MUMBAI: The administration of the union territory (UT) of Jammu & Kashmir (J&K), formed after the reading down of Article 370 last year, signed MoUs worth over Rs 2,100 crore with India Inc at an investment summit in Mumbai on Friday.
The UT has sought Rs 50,000 crore in investment from business houses in 14 sectors. According to the Confederation of Indian Industry (CII), 55% of it has been sought in tourism & hospitality, renewable energy, agri-horticulture and food processing, and the remaining in textiles, manufacturing, healthcare, entertainment and education.
To facilitate investment, the policy offers land parcels of 250-300 acres in each district of the UT. It also proposes to revive cinema halls shut for decades, and create multiplexes and other entertainment zones.
“We want to maximize industrial growth and employment opportunities in J&K. For this we are engaging in six city roadshows,” J&Ks principal secretary (planning, development and monitoring) Rohit Kansal said. “The (remaining) roadshows will (be in) Hyderabad, Chennai and Ahmedabad.” Kansal said the UT has signed around Rs 2,000 crore worth of non-binding MoUs in Kolkata, Rs 850 crore in Bengaluru and over Rs 2,100 crore in Mumbai.
The UTs lieutenant governor, Girish Chandra Murmu, led its delegation while prominent corporates present included the Taj Hotels, Carnival Cinemas, Volkswagen, Hinduja Group, Ambuja Cements, Club Mahindra, and Kotak Mahindra Bank. The MoUs signed in Mumbai include a Rs 1,000 crore proposal to set Read More – Source