Gujarati Investors Ink 35 MoUs, Investing Rs 2141 Crores Cr

SRINAGAR: Gujarati businessmen have inked as many as 35 memorandum’s of understanding (MoU) with the UT administration in Jammu and Kashmir that will lead to an investment of Rs 2141 crore, an official spokesman said. The deal inking took place in Ahmedabad, where Lt Governor GC Murmu interacted with the potential investors.

Jammu and Kashmir LG Girish Chandra Murmu addressing the captains of Gujarat industry during the interaction at Ahmadabad on March 9, 2020. DIPR Photo

Murmu informed the industrialists that barriers have been removed in Jammu and Kashmir. Those who were part of the interaction included Rasna, Cadila, Ambuja Group, Amul, Adani, Suzlon, Abellon Clean Energy and many others, the spokesman said. He identified the participants as Piruz Khambata (CMD Rasna Pvt Ltd), RS Sodhi, (MD, Amul GCCMF), Manish Gupta, (MD, Ambuja Group) and many others.

“The Union territory of Jammu and Kashmir has drawn the interest of Investors, Corporates, Business owners across India for the upcoming Jammu Kashmir Global Investors Summit,” the spokesman said. “With 6 domestic road-shows, which ended in Ahmedabad city today, the delegations led by  the Lt Governor, attended by over 150 delegates, 21 B2G meetings has signed  35 MoUs worth Rupees 2141 crore with big corporates, MNCs, Business Groups and Investors from different sectors.”

J&K Government delegation also included Kewal Kumar Sharma, Advisor to the Lieutenant Governor, Jammu & Kashmir, Arun Kumar Mehta, Financial Commissioner Finance, Jammu & Kashmir, Dheeraj Gupta, Principal Secretary, Housing and Urban Development, Jammu and Kashmir and Manoj Kumar Dwivedi, Commissioner Industries and Commerce. The meeting was attended by Managing Director JKTPO, Director Industries and Commerce Jammu, MD JKI and Dy Commissioners of Pulwama, Shopian, Reasi, Bandipora.

Kewal Kumar Sharma, Advisor to the Lieutenant Governor, Jammu and Kashmir assured all investors that Government will extend full support to attract investment into J&K.

Arun Kumar Mehta, Financial Commissioner Finance shared that Jammu and Kashmir 2.0 is open for industry including the private sector. He further said that Jammu and Kashmir is expected to grow by approximately 10 per cent for the next ten years. GST collection has increased by 40 per cent this year which is the highest percentage in the country.

Manoj Kumar Dwivedi highlighted six thrust areas covering 14 focus sectors including Tourism, Film Tourism, Horticulture and Post Harvest Management, Agro and Food Processing, Mulberry production for silk, Health and Pharmaceuticals, Manufacturing, IT/ ITes, Renewable Energy, Infrastructure and Real Estate, Handloom and Handicraft and Education.

Vinod Agrawal, Vice Chairman, CII Gujarat State Council and CMD Arunaya Organics Pvt Ltd, while welcoming the Government delegation and potential investors for the business interaction said Ahmedabad interaction is the final leg of domestic outreach programmes in the run-up to J&K Global Investors’ Summit.

Lieutenant Governor Girish Chandra Murmu addressing the captains of Gujarat industry during the interaction at Ahmadabad on March 9, 2020. DIPR photo

In the next phase of outreach initiative for the Global Investors Summit, JKTPO shall be organising Mini Conclaves in Jammu and Srinagar to sensitize residents.

The event was organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), a nodal agency for Government of J&K along with Confederation of Indian Industry (CII) as the National Partner, Ernst & Young as the knowledge partner Media Partner PricewaterhouseCoopers (PwC).

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