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Government of Dubai and J&K Government ink MoU aimed at scaling up Industrial Development in the UT

This MoU reaffirms our commitment to build Aatm Nirbhar Jammu Kashmir: Lt Governor Manoj Sinha

SRINAGAR: In a historic event, the Government of Dubai and the Government of Jammu Kashmir today signed a Memorandum of Understanding (MoU), aimed at developing the Industrial sector and various business enterprises in the UT.

Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Lieutenant Governor of J&K, Manoj Sinha and H.E.Sultan Ahmed Bin Sulayem, Chairman of DP World addressed the media on the occasion.

Speaking at a press conference, Piyush Goyal highlighted the significance of the day and said that with the signing of the MoU with Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.

This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role in that as well.

This MoU is a significant move towards rapid development and Industrial growth in J&K. It is a milestone after which the investment will pour in from the entire globe and is a big developmental push. 

Different entities from Dubai have shown keen interest in investment. Development has to be aspired on all fronts and we are on track. Recent industrial package of Rs 28,400 Crore is a testimony towards ensured development of J&K, the Union Minister added.

The Lt Governor, Manoj Sinha termed the occasion as a historic day for the Dubai-Jammu Kashmir friendship, and for the developmental journey of Jammu and Kashmir Union Territory.

The Lt Governor said that the MoU is the beginning of a new partnership between the Government of Dubai and J&K which will help the Union Territory to scale new heights in Industrialization and sustainable growth.

It is aimed at developing various economic activities including industrial parks, IT Towers, multi-purpose towers, logistics, medical college, super specialty hospital and many other projects, he added.

Expressing his gratitude to Hon'ble Prime Minister Narendra Modi and Home Minister Amit Shah for unprecedented development of the UT, the Lt Governor said that the Rs 28,400 Crore Industrial Development Scheme is already attracting huge industrial investment in the UT.

Jammu & Kashmir has received a proposal worth Rs 30,000 crores in just a few months after the second wave of the pandemic and we hope to get the proposals of around Rs 60,000 crores in the coming times, he added.

This MoU is about Jammu Kashmir's prospect and I am confident it will set the pace in the business sector of the future that is key to the prosperity of people. It renews the foundation of cooperation and reaffirms the government's commitment to build Aatm-Nirbhar Jammu Kashmir, that will immensely contribute to Aatm-Nirbhar Bharat, observed the Lt Governor.

"The government is committed to develop a new industrial culture in Jammu & Kashmir, create greater bonds and enhance the scope of investments in future to build the world's best business enterprises in the UT", said the Lt Governor.

We have developed an ecosystem for incubating and unfurling start-ups in various sectors of the Union Territory of Jammu Kashmir. With this MoU, the Government of J&K and Government of Dubai have drawn out strategy on future investments, observed the Lt Governor.

The Lt Governor also spoke on the deep relationship shared by Jammu Kashmir and Dubai based on the common values, mutual trust, respect and fair trade of popular products.

The Government of Dubai is willing to explore the opportunity of potential cooperation with the government of Jammu & Kashmir. 

The presence of Sultan Ahmed Bin Sulayem in today's conference and our initiative to start the first International flight to Sharjah from 23rd October reflects our commitment to foster strong business cooperation, the Lt Governor said.

The Lt Governor also thanked Union Minister for Commerce & Industry Piyush Goyal for giving a focused attention towards creating a smart industrial ecosystem in J&K, and tirelessly making efforts to bring investment and build an efficient pool of skilled human capital for sustained growth.

H.E. Sultan Ahmed Bin Sulayem, Group Chairman & CEO of DP World, Dubai expressed confidence that the MoU would bring many opportunities to transform the Industrial sector in Jammu Kashmir. He informed that DP World is a leading provider of smart logistics solutions, enabling the flow of trade across the globe.

Working on the lines of Make in India, J&K will be connected to all major ports in India for transporting the unique products and Agriculture, Horticulture produce across the country and the world, he added

Dr Arun Kumar Mehta, Chief Secretary; Yuvraj Narayan, Group Chief Financial, Strategy and Business Officer, DP World; Ranjan Prakash Thakur, Principal Secretary Industries and Commerce, J&K; Team members of DP World, besides senior officials of the J&K Government were present on the occasion.

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