PM Modi to visit J&K on Sunday to push ₹39,000 crore investments

Dalip Singh | | Updated on: Apr 19, 2022
Prime Minister Narendra modi

Prime Minister Narendra modi | Photo Credit: -

The Prime Minister will also reach out to Panchayats across the country on Panchayati Raj Diwas

 A strong UAE business delegation will be present to support Prime Minister Narendra Modi’s ₹39,000 crore investment push in Jammu and Kashmir during his Sunday’s visit to the union territory. 

On Panchayati Raj Diwas, Modi will be in Jammu to launch a series of development and investment initiatives besides reaching out to panchayats from across the country.

on his maiden visit to J&K since abrogation of Article 370 in August of 2019, the Prime Minister is attempting to change the narrative of the union territory ahead of elections that will take place after the delimitation exercise is completed.

Leading MNCs from UAE such as DP World, Emaar Properties, Lulu Group, Royal Strategic Partners and WizzFinancial, have pledged a total investment of about 3,000 crore iin sectors such as infrastructure, IT, hospitality and food processing. 

J&K principal secretary industry Ranjan Thakur told BusinessLine that about ₹39,000 has already been committed and land for 4,306 units in Jammu and Kashmir is either being or has already been allotted. “We are trying to bring in selective and high tech investment, keeping the environment and people in mind. The UT administration is bridging three decades of lack of development. Jammu and Kashmir was never exploited the way it should have been for the larger good of people and the changes are visible on the ground,” Thakur commented.

Top representatives

UAE ambassador to India Dr Ahmed AlBanna will lead the delegation of top representatives of industries, which would include DP World Group chairman and CEO Sultan Ahmed bin Sulayem and Emaar Properties Founder and Managing Director Mohamed Ali Alabbar and Lulu Group Chairman and Managing Director Yusuff Ali MA, said government sources. Manoj Sinha since becoming J&K Lieutenant Governor has made efforts to bring investment from Gulf countries to boost local fiscal health. 

The UT administration is keen to engage Qatar and Saudi Arabia in the Centre’s development bid that is expected to generate about 2.4 lakh direct jobs once the economy boosting steps take off, claims Thakur.

Besides that JSW is committed to establish a steel sheet processing unit, a major hotel chain has expressed interest in an ITDC asset in Gulmarg.  

Both the regions of Jammu and Kashmir will uniformly benefit from the proposed investment of ₹52,155 crore in the union territory. As per data compiled by the UT administration, 19,125 kanals of land have been alloted in Jammu region to 1,105 applicants which is expected to bring investments worth ₹17, 968 crore. While 19,897 kanals of land have been earmarked in Kashmir region to 3,339 applicants which is expected to bring investments worth ₹24,187 crore.  

The move shows that the centre is willing to take the risk of delinking development and growth from the security issue — a confidence building measure to check Pakistan’s design to create perpetual instability and poverty through the use of terror.

Modi will inaugurate Banihal-Qazigund tunnel road constructed by Border Roads Organisation, lay foundation for two power projects — 850 MW in Ratle and 540 MW in Kwar — in Jammu and five expressways to be developed by National Highway Authority of India (NHAI) and 100 jan aushadhi kendras in UT. 

A medicity is also being developed in the Jammu region by Apollo Hospitals.

Published on April 19, 2022
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