MoUs worth Rs 2100+ crore inked in Govt of J&K-CII Industry Mumbai Meet, Overall Target to achieve 50K crores

Mumbai, February 22, 2020: Govt of Jammu & Kashmir and CII organized the industry Meet to promote J&K Investors Summit and attract investments into the newly carved out Union Territory under the leadership of Girish Chandra Murmu, Lieutenant Governor, Jammu & Kashmir in Mumbai. Several top industrialists including CII President Designate, Uday Kotak, Vineet Mittal, and Senior Representatives from Hinduja Group, Taj Hotel, Mahindras, Thyssenkrupp, Wolkswagen, Ambuja, Bayer and many others had one to one meeting with the LG. Bollywood was represented by Madhur Bhandarkar. The agenda of the industry meet was to showcase the opportunities in Agri, Horticulture, Food Processing, Manufacturing, Infrastructure, Media & Entertainment, Film and Tourism sectors and attract investments in the newly formed UT.

Girish Chandra Murmu, Lieutenant Governor, Jammu and Kashmir led the B2G meetings with industrialists, film industry leaders, corporations and briefed them about the potential, investment opportunities and investible projects in the UT. A series of round-table discussions held via strategic sector-specific sessions to maximise industrial growth and employment opportunities in the UT. The event was attended by over 150 delegates where 40 B2G meetings were held and MoUs worth Rs 2100 crore were inked between Government of J&K and Mumbai Bizmen. It is expected that MoUs worth another 50K crore will be signed shortly as the UT is proceeding towards the final Global Investors’ Summit to be held in Srinagar & Jammu respectively.

Kewal Kumar Sharma, Advisor to Lieutenant Governor, Jammu & Kashmir informed, “We are in the final stages of designing an ambitious Industrial Promotion Policy 2020 in J&K, which will have elements like SGST reimbursement in full, attractive land policy, exemption from Stamp Duty, support for green industrialization along with other benefits.” He further emphasized that J&K is focused on good governance as its structure is changed

Sharing his views about the potential of Jammu and Kashmir during the road show in Mumbai, Manoj Kumar Dwivedi, Commissioner Secretary, Jammu & Kashmir said that the UT has a lot of inherent potential with appropriate climate for agriculture, vibrant tourism ecosystem and a huge land bank. He added that it is indeed the next destination for investment with progressive & competitive investors and friendly policies fundamentally.

Along with Kewal Kumar Sharma, Advisor to Lieutenant Governor, Jammu & Kashmir, B V R Subrahmanyam, Chief Secretary, Jammu & Kashmir & other senior government officials were present at the road show including Rohit Kansal, Principal Secretary Planning Development & Monitoring, Jammu & Kashmir and Manoj Kumar Dwivedi, Commissioner Secretary, Industries & Commerce, Jammu & Kashmir.

A state film was showcased along with a brief presentation on 14 new focus sectors, and sector-specific policies by Manoj Kumar Dwivedi, Commissioner/Secretary Industries & Commerce, J&K. He highlighted 14 distinct 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. With an aim to make Jammu and Kashmir an industrial hub more than 48 investible projects and new 14 focus sector been identified, which are investor-friendly and easy to business, he added.

“The multiplier effect of the recent reforms in J&K will ensure generation of employment opportunities, increase in income and improvement in quality of life of the citizens leading to enhanced contribution of the UT to the country’s GDP,” said Kashmira Mewawala, Chairman, CII Maharashtra State Council while addressing the participants.

Some prominent industry Groups & Leaders present were from Taj Group, Carnival Films, Volkswagen Group India, Hinduja Group, Ambuja Cements Limited, Mahindra Holidays, Kotak Mahindra Bank and others.

Jammu and Kashmir has a very old history with Bollywood with potential to host a massive number of film tourists providing umpteen opportunities and breath-taking locales, religious & heritage sites, dense forests, waterfalls and much more. The UT provides umpteen opportunities to set up Film studios, Film Cities, Film Institutions, Multiplexes with film exposed workforce as per new Film Tourism Policy.

The road shows will further cover numerous cities like Hyderabad, Chennai, Ahmedabad in the month of February and March 2020 with an intent 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.

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