The J&K administration has embarked on massive preparations to organise the ‘J&K Global Investors Summit-2020’ next year to attract investors to the Union Territories of J&K and Ladakh, where buying land was restricted prior to revocation of Article 370 and 35A.
“The investors Summit will provide an opportunity to allay fears and apprehensions from the minds of outside business community about investment in J&K. It will present immense opportunities to develop contacts between the local and outside business community and will provide not only primary employment but also generate secondary and ancillary employment opportunities for youth,” said J&K Chief Secretary B.V.R Subrahmanyam, who chaired the first meeting of the apex committee on Thursday.
Showcasing potential
The summit, which was earlier scheduled in October but could not take place due to uncertain situation on the ground, will provide J&K a platform to showcase its strengths, strategies and potential in the investment sector. “Participating trade and industry organisations will have an opportunity to know first hand about the business friendly policies of the government and identify business opportunities in Jammu and Kashmir,” said Mr. Subrahmanyam.
The J&K administration has described the summit as a mega event. “"It will see strategic sectoral sessions, round table deliberations, technical presentations, partnerships, one-to-one business meetings and signing of memorandum of understanding,” the Chief Secretary said.
Officials said the Confederation of Indian Industry has been selected as the national partner, while Earnest Young, PricewaterhouseCoopers and Expro have been selected as knowledge, media and event partner.
Around 15,000 kanals of land have been identified so far and it will be open for outside investors soon.
An official said Lieutenant Governor Girish Chandar Murmu will be presiding over various pre-event functions in coming weeks.
KCCI stand
The Kashmir Chamber of Commerce and Industries, however, has expressed fears. “The first claim on the resources of Kashmir should lie with the locals. Decisions having any impact on their future should be taken only by them. So far the thrust seems to be on non-local investors and investments,” a KCCI spokesman said.
