: JK ready for investors #FinanceIndia #StockMarketNEWS #Business New Delhi/Srinagar: The historic Real Estate Summit organised by Jammu and Kashmir Government in the last week of December, 2021 in

@StockMarketNEWS Tue 25 Jan, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

JK ready for investors #FinanceIndia #StockMarketNEWS #Business
New Delhi/Srinagar: The historic Real Estate Summit organised by Jammu and Kashmir Government in the last week of December, 2021 in Jammu, opened up the Union Territory for the investors from across the country.

The summit was held with the broader goals of ensuring economic prosperity, employment opportunities and financial strengthening of the local business groups. It witnessed investment agreements to the tune of Rs 18,300 crore.

It’s for the first time in the past 70-years that J&K has received such huge investment proposals. Till August 5, 2019 when the Centre announced its decision to abrogate J&K’s special status and divided it into two Union Territories no outsider was eligible to invest in J&K due to it being a so-called special state.

The special state tag deprived J&K of benefits and the opportunities for seven decades. But during the past two years things have changed as the erstwhile princely state has started welcoming the investors with open arms and mind.

The J&K is all set to transform into a vibrant industrial ecosystem, which in the coming years would house the offices of big companies as the Union Territory is all set to receive massive investment. Opportunities have already started knocking at the doors of common citizens and they are out to grab these.

Development holds the key to transform the lives of people. The present dispensation in Jammu and Kashmir has embarked on a mission to take the Union Territory to new heights and improve the living standards of a common man. The decisions that are being taken are aimed at bringing J&K at par with the other parts of the country.

The Real Estate Summit in Jammu was held to send a message that any Indian citizen can buy land in J&K. In the summit 39 MoUs were signed. These included investments in the residential, commercial, infrastructure and film sectors. The next such summitis slated to be held in Srinagar in May this year.

The Real Estate Summit triggered sharp reactions from the Kashmir-based political parties. These formations termed it as a move to “put up the Union Territory for sale???. These parties claimed that J&Ks special status was “illegally revoked to dehumanise, dispossess & disempower the only Muslim majority state in India and to change its demography???.

It’s unfortunate that the traditional politicians tried to give a communal colour to a sincere move envisaged to empower the common people of J&K. Attracting investors to a place which did not witness any development for the past 70-years is not putting it up for sale. Nor is it a move to disempower or dispossess the people.