UAE-based profile delegation in Kashmir for four days 

A high-level delegation consisting of CEOs of 30-plus companies from Gulf countries arrived in Srinagar city on Sunday evening, to solidify the investment opportunities in the hospitality, tourism and entrepreneurship sectors of the state.

The delegation is headed by the CEO of Century Financial, Bal Krishen. According to officials, the programme is scheduled for at least four-days, has taken place just two months after the Lt. Governor Manoj Sinha made a Dubai visit in January, in which several memorandums were signed by significant companies including LuLu Group, Al Maya Group, Century Financial, MATU Investments LLC, GL Employment Brokerage LLC & Noon Group in various sectors.

An official told India News Stream that the high-profile programme comes amidst the consistent initiatives taken by the present dispensation towards bringing infrastructure for export promotion and entrepreneur-friendly atmosphere.

However, the delegation is scheduled to visit the tourist hubs like Pahalgam and Gulmarg in order to explore the opportunities for investment in the region, and is likely to attend one event in Sher-e-Kashmir International Convention Center in Srinagar.

Interim-administrator of the Union Territory, Manoj Sinha will be hosting the delegation. According to officials, the programme will have a pitch presentation of several exporters, start-up, women entrepreneurs, products display and a brief overview of the silk and cottage industries.

Earlier this January, Century Financial had signed a memorandum of understanding which will pave the way for investing at least $100 million in Jammu and Kashmir, the investment was deemed for three hostels and one commercial-residential complex in the region.

As per these investment pledges, Dubai’s Emaar Group had agreed that it will develop a 500,000 square foot shopping mall in Srinagar. Similarly, Lulu Group will be investing 100 million AED to set up a food processing and logistic hub. And likewise, DP World, the Dubai-based port operator, will also be building a dry port in Jammu and Kashmir over a 250 acre site earmarked for the inland port facility. The port will be the union territory’s first dry port in Jammu province, with another location reportedly under consideration near Srinagar to boost the Kashmir’s INR 2,500 crore fresh fruit industry

Even Prime Minister Narendra Modi reiterated at the India-UAE Virtual Summit that was held in February that New Delhi “welcomes investment by UAE in all sectors, including logistics, healthcare and hospitality in Jammu and Kashmir.”

Rajan Prakash Thakur, the Principal Secretary of Industry and Commerce, J&K, has recently maintained that the opening of direct flight between Srinagar to Sharjah in October 2021, was taken in this pretext to highlight the direct and sustained connectivity between the UAE and J&K. “Kashmir valley will be a key destination for the development of hotels, hospitals, handloom and horticulture while Jammu will be focusing on growing sectors such as production, pharma, inland container depot and real estate,” Thakur stressed. – INDIA NEWS STREAM