Investment proposals soar to Rs 22000 Cr

Harry Walia. Updated: 1/28/2020 10:29:58 AM Front Page

J&K receives fresh proposal worth Rs 9000 Crore, after GIS curtain-raiser event

JAMMU: As the scheduled month for maiden Investors’ Summit is nearing, the investment in large numbers is also kicking in for the newly created Union territory of Jammu and Kashmir.
The recently held curtain raiser event managed to attract Rs 9000 crore investment, taking the total proposed investment to Rs 22000 crores.
“Around Rs 9000 crore worth investment was proposed for the Union territory of J&K in one-day, that is, during pre-summit investors’ meet cum curtain raiser event. This is in addition to the Rs 13000 crore investment proposed prior to the event,” says an official.
He adds that they have received 66 Expression of Interest (EoIs) that day, translating to Rs 9000 crores of investment.
“As many as 30 industrialists from across the country showed interest to invest in J&K in various sectors. From them, we received 66 EoIs, worth Rs 9000 crore, during the Curtain Raiser event,” he says.
Pertinently, 42 industrialists had shown interest in investing in J&K, even before the Curtain Raiser. They had raised 62 Expression of Interest (EoIs) with the UT administration worth Rs 13000 crores.
“Some of the EoIs have come before the Curtain Raiser, but were revised after the Curtain Raiser, as in the case of JK Cement. So there is a little repetition too,” he remarks.
As such, the total investment proposed for J&K stands at Rs 22000 crores, while the number of EoIs that UT administration has received is 128 from a total of 72 leading organizations.
The official mentions, “The sectors which have attracted investment during the event held in the Capital are tourism, power, education, IT & ITES, agro horticulture, film, animal husbandry, infrastructure, and manufacturing.”
The pre-summit investors’ meet cum curtain raiser was held as a prelude to the J&K Global Investors’ Summit 2020, on 20 January, 2020, in New Delhi, with an intend to invite investments as well as facilitate B2G discussions. More than 350 delegates participated, and more than 45 B2G meetings took place on the occasion.
The News Now has reliably learnt that some of the prominent names like Wipro, JK cement, Dr Lal Path Labs, Mahindra, Servotel group, GAAR group, Indivillage, Haldirams, Ian Macleod Distillers, Medleyy, CultFit, Waghbakri, Boeing, Spicejet, Indian School of business, and Radisson were among the potential investors present at the Curtain Raiser.
The three-day J&K Global Investors’ Summit, with the theme ‘Explore, Invest & Grow’, that is, Explore (the opportunities in industries, infrastructure, policies in the region), Invest (in the new and existing investment options); Grow (prosper via incentives and strategic advantages in key sectors), will kick off in April this year in the twin cities of Jammu and Srinagar.
The mega event has fourteen focus areas having investment opportunities, namely - Agriculture & Mulberry production for silk, Agro & Food Processing, Education & Skill Development, Film Sector, Handloom & Handicraft, Horticulture & Post Harvest Management, Logistics Sector, Pharmaceuticals Sector, Manufacture Sector, Infrastructure & Real Estate, IT & ITES, Healthcare Sector, Milk Poultry & Wool Production, Renewable Energy, Tourism & Hospitality.


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