Global Firms Invited to Invest in Key J&K Sectors – Kashmir Reader

Dubai: Lieutenant Governor Manoj Sinha urged global companies to invest in key sectors including tourism, looms and crafts, to boost the growth of industrial enterprises, small businesses and villages in Jammu- and-Kashmir.
Sinha’s engagements at Expo Dubai 2020 were part of Jammu and Kashmir Week, which kicked off on January 3 at the India Pavilion at Expo.
As part of the Jammu and Kashmir week, Sinha, along with other Union Territory (UT) government officials, organized various meetings and invited global investors to invest in key sectors such as tourism , looms and crafts, food processing, among others, according to a press release.
Sinha, who is on a three-day official visit to the United Arab Emirates, also met with the chairman of Dubai ports giant DP World Sultan Ahmed bin Sulayem on Thursday to discuss opportunities and potential areas of collaboration between the government of Jammu and -Kashmir and society. .
A Dubai-based company, DP World specializes in freight logistics, port terminal operations, maritime services and free zones.
Sinha also kicked off the Jammu and Kashmir Promotion Week at the local hypermarket in Lulu, where the world-famous IG-labeled saffron was launched in a major step towards strengthening commercial ties between Jammu and Kashmir. Kashmir and Dubai.
Inauguration of the J&K Promotion week at the Lulu hypermarket. The world-famous Saffron with GI tag was launched at the Lulu hypermarket, which is a major step towards strengthening trade relations between Jammu-Kashmir and Dubai, Sinha said in a tweet.
Sinha called it a “historic deal” and said trade between Jammu and Kashmir and Dubai has remained stable and reflects the resilience of deep economic ties.
“Relations between India and the United Arab Emirates are old and deeply rooted. People-to-people contacts and commerce have grown in recent years under the leadership of Prime Minister Narendra Modi, ”he said.
The government has also signed a memorandum of understanding with the large United Arab Emirates-based retail group Lulu, which will invest Rs 200 crore in Jammu and Kashmir to set up a food processing center and logistics in Srinagar.
The agreement aims to further expand the Jammu-Kashmir-Dubai collaboration and the Jammu-Kashmir-Lulu group partnership.
Delivering a special speech on development after Union Territory, Sinha also spoke about the initiatives taken by the government of Jammu and Kashmir to ensure growth in different sectors.
Considering the importance of Jammu and Kashmir as a tourist destination, he will also participate in a joint session with the Ministry of Tourism on January 12.
UT Jammu and Kashmir’s vision is to promote balanced growth of industry and commerce through the sustainable use of natural resources and the development of human skills, the statement said.
With this vision, the Government of Jammu and Kashmir strives to create an enabling and enabling environment for entrepreneurship that will facilitate the sustainable growth and development of industrial enterprises, including cottage and village industries.
UT aims to encourage new investments in industries and to facilitate new entrepreneurs. By focusing on growth in these areas, UT also strives to encourage and create conditions that will enable the promotion of human resource skills, the creation of new employment opportunities and the development of new ones. designs in the looms and crafts sector, he said. PTI