A recent visit of a delegation of over 30 CEOs from Gulf countries to the valley in March has generated positive impression among the investors and they looking forward to investment in JK
Amid fast changing global perspective about Jammu and Kashmir, the state is expecting an investment of INR 70,000 crore in another six months.
A recent visit of a delegation of over 30 CEOs from Gulf countries to the valley in March has generated positive impression among the investors and they looking forward to investment in JK.
Bal Krishen, CEO of Century Finance, was instrumental in bringing the CEOs from the GCC countries. Krishen was a resident of Jammu and Kashmir’s Doda before relocating to Dubai.
According an IANS report that quoted J&K’s Principal Secretary Industries and Commerce, Ranjan Prakash Thakur, “The Union Territory expects over Rs 70,000 crore investment in the next six months. There are members from the Gulf Cooperation Council (GCC) countries – Sharjah, Dubai, Abu Dhabi; also people from Hong Kong and Saudi Arabia visited the Union Territory.”
“There were around 12 Indian-origin businessmen also as part of the delegation. Krishen promised investment of $100 million in the region to build three hotels and one commercial-cum-residential complex in the Union Territory”
“The visit took place a month after India and the United Arab Emirates (UAE) signed a free trade agreement. Jammu and Kashmir’s Lt Governor had recently visited the UAE and invited individuals and corporates to invest in the Union Territory.
There were around 12 Indian-origin businessmen also as part of the delegation. Krishen promised investment of $100 million in the region to build three hotels and one commercial-cum-residential complex in the Union Territory. He is hopeful that these upcoming projects will create 700 direct jobs and several indirect jobs,” the report said.
In an interview to News18 Krishen said: “It is a commitment from my side and my group that we are going to invest this amount in J&K. We are going to build three hotels and one residential complex there. When Lieutenant Governor of Jammu and Kashmir Manoj Sinha was in Dubai, he interacted with a lot of groups, individuals, corporate groups and institutions as he invited everyone. I think that every individual and corporate house should participate in the development of Jammu and Kashmir and even the Union Territory should work towards making it a favourite (investment) destination of the world.”
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