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Pre-summit roadshows: JK is going south, woos large price tag Chennai industrialists

Chennai, Mar 5:
Continuing its efforts to project Jammu and Kashmir as an ideal industrial
destination, the Government today connected north with south India by reaching
out to top business firms in Chennai here with the promise to provide the right
industrial environment for setting up their units.  

The event is part
of the pre-summit road-shows in the run up to ‘J&K Global Investors’ Summit
2020’, to be held later this year. The Road-Shows have already been held at
Bangalore, Kolkata, Mumbai and Hyderabad and these have given a huge impetus to
explore investment opportunities in J&K by big ticket and leading business
firms of the country. 

Advisor to the
Lt. Governor, Mr. K. K. Sharma led the team of senior officers from
J&K administration to Chennai which included Financial Commissioner, Health
& Medical Education Department, Atal Dulloo, Principal Secretary to
the Lt. Governor, J&K, Bipul Pathak, Deputy Commissioner, Budgam, Tariq
Hussain Ganai, Director I&C, Jammu, Anoo Malhotra, Director I&C,
Kashmir, Mahmood Ahmad Shah and Director Handicrafts, Mussrat Islam. Besides,
representatives from successful business firms having set up their units in J&K
like M/s Kanwal Spices, M/s Anphar Organic Pvt. Ltd and M/s Godrej Consumer
Products Ltd also participated in the road-show and highlighted the various
potential sectors for investment in the newly-created Union Territory.

The road-shows
are being organized by Jammu & Kashmir Trade Promotion Organization
(JKTPO), in collaboration with media and knowledge partners like
PricewaterhouseCoopers (PwC) and Ernst & Young, besides national partner,
Confederation of Indian Industry (CII).

The event opened
with a riveting five-minute film which captured Jammu & Kashmir’s clarion
call for investment in the industrial sector.    

 In his
keynote address,  Sharma highlighted the broader context of holding the
Global Investors’ Summit in Jammu and Kashmir after it became a UT last year.
He handed out an assurance to the investors about further entrenching ease of
doing business to build investment confidence. “We are sure that by attracting
investment in various potential sectors like tour and travel industry, pharma,
horticulture, AYUSH and power, Jammu and Kashmir shall integrate more with the
rest of the country,” he said, adding that under the strong leadership of the
Prime Minister, Mr. Narendra Modi and Lt. Governor, J&K, Mr. GC Murmu,
Jammu and Kashmir is moving in the right direction.

Urging the
investors to grab ‘first mover’s advantage’, Mr. Sharma reflected upon the
Government’s efforts to project J&K as a preferred investment destination.
He said the feedback from the top investors during the road-shows and business
meetings has been encouraging and the biggest takeaway for J&K ahead of the
Global Investment Summit to be held in May in the two capital cities. “We are
thinking long term to provide sectoral and industrial policy much needed
stability,” he added.

Making a pointed
reference about the availability of assured land bank for setting up new
business enterprises, the Advisor said the Government shall further expand its
land base to woo more business entrepreneurs to J&K. “We have also
initiated many reforms to incentivize industrial investment in Jammu and
Kashmir,” he added.

Calling upon
Chennai investors to be part of J&K growth story, the Advisor handed out an
assurance on providing fool-proof safety and security to those who are inclined
to set up business units in J&K.   

Extending a warm
welcome to the industrial fraternity of Chennai, Mr. Atal Dulloo, in his
speech, highlighted the intent of Jammu and Kashmir to indulge in serious
business with the prospective investors. He described Jammu and Kashmir as a
place of unparalleled beauty and tremendous economic potential and made
specific reference to the opportunities in the horticulture sector with J&K
leading the country in apple, walnut and saffron production.

The Advisor also
highlighted the potential of Jammu and Kashmir in wool and silk processing and
handicrafts sector, especially silk carpets, Kani and Pashmina shawls, which
are very popular in several countries of Europe, Middle East as well as the
United States.

Describing
J&K as a haven for business investment in various sectors, Mr. Dulloo
rolled out data on health and per capita income indicators that make J&K as
a potential industrial destination. He drew the attention of the investors
towards the potential in affordable medical tourism in J&K. “We have
developed a robust healthcare policy to attract investment in health sector
wherein land as UT’s equity shall be provided at nominal premium to private
business firms who are interested to partner J&K in its sojourn towards economic
prosperity,” he added.

In
her address, Director, I&C, Jammu, presented a brief insight into
the 14 shortlisted sectors for investment which hold huge potential in Jammu
and Kashmir. She specifically highlighted the opportunities for investment in
traditional sectors like handloom and handicrafts, tourism, film production and
agro and horticulture-based industries, where J&K has positioned itself as
an independent destination. She also spelt out the various incentives being
provided to industrialists for setting up their units in J&K. 

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