Jammu and Kashmir gets investment proposals worth Rs 17,000 cr

18 Jan 2022 CW Team

Businessmen from the United Arab Emirates (UAE) have expressed plans to invest in Jammu and Kashmir, with the government receiving investment bids totalling Rs 17,000 crore.

During the Dubai Expo 2020, eight agreements were made with overseas investors. During its two-week participation in the Expo in Dubai, J&K displayed its commercial and tourist prospects, as well as its rich cultural history, to investors.

From January 3 to 13, the India Pavilion in Dubai conducted a J and K week to entice international businessmen to the scenic region.

A two-day buyer-seller meet was also organised between J and K vendors and UAE buyers.

The real estate, infrastructure, tourism, healthcare, manpower, and employment sectors of J and K have piqued the interest of investors.

Following the Centre's repeal of Articles 370 and 35A on August 5, 2019, the UAE government-backed the Indian government.

According to J&K Lt Governor Manoj Sinha, investment proposals worth Rs 17,000 crore were signed between the J and K government and well-known corporate companies. The initiatives, he said, are vital to accelerating the pace of economic and social change, thereby improving the lives of the ordinary man in J and K. At the show, the J and K government struck eight agreements with international investors.

Expo 2020 is a World Expo that will be held in Dubai, United Arab Emirates, from October 1, 2021, to March 31, 2022. Due to the Covid-19 pandemic, the event was rescheduled from 20 October 2020 to 10 April 2021. Despite the postponement, the moniker Expo 2020 was retained for marketing and branding purposes.

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Also read: J&K to receive about Rs 60,000 cr investment in the realty sector

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