Post scrapping of Article 370, J&K to organise first investors’ summit in Octoberhttps://indianexpress.com/article/india/post-scrapping-of-article-370-jk-to-organise-first-investors-summit-in-october/

Post scrapping of Article 370, J&K to organise first investors’ summit in October

Significantly, the summit is being held nearly a fortnight before the Union Territories of Jammu and Kashmir and Ladakh will come into existence on October 31.

US says no policy change on Kashmir
Security forces struggle with protestors and stone pelters in Kargil on Thursday. (Express photo/Tashi Tobgyal)

To showcase Jammu and Kashmir as a favourable investment destination post scrapping of Article 370, Governor Satya Pal Malik’s administration is organizing the first-ever investors’ summit in the state from October 12-14.

Announcing this on Tuesday, Principal Secretary Industries and Commerce, Navin K Choudhary, said that the inaugural session of the summit will be held at Sheir-e-Kashmir International Convention Centre (SKICC) in Srinagar and the valedictory ceremony at Jammu University. Both the functions are likely to be attended by union ministers, secretaries to Government of India, representatives of other state governments and heads of top industrial and business groups.

He, however, declined to comment as to how much investment in the state administration expects from the summit. When asked as to how much the state was going to spend on organizing the summit, he said it depends on the participation of investors in it.

Significantly, the summit is being held nearly a fortnight before the Union Territories of Jammu and Kashmir and Ladakh will come into existence on October 31.

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“The administration is inviting nearly 2,000 dignitaries from industry and commerce and we expect that a good percentage of them will attend the summit,” Choudhary said, adding that the state machinery will be working hard to make the summit a success despite a shortage of time. A wide-ranging consultations with various ministers of Government of India including Department for Promotion of Industry and Internal Trade (DPIIT), Niti Aayog, Ministry of Home Affairs etc., have been held and they have committed full support for successful hosting of the summit, he said, adding that Invest India, an organization promoted by DPIIT, has been asked to cooperate with the state government.

State government’s J&K Trade Promotion Organisation (JKPTO) will be the organizing agency for holding the summit, he said, adding that CII has been roped in as national partner for the event and it will make available list of industry and trade for sending the invitation, besides holding roadshows both within and outside the country and other organizational aspects of the summit.

Choudhary said that roadshows within the country will be held in Ahmadabad, Mumbai, Hyderabad, Kolkata, Bangalore and Chennai. Apart from this, roadshows will also be organized in Dubai, Abu Dhabi, London, Netherlands, Singapore and Malaysia, he said, adding the objective is to sensitise the potential investors regarding opportunities available as well as support and incentives to be provided by the state government.

For investment, the state government has identified some of the key thrust sectors as horticulture and post-harvest technologies, tourism and hospitality, film industry, IT and ITeS, handloom and handicraft, agro and food processing, manufacturing and MSME, healthcare and pharmaceuticals, skills and education. To attract investors into the state, the government will also organize ambassadors meet and a media meet in Delhi next month, he said.

Pointing out that many prominent business groups have already shown keen interest and willingness for participation and making the investment in the state, Choudhary said that state government will also try to reach understanding for as many as investments by various groups possible. The summit will also provide an opportunity for business to business and business to government meetings which will result in various invest tie-ups, he pointed out.