J&K may attract Rs. 70,000 cr in 6 mths

Jammu: Jammu and Kashmir Lt Governor Manoj Sinha on Monday said that the Union Territory is expected to attract Rs 70,000 crore worth investments in the next six months. J&K has been looking to bring in investments in diverse sectors, including tourism and hospitality, and currently a UAE delegation is visiting the Union Territory.

The delegation reached Srinagar on Sunday to explore investment opportunities in the region, following an invitation by the Lt Governor at the Dubai Expo in January this year. Officials said that the Lt Governor along with Ranjan Prakash Thakur, Principal Secretary, Industries and Commerce, and other government officials will showcase investment opportunities to the visiting delegates as part of a four-day programme, focusing on entrepreneurship, tourism and hospitality sectors.

The Lt Governor said that the J&K government has already sanctioned industrial investment proposals worth over Rs 26,000 crore so far and provided land to the investors. "We are hopeful of getting an investment of over Rs 70,000 crore in the next six months," Sinha said. The 34-member delegation includes top businessmen from real estate, hospitality, telecom, import-export, and other sectors.

A member of the ruling family in Sharjah is also part of the delegation. "The delegates are looking for avenues where investment can be made in Jammu and Kashmir," Sinha told reporters on the sidelines of a function here. About the four-day programme, Sinha said, "I am hopeful that its good results will be witnessed by the people of Jammu and Kashmir." Asked about the sectors that are expected to attract investment, he said a clear picture will emerge tomorrow.

"The investment is going to take place in both regions of Jammu and Kashmir in different areas and sectors," he said. According to the officials, the Union Territory is aiming to attract new investment in industries and tourism by highlighting key opportunities and growth sectors to the delegation.