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Jammu & Kashmir: First Ever Global Investors Summit in October

Jammu & Kashmir: First-Ever Global Investors Summit is to be held in Jammu & Kashmir from 12 to 14 October this year. The details of this summit were announced by Principal Secretary (Commerce & Industry), J&K, NK Chaudhary.

Aug 14, 2019 11:04 IST
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First-Ever Global Investors Summit is to be held in Jammu & Kashmir from 12 to 14 October this year. The details of this summit were announced by Principal Secretary (Commerce & Industry), J&K, NK Chaudhary. This step is being seen as a major push to bring investment in the Jammu & Kashmir and Ladakh region, that, in a recent move from central government bifurcated in two Union Territories.

The Principal Secretary (Commerce & Industry), J&K, NK Chaudhary said that "J&K will host first ever Investors Summit from October 12 to 14 and mega roadshows to be organised in India and abroad. The inaugural session of this summit will be held at Srinagar on October 12, while the concluding session will be held at Jammu on October 14".

He also expressed reservation on the amount of investment expected from this summit, he said, " It is not necessary that the investment will be known on the day of summit, it can be known either before, during or after. No government can give a figure in advance." The roadshows across India to promote this event will be organised.

Earlier, soon after revoking Article 370 and 35-A, in his address to the nation, the Prime Minister Narendra Modi had said that the people of J&K and Ladakh would have various opportunities for development and prosperity. PM Modi also called upon the industrialists to invest in J&K and Ladakh.

"Responding to the call of PM Narendra Modi Ji, we stand committed to the needs of the people of Jammu and Kashmir and Ladakh. You will see several announcements for the Jammu and Kashmir and Ladakh in the coming days", said RIL Chairman and Managing Director, Mukesh Ambani in annual AGM.

Background:

On August 6, the central government scrapped Article 370 and Article 35-a of the Indian constitution, which provided Jammu & Kashmir special status that includes own flag, laws etc. The government also bifurcated the state of Jammu & Kashmir into Union Territory of Jammu & Kashmir and Ladakh.

 

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