: Over 30-member delegation visits JK, to invest over Rs 70,000 crore in next 6 months #IndiaNEWS #INSIGHT Srinagar, April 11 | The global perspective about Jammu and Kashmir is changing fast. Known

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Over 30-member delegation visits JK, to invest over Rs 70,000 crore in next 6 months #IndiaNEWS #INSIGHT
Srinagar, April 11 | The global perspective about Jammu and Kashmir is changing fast. Known as one of the most sought-after tourist destinations of India, it is now attracting investors eyeballs for all right reasons.
A delegation of over 30 CEOs from Gulf countries came to the valley in March to look for business and investment opportunities in the region. The visit was coordinated by Bal Krishen, CEO of Century Finance and who was a resident of Jammu and Kashmirs Doda before relocating to Dubai.
The Union Territory expects over Rs 70,000 crore investment in the next six months. There are members from the Gulf Cooperation Council (GCC) countries Sharjah, Dubai, Abu Dhabi; also people from Hong Kong and Saudi Arabia visited the Union Territory, JKs Principal Secretary Industries and Commerce, Ranjan Prakash Thakur, said.
The visit took place a month after India and the United Arab Emirates (UAE) signed a free trade agreement. Jammu and Kashmirs Lt Governor had recently visited the UAE and invited individuals and corporates to invest in the Union Territory.
There were around 12 Indian-origin businessmen also as part of the delegation. Krishen promised investment of 0 million in the region to build three hotels and one commercial-cum-residential complex in the Union Territory. He is hopeful that these upcoming projects will create 700 direct jobs and several indirect jobs.
In an interview to News18 Krishen said: It is a commitment from my side and my group that we are going to invest this amount in JK. We are going to build three hotels and one residential complex there. When Lieutenant Governor of Jammu and Kashmir Manoj Sinha was in Dubai, he interacted with a lot of groups, individuals, corporate groups and institutions as he invited everyone. I think that every individual and corporate house should participate in the development of Jammu and Kashmir and even the Union Territory should work towards making it a favourite (investment) destination of the world.
Krishen, who himself is from Doda, said: I am attached to my native place and my district in Jammu and Kashmir. Almost everyone feels the same. My first hotel, I would prefer in Doda, second hotel in Jammu and third in Kashmir. And these will be star-rated hotels.
Keeping in mind the Covid situation, we would be doing the groundbreaking by the end of this quarter, or the beginning of the second quarter. Hopefully, we will finish all projects in less than three years. These three hotels and residential complex will generate more than 700 direct jobs and thousands of indirect jobs.
I think this is the right time to invest in the UT, we should not wait for the government to do everything.

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