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In Gujarat, J&K Admin signs 35 MoUs for Rs 2141 cr investment

ZT News Network

AHMEDABAD: In a significant development, Jammu & Kashmir administration, led by Girish Chandra Murmu, Lieutenant Governor, signed 35 MoUs for Rs 2141 cr investment in J&K on Monday.

At an event jointly organised by Confederation of Indian Industry (CCI) and Government of J&K in Ahmedabad today, LG Murmu invited Gujarati businessmen to invest in J&K. He also informed the industrialists that “industrial barriers have been removed in J&K”, an official from J&K admin said.

J&K’s business chambers and top business houses and entrepreneurs have consistently expressed their concern for large-scale investment crowding out local investment in J&K, leading to more business collapses and job losses.

Top business houses of Gujarat including Rasna, Cadila, Ambuja Group, Amul, Adani, Suzlon, Abellon Clean Energy and many others participated in the interaction. Piruz Khambata, CMD Rasna Pvt Ltd, Mr RS Sodhi, MD, Amul GCCMF, Mr Manish Gupta, MD, Ambuja Group and many other prominent industrialists from Gujarat called on the Lt Governor to discuss their investment plans in J&K.

With 6 domestic roadshows, 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 Rs 2141 crore with big corporates, MNCs, Business Groups and Investors from different sectors.

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

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

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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