Financial Daily from THE HINDU group of publications
Friday, Dec 13, 2002
Financial Daily from THE HINDU group of publications Friday, Dec 13, 2002 |
|
|
|
|
|
Industry & Economy
-
Economy Mufti urges India Inc to invest in Kashmir Our Bureau
INVESTING IN KASHMIR IS INVESTING IN PEACE: The Jammu and Kashmir Chief Minister, Mr Mufti Mohammad Sayeed, along with Dr A.C. Muthiah, President-elect, FICCI, at a meet in the Capital on Thursday. Mr Mufti urged the business community to take initiatives for investing in the State.
NEW DELHI, Dec. 12 THE Chief Minister of Jammu & Kashmir, Mr Mufti Mohammad Sayeed, has urged the business community to take initiatives in investing in the State. Addressing a special session on "Kashmir: A new ray of hope" organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here today as part of its platinum jubilee celebrations, the Chief Minister said "investing in Kashmir is investing in peace". He also mentioned that the State Government has planned to embark on a programme of providing quality infrastructure that would serve the socio-economic sectors of the State. The Chief Minister highlighted certain initiatives that the State Government has taken in this direction. Mr Sayeed, however, observed that power shortage has been a bane of the State. He said the State has potential of generating 20,000 MW of power from its rivers, but it was unable to do so as it is constrained due to the Indus Water Treaty between Indian and Pakistan. Mr Sayeed informed that the State was seeking investments from various countries and corporate houses to invest both in big and small hydro projects in the State. In this regard, he also mentioned that talks are in an advanced stage with Norway for developing hydroelectric projects in Kashmir. On the issue of the pitiable condition of highways in the State, the Chief Minister said that the proposed upgradation of the existing highways into four-lane expressways has been a welcome step. He was of the view that this would not only boost the economy but also increase the inflow of tourists into Kashmir. Talking about the delayed introduction of railways in the State, he said that although the proposal to bring railways into the valley was conceived by the Central Government as early as 1983, it could take off due to various reasons. He assured that both the State and Centre were committed to a time-bound completion of this ambitious project with the expert guidance from agencies such as the Konkan Railways and IRCON. The Chief Minister further stated that the Jammu-Udhampur link is expected to be complete by March 2004 while the Jammu-Katra section would be completed by 2005. He was of the view that the project once completed would not only usher in a smooth movement of goods and services but also attract tourists on account of the panoramic view it would encompass. The Chief Minister said the State Government was committed to the development of sectors such as bio-technology, agro-based industries and horticulture. On the issue of horticulture he said the State was embarking upon a policy of grading and quality control and the Centre has lent support by sanctioning an amount of Rs 100 crore towards this.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|