UAE delegation arrives in Srinagar, to explore the investment avenues in J&K

 

Right ahead of the OIC (Organisation of Islamic Cooperation) meet in Pakistan , a high level delegation of Gulf countries arrived in Srinagar on Sunday evening to explore investment opportunities followed by Jammu & Kashmir Lieutenant Governor Manoj Sinha’s Dubai visit, where several important memorandums of understanding (MoUs) with multiple UAE companies were signed in the month of January.

 

The event is interesting as the OIC summit is scheduled to take place in Pakistan on Monday (March 21). Islamabad has repeatedly raised the Kashmir issue at OIC-an international organisation of a 57-member Islamic nations group, including UAE.

 

 

 

CEOs of more than 30 companies have reached the Union Territory on a 4-day tour to explore business opportunities.The goal of the tour is to investigate the economic potential in the Union Territory. L-G Manoj Sinha and other government officials will provide them with investment options centred on entrepreneurship, tourism, and hospitality. The visit signifies the successful socio-economic transformation of the Valley under the leadership of Prime Minister Narendra Modi .

 

 

Balakrishna, CEO, Century Financial, is presiding over this high-level delegation. Notably , this includes the CEOs of UAE and Saudi Arabis. The delegation will also visit various tourist destinations, including Gulmarg and Pahalgam, to explore investment opportunities. Sinha will also host a dinner for the business delegation. Pitch presentations will be given by many exporters, start-ups, and women entrepreneurs in J&K, as well as an overview of the cottage and silk industries and artisan meet-ups.

 

During Sinha's visit to Dubai in January, agreements were signed with LuLu Group, Al Maya Group, MATU Investments LLC, GL Employment Brokerage LLC & Noon Group in various sectors. An MoU for $-100 million investment by Century Financial was also signed. Back then while adressing the Investors Summit in Dubai , LG had highlighted the strong business scenario in Jammu & Kashmir.

 

Worth mentioning here , after the introduction of new industrial policy for J&K , huge investment proposals are pouring in. While interacting with the media LG (J&K) said , As of now, we've sanctioned over Rs 26,000 Cr proposals & we're expecting to cross it Rs 70,000 Cr in next 6 months.