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Home / Chandigarh / J&K govt signs Rs 2,450-cr MoUs in Mumbai

J&K govt signs Rs 2,450-cr MoUs in Mumbai

INVESTOR SUMMIT PUSH Organises roadshow in country’s financial capital to draw investment in entertainment, manufacturing, food-processing, film and tourism sectors

chandigarh Updated: Feb 22, 2020, 12:11 IST
HT Correspondent
HT Correspondent
Hindustan Times, Chandigarh
Jammu and Kashmir lieutenant governor GC Murmu (left) with Confederation of Indian Industry (CII ) president Uday Kotak during the CII Jammu-Kashmir Investors Summit in Mumbai on Friday.
Jammu and Kashmir lieutenant governor GC Murmu (left) with Confederation of Indian Industry (CII ) president Uday Kotak during the CII Jammu-Kashmir Investors Summit in Mumbai on Friday. (PTI Photo)

JAMMU: Buoyed by the encouraging response to its roadshows in Bengaluru and Kolkata for the Global Investors’ Summit in April or May, the Jammu and Kashmir administration organised its third meet in Mumbai on Friday and signed 24 memoranda of understanding (MoUs) worth Rs 2,450 crore with corporate heads and film industry leaders.

J&K lieutenant governor GC Murmu, who led the delegation, briefed the business leaders about investment opportunities and projects in the entertainment, manufacturing, food-processing, film and tourism sectors. Murmu’s adviser Kewal Kumar Sharma and chief secretary BVR Subrahmanyam attended the roundtable discussions to seek investment for boosting industrial growth and job opportunities.

Thirty B2G (business to government) meetings were held across sectors.

Investors were invited to set up film studios, film cities, and multiplexes, according to the new draft film and tourism policy.

A video of the investment potential of the Union territory was shown followed by a presentation by Manoj Kumar Dwivedi, commissioner secretary, industries and commerce. He highlighted 14 key sectors to improve the industrial ecosystem in J&K.

Arun Kumar Mehta, the financial commissioner, talked about the state of the UT’s economy and the growth in GST, which is 40% at present. He emphasised on the scope for private sector investment.

TALKING TRADE

Kashmira Mewawala, the chairman of the CII Maharashtra State Council, said: “J&K has shown interest in providing an enabling environment. The roadshow is a good time to tap opportunities.”

Vinod Haritwal, CEO and director, Grauer and Weil (India) Ltd, shared his experience of working in J&K. He allayed apprehensions of security-related disturbances impacting the growth and profits in the industrial sector.

J&K-based industrialist SK Bansal shared the dais.

Industry leaders, including representatives from Taj, Carnival Films, Volkswagen India, Hinduja, Ambuja Cements, Mahindra Holidays, Kotak Mahindra Bank, Bayer, and Lark were among the 150 delegates present on the occasion.

The administration has planned similar roadshows in the industrial and economic hubs of Hyderabad, Chennai and Ahmedabad next month.

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