Investors’ Summit: 34 MoUs signed for Rs 2847 crore investment in J&K; says admin

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BENGALURU & KOLKATA: J&K Administration today said that 34 MoUs with a worth of Rs 2847 crores were signed during first round of road shows under J&K Investors’ Summit 2020 held in Bengaluru and Kolkata on Monday.

Some prominent industry groups present during the shows include: Phillips Carbon Black Ltd, Apeejay Surrendra Park Hotels Limited , Pearl tree Hotels & Resorts, Sasa Chakra Infrastructure, Triumph Hotels & Asset Management, Toyota Kirloskar, Flipkart, Oracle India, Big Basket, Cropnosys, Indus Valley Ayurvedic Centre, Arvind Mills etc.

In addition, Flipkart committed market access through its Samarth portal. Oracle proposed an excellence centre and collaboration with educational institutions to provide free software support as part of its Oracle academy. 

IT & ITeS, Manufacturing, Food Processing and Bio-Technology were the primary focus sectors of the Bengaluru Roadshow. While Engineering and Tourism were the prime focus sectors of the Kolkata Road-show to lure potential investors in the newly formed UT.

The roadshows were organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), a nodal agency for Government of J&K along with Media Partner PricewaterhouseCoopers (PwC), Confederation of Indian Industry (CII) as the National Partner and Ernst & Young as the Knowledge Partner.

This exercise is a follow up to the curtain raiser for J&K Administration’s first Investors’ Summit. The road-shows will cover numerous cities like Mumbai, Hyderabad, Chennai, Ahmadabad in the month of February and March 2020.

The road-shows intend to get along business hubs to draw together investors, decision-makers, senior government officials and the local business community in a stimulating dialogue that can spur the region’s industrial growth and manufacturing across 14 identified focus sectors, a government press statement issued today said.

Speaking on the occasion, Kewal Kumar Sharma, Advisor to   Lieutenant Governor, J&K emphasised that “A new version of J&K – J&K 2.0 is all set to emerge as the UT is now at par with rest of India.” 

Rohit Kansal, Principal Secretary, Planning Development and Monitoring Department made a detailed presentation on investment opportunities in J&K; he highlighted 14 distinct sectors including tourism, education, healthcare and infrastructure which presented the greatest opportunities for potential investors. He elaborated that with an aim to make Jammu and Kashmir an industrial hub more than 48 investible projects and new 14 focus sector have been identified, which are investor-friendly and easy to business. 6000 + Acres of industrial and sector-specific land bank has been identified to attract large, mega and small industries to create more employment opportunities in the newly formed UT.

JKTPO has also started its Investment Facilitation Cell at Delhi and also planning same for Jammu & Srinagar. The Presentation was followed by film on UT of J&K and a presentation on IT Sector by Simrandeep Singh, MD JK ITIDC.

“We are coming up with two IT parks with plug and play facility and are also in process of finalizing our new industrial promotion policy,” informed  Bipul Pathak, Principal Secretary – IT, J&K. He also highlighted that there are immense opportunities for skilled manpower in the UT and the government is offering productive incentives and relaxations in several industry sectors.

“The Union Territory of J&K is one of the best destinations in the country for setting up residential schools, smart schools, skill centres,” opined  Hirdesh Kumar, Commissioner Secretary, School Education who led the Road show held  at Kolkata for the upcoming Jammu and Kashmir Global Investors’ Summit.

“We are confident that such steps coupled with the Central Governments and UT Administration’s efforts to restore normalcy in J&K will soon create an environment for attracting industry to the UT,” said Mr Sandipan Chakravortty, Past Chairman, CII Eastern Region while addressing the gathering.

During Road show at Kolkata a detailed presentation was made by  Ravinder Kumar, MD, JKTPO, which highlighted all the 14 Focus sectors and initiatives taken by Government to improve industrial ecosystem in UT. It was followed by UT J&K film and presentation on Tourism Sector by Zubair Ahmad, Administrative Secretary, Tourism. Also prominent industrialists Gagan Jain, Director VKC Nuts Pvt Ltd were present during the sessions. 

These parallel road-shows consist of a series of round-table discussions and networking opportunities including G2B, B2G and B2B meetings, all conducted via strategic sector-specific sessions to maximise industrial growth and employment opportunities.

The Government led Industrial delegation including Manzoor Ahmad Lone, Secretary, Agriculture and Horticulture; Simrandeep Singh, MD, JK ITIDC; Shahid Iqbal Choudhary, DC Srinagar; Anoo Malhotra, Director, Industries & Commerce, Jammu; Atul Sharma, MD, SICOP with other senior Government officials addressed the gathering. Prominent industrialists  Vikram Gupta, MD Airmesh;  Satish Koul, Resident Director Emcure along with J&K bank, tourism representatives were also present.

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