J&K beckons Karnataka firms to invest in 'paradise'

News Karnataka

J&K beckons Karnataka firms to invest in 'paradise'

J&K beckons Karnataka firms to invest in 'paradise'

IANS   ¦    Feb 17, 2020 11:06:33 PM (IST)

J&K beckons Karnataka firms to invest in \'paradise\'-1Bengaluru: The newly formed Union Territory (UT) of Jammu-Kashmir on Monday held a road show in this tech city for the upcoming 'Global Investors Summit' and to invite Karnataka-based companies to invest in the northern state, popularly known as 'paradise on earth' for its picturesque landscape.

"The Union Territory (UT) is open for investments and business from companies and entrepreneurs from across the country and overseas, with a new industrial policy and a host of incentives and promotions," J&K Principal Secretary Rohit Kansal told India Inc. at the event.

Besides taking steps to restore normalcy on priority, the new administration is opening up for investments from outside the state with huge opportunities to set up enterprises and create thousands of jobs in manufacturing, services, agriculture, horticulture and floriculture for which the state is well-known.

"As 55 per cent of the state's GDP comes from services, 28 per cent from manufacturing and 17.5 per cent from agriculture, we have opened up 14 sectors across the board for investments and employment opportunities," said Kansal.

Addressing the captains of industry, J&K Governor's advisor Kewal Kumar Sharma said a new version of J&K 2.0 is set to emerge as the UT is at par with the rest of the country.

"The purpose of the road show is to spread awareness about our unexplored locations and trade opportunities across 14 sectors," said Sharma on the occasion.

The UT's IT secretary Bipul Pathak said the government was setting up two IT parks in Jammu and Srinagar for plug-and-play facility as the opportunities for software services and products were immense for skilled manpower.

"We are offering productive incentives and relaxations in all industry sectors," Pathak added.

The delegation, comprising also of ITIDC managing director Simrandeep Singh and agriculture and horticulture secretary Manzoon Ahmad Lone, held B2B and B2G meetings on the margins of the day-long summit.

About 150 delegates from diverse sectors attended the road show.

The sectors identified for growth include tourism, film shooting, horticulture and post-harvest management, agro and food-processing, mulberry production for silk, health and pharmaceuticals, manufacturing, IT/ITeS, renewable energy, infrastructure and real estate, handlooms and handicrafts and education.

"The summit, likely to be held in May, aims to revitalise these sectors, imbuing new dynamism into the region's economy," added Kansal.

The event was organised by the Jammu and Kashmir Trade Promotion Organization (JKTPO), along with the Confederation of Indian Industry (CII) as the national partner and Ernst & Young (E&Y) as the knowledge partner.