CS in London urges investors to invest in J&K, reap Govt benefits

‘Now J&K market fully integrated with national market’
The chief secretary extended an invitation to the delegates to come and explore vast investment opportunities available in J&K.
The chief secretary extended an invitation to the delegates to come and explore vast investment opportunities available in J&K.Special arrangement

London: Chief Secretary Arun Kumar Mehta Thursday beckoned the global investors to come and invest in the unexplored land of opportunities of J&K for reaping the benefits extended by the government there.

An official spokesman in a statement issued here said that Mehta made these remarks while speaking as guest of honour at the London Global Convention 2022 on Corporate Governance and Sustainability held by the Institute of Directors, India under the theme ‘Building an Effective Board that Works and Top Global Trends’ here at London.

The chief secretary extended an invitation to the delegates to come and explore vast investment opportunities available in J&K.

He urged them to support J&K in its efforts to transform J&K into a success story of optimism, prosperity, and growth.

The chief secretary said that his participation in this global event aims at building trust amongst the global business fraternity and showcasing the strengths of J&K as a potential investment destination.

He said that the Centre was working towards making India a hub of the global supply chain under the ‘Atmanirbhar Bharat’ campaign.

The chief secretary recollected that a host of initiatives like ‘Make in India’, ‘Vocal for Local’, and promoting exports under ‘District as Export Hub’ and market linkages for MSME industries to both domestic and global value chains had been rolled out in this direction.

He said that in this backdrop, the Jammu and Kashmir Industrial Policy (JKIP) 2021-30 was a welcome change from the previous industrial policies and that the industrial ecosystem in J&K was set to witness a paradigm shift.

Talking about the local initiatives he said that the J&K government took bold and decisive steps of breaking the shackles in the path of development and J&K was fast moving towards integration with the national economic trajectory to become a prosperous and self-reliant union territory.

He said that momentous decisions had been taken which had changed the constitutional framework, removed artificial legal and economic barriers between J&K and the rest of the country, and fully integrated the J&K market with the national market and at par with other parts of the country.

The chief secretary told the gathering that the people of J&K could now fully enjoy the rights and benefits enjoyed by all other citizens of India rather than just a limited set of rights and benefits.

He said that a strong grassroots democracy had been set up with genuine participation of the people at the lowest rungs of governance in Panchayats and Urban Local Bodies (ULBs). The chief secretary told the participants that the government was committed to transforming J&K into a prosperous and progressive region and presenting a new version of J&K that would amply represent its rich tradition of hospitality, warmth, and inclusiveness and globally acclaimed status as “paradise on earth”. 

For further encouragement of the investors, he told them that around 14 million tourists visited J&K this year.

The chief secretary said that the administration had of late initiated measures to promote hidden and offbeat tourist destinations offering new and varied experiences to visitors. He said that J&K offers huge potential in adventure, pilgrimage, spiritual, and health tourism.

The chief secretary said that J&K had a robust economy centered around agriculture, horticulture, and the services sector.

“Its excellent land and water resources are a major attraction,” he said. Regarding the infrastructure development, the chief secretary said that the long-pending projects had been completed or speeded up for bolstering associated policies.

He said that J&K took a plethora of infrastructure upgradation steps including the construction of ring roads, national highways, railway projects, metro projects, urban projects, health, power, and irrigation projects, and sports infrastructure at a rapid pace.

The chief secretary said that good governance practices had brought a sense of discipline and accountability to the government system.

He said that the Centre had introduced the new scheme for the holistic development of J&K.

Giving details, the chief secretary said that the scheme lays special focus on equitable development through a graded incentive structure that rewards both manufacturing and service sectors in remote areas of J&K.

He said that the scheme was approved with a total outlay of Rs 28,400 crore (3.7 billion USD) up to the year 2025.

Regarding the promotion of transparency in the region, the chief secretary said that the administration had come up with a new industrial land allotment policy, and the J&K Private Industrial Estate Development Policy incorporated mechanisms for public-private partnership in the industrial sector.

He also talked about the land use change policy for industrial development, FDI policy, and other factors for a smooth roll-out of a new era of growth in J&K.

The chief secretary also provided details about the launch of a single window portal as a one-stop solution for attaining all the approvals and permissions in a time-bound manner. He said that about 215 services were active on the single-window portal ushering in the age of less government and more governance in its real sense.

The chief secretary thanked the organisers and participants for their roles and for their prospect of being part of J&K's mutual growth story.

The four-day convention held between November 8 to 12 is being attended by leaders, policy makers, academicians, jurists, social thinkers, and professionals in business, finance, corporate governance, and sustainability fields from across the world. The last annual global convention was held in 2019 in London with a record participation of 400 delegates both globally and from India.

More than 24 countries participated in the event.

Many international brands and leading global companies like Mark and spencer (UK), Rolls Royce (UK), Unilever (UK), Coca-Cola (USA), Doha Bank (Qatar), Glaxo Healthcare (UK), Grande (France), Sekisui chemicals (Japan), Stantec Inc (Canada), IRPC (Thailand), Emirates National Oil company (UAE), and NASDAQ (USA) have been part of this event.

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