J&K gets its first foreign investment from Dubai Emaar mega-mall project which is going to start very soon.
Jammu and Kashmir is gradually beginning to reap the benefits of peace after enduring decades of terrorism and radical separatist movements. J&K is set to receive its first overseas investment from Dubai-based Emaar, which is set to launch a mega-mall development project.
The Chief Executive of Jammu and Kashmir (CJK) highlighted the potential for private and foreign investment in various sectors while addressing the India-United Arab Emirates (UAE) Investment Summit and meeting with business delegates from across the country in Srinagar. He said that the state has made great progress in terms of structural reforms and the growth trajectory of the state makes it an ideal investment destination. “Today is a momentous occasion,” he said, adding that Emaar’s 10 lakh square foot mall in Srinagar, which is the first foreign direct investment (FDI) in the state, has been inaugurated. He also announced that Land for IT towers in the state has been allocated to Emaar, with an expenditure of Rs 500 crore. He added that the government has made great strides in terms of infrastructure development, modernising and expanding airports, rail networks, and highways to facilitate easier business operations and promote faster economic growth under Prime Minister Narendra Modi’s leadership.
At the investment summit, both foreign and Indian companies demonstrated a strong interest in initiating projects relating to residential schools and hotels, as well as IT Park and ITES units. Additionally, the summit was attended by representatives from the hospital.
