Home Editorial Investing in J&K’s economy

Investing in J&K’s economy

Jammu & Kashmir was a poor and backward erstwhile state of India union and it needs top most attention by Government. Since Jammu and Kashmir is a backward economy and as such it needs bulk investment so that the economic and social development is possible in the union territory. Thus, centre Government and LG’s administration on toes to attract the huge private investment in economy of Jammu & Kashmir. The poverty, lack of employment opportunities and consequent problem of unemployment and low standard of living are the consequences of the absence of the required investment in trade and industry of Jammu and Kashmir. Thus, J&K is facing problems of unemployment and poverty and it need much capital to be invested in the economy of the country. LG Manoj Sinha is leaving no stone unturned to attract huge foreign and Indian investment in the economy of Jammu and Kashmir. LG embarked on the programme of foreign trips to ink agreements with the foreign investors for investment in J&K. The tour of the LG to Dubai is a step in the direction of attracting the foreign investment in Jammu and Kashmir. LG entered into the agreements with the Dubai industrialist to invest in the trade and industry in Jammu and Kashmir. LG is making sincere efforts to attract the foreign private investment in J and K so that its economy gets boost and economic development of the union territory becomes a reality. But it is very disturbing and unfortunate that the Kashmir centric regional political parties and politicians are unnecessarily making undue noise over the initiative of the LG so for the investment in the economy of Jammu and Kashmir is concerned. These politicians of Jammu and Kashmir smell false foul play on the Indian and foreign investment in J&K and raise the so called non issue of the demographic change and thus they try to scuttle the much needed investments in Jammu and Kashmir. It seems that the economic issues and mundane issues of bread and butter and economic developments are non issues for these selfish political leaders and they do not like the investment and development of Jammu and Kashmir. These political satraps are only interested in keeping the Kashmir pot boiling and like their political shops to continue to the disadvantage of the common and gullible Kashmiris and thus they oppose the foreign and Indian investment. The Kashmir centric political parties are least interested in the economic and social development of Jammu and Kashmir and are only interested in inciting the religious passions and are as such opposing the investment and global partnership initiatives of Lieutenant Governor. It is very unfortunate and sad story and these selfish politicians will not succeed in their nefarious and selfish designs as the people of the union territory are matured enough to distinguish between the good and bad and they by and large support the investment and business partnership initiated by LG, who also addressed the investors and business leaders at Expo-2020 Dubai. He said that new business partnerships will further strengthen J&K-Dubai, trade and investment ties. The LG signed several important MOUs with Al Maya Group, MATU investments LLC, GL Employment Brokerage LLC and Noon to invest in J&K Expo 2020 Dubai. The LG who presided over the signing ceremony said that this will further strengthen J&K -Dubai trade and investment ties. The businessmen and investors of Dubai will invest in the real estate in Jammu and Kashmir and this is bound to increase the business and employment opportunities in the union territory and it is good for the economy of Jammu and Kashmir. The new investments will give boost to the industrial and economic development of the traditional and technology oriented new avenues of the industry. The common people of Jammu and Kashmir need economic and social development and they by and large are in favour of foreign and Indian investment in the union territory and as such are interested in the economic upliftment and thus want the foreign and Indian investment in trade and industry. There is enough scope in the tourist industry, horticulture sector as well as in the field of handicrafts and medium and small sectors of the industry as for as investment in these sectors are concerned. The political parties of Jammu and Kashmir should not oppose the real estate investment and other investments in the core and traditional sectors. The real estate investment is going to provide the much needed employment to the educated and skilled youth of Jammu and Kashmir and therefore it is a step in the right direction and the selfish political parties should desist from opposing such investment for the interest of the economy of Union Territory. LG has said, “Relationship between India and UAE has matured enough over the years to become enduring Global partners in the 21st century. These are those times in the journey of Jammu and Kashmir were opportunities are in plenty.” LG has also said that in the last twenty eight months, J&K has transformed from a sleeping business destination to the land of opportunities and investment. LG Monaj Sinha has said that this is the new Jammu and Kashmir to reverse the trend of past seven decades by pushing the target of economic growth. Our aim is very clear that is to deepen the trust with the business firms, build the industrial base for the economy and strengthen the social stability. LG has delved deep into the rich civilization of Jammu and Kashmir and has said we are offering you a stake in the present and future of rich civilization, the land of curiosity for intellectuals, travelers, traders and historians. Therefore, land of Jammu and Kashmir offers big business and investment opportunities to the investors both of the Indian and the foreign investors. The LG further said that India and united Arab Emirates -UAE enjoy strong bonds of friendship and historical ties which was further strengthened by the strenuous efforts of prime minister Narendra Modi. It is so good that the Dubai ports giant DP world is planning to build an inland port in Jammu and Kashmir as part of firm commitment by UAE to invest in Jammu and Kashmir. The plan to build the inland port is no mean development by any standard. Thus, foreign and Indian investments will come and remove the poverty and lead to the economic development of Jammu and Kashmir. Now the time has come for the huge investments so that Jammu and Kashmir becomes a hub of industrial and trade activities. Because now there is an atmosphere of peace in J&K and so the time is ripe for investments to boost economy of J&K. Now that the government of LG has removed all the obstacles and provided the ease of doing of business and much needed transparency to the investors and so the investment activity will naturally get a boost and provide much needed employment opportunities so that the poverty is removed and the economic and social development is possible and there is increase in living standards of people of J&K. Any way the people as well as the political parties should embrace the investment culture for the good of the common man. The politicians should not become an obstacle in the investment but should become facilitators in the tempo of investment and thus play their positive role in the development of Jammu and Kashmir.

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