrivals have risen significantly, including from overseas with coincided with India’s presidency of G20, during which several meetings were held across the country, including in the Union Territory.
“Only J&K can become a hub of medical tourism for Gulf countries. In a very short time of 3 to 4 years, we have improved rail, road and air connectivity. Development works worth Rs 1.5 lakh crore are underway for highways and tunnels. In 2020, 32 flights were operating in the region, which has now increased to 126,” he further said.
All needs of industries are being made available and with PM Modi’s desire and contribution, J&K is moving ahead on the path of industrialisation, the LG stated.
“There was a report a few days back that J&K has left behind Switzerland to emerge as the most searched global (tourist) destination. It is indicative of the fact that tourists’ interest in J&K has increased as has investors’ confidence regarding investment opportunities,” he said.
Sinha said Srinagar and Jammu have witnessed significant urban transformation. Jammu has become the only city in the country to house all premier educational institutes, including IIT, IIM, AIIMS and central university, a distinction that even Ahmedabad, Delhi, Mumbai or Kolkata do not have.
Economic stability, skilled labour, easy availability of raw materials, host of incentives, enabling and safe business environment, infrastructure and transparency are the factors that should attract investment in the UT, he said.
Talking to reporters on the sidelines of the event, he claimed the J&K administration was providing the maximum number of incentives in the country for investors, and power was also cheaper there.
He said the event in Gujarat will help realise Rs 2,500-3,000 crore investment for Jammu and Kashmir.
“Investing in J&K offers a unique opportunity to tap into UT’s potential brimming with raw material, better incentives, high productivity for the niche market, high potential of value addition, robust infrastructure and high level of innovation, research and development,” he said.
According to an official press release, the LG also said that “J&K is a great place to do business because our economy is strong, continues to grow and it is diverse. With more than 55 percent green space, it offers a great place to live and work. Urban transformation has also ensured quality living in the cities,” the LG said.
“Ease of doing business, less compliance burden, physical & digital connectivity and major policy reforms makes J&K an attractive trade and business location,” he added.
The LG also reiterated the commitment of the J&K administration to promote entrepreneurial culture in the UT. “Recently J&K received Gold Medal in the ‘One District One Product’ ranking, which indicates strong local entrepreneurship,” he said.
Vikramjit Singh, Commissioner Secretary, Industries & Commerce Department, J&K gave a presentation on investment opportunities in Jammu & Kashmir.
J&K Government through Industries and Commerce Department also inked MoUs with several industries, the press release said.
It said the session was organized by the Jammu & Kashmir Trade Promotion Organisation (JKTPO) in collaboration with The Associated Chambers of Commerce & Industry of India (ASSOCHAM).
