While the government is busy making preparations for the first-ever investors’ summit in Jammu and Kashmir, the high profile Rs 1500 crore dry port that was to be built by a Dubai based company in the state has been shelved.
The setback has come while the government has decided to organise the investors’ summit between 12 and 14 October to attract the industry that was so far shy of investing here because of Article 370. Now that the controversial provision in the Constitution has been scrapped by the Modi government, the authorities were making efforts to persuade the big industrial houses to come to J&K.
The Ambani and Trident groups have already shown interest in investing in the state. However, scrapping of the dry port project is being seen as a setback to the industry in the state.
The Dubai Ports Group had last year signed the MoU for setting up two dry ports in Jammu and the Kashmir valley through Foreign Direct Investment (FDI).
The J&K Government would organise the first-ever Jammu and Kashmir Investors’ Summit 2019 to be held from 12-14 October 2019 at Srinagar and Jammu.
According to Principal Secretary, Industry & Commerce, Navin K Choudhary, there will be a wide range of technical sessions covering various sectors during the summit.
About 2000 big guns of industry and trade will be sent invitations and a very good percentage of them are expected to attend the summit.
Choudhary said that the Confederation of Indian Industry (CII) has been roped in as the National Partner for the Summit. He said that road-shows have been planned within the country in various states including Ahmadabad, Mumbai, Hyderabad, Kolkata, Bangalore and Chennai. In addition, the road-shows will also be organised in countries like Dubai, Abu Dhabi, London, Netherlands, Singapore and Malaysia. The objective of holding these Road-shows is to sensitize the potential investors regarding the opportunities available as well as support and incentives to be provided by the State Government.
The state government has identified key thrust sectors such as horticulture and post-harvest technologies, tourism and hospitality, film industry, IT, handloom & handicraft, Agro & Food Processing, Manufacturing and healthcare and Pharmaceuticals, Skills and Education.
The state government will also organise a meeting with diplomats and media in New Delhi to give a thrust to the plan.