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news details
MNCs to foray into Kashmir alone as Admin ignores Jammu!
9/14/2019 10:57:43 PM
Early Times Report
Jammu, Sept 14: With the revocation of special status, over two dozen leading firms including a Singapore based multinational company (MNC), have shown interest to open their venture in restive Kashmir alone as the administration has failed show the potential of Jammu region for business activity.
Official sources said some of most leading firms including Reliance, Dalmia, Indian School of Business and a Singapore based firm have submitted Expression of Interest (EoI) before the administration of Jammu and Kashmir to open business venture in the valley.
The only incentive such firms have sought to invest in Kashmir is tax exemption for few years of business and want to give a big share of the deal to valley.
Sources said the firms are willing to give 80% of employment opportunities to local Kashmiris as the incentive for starting the venture from the trouble torn region. Sources said the administration has mobilized the resources to identify the industrial estate land in the first phase that would be given to such firms to start their venture.
The firms are likely to get land in Srinagar or on its suburbs. Sources said that the main reason why the leading firms are interested to invest in Kashmir alone instead of Jammu as well in that the administration has been unable to inform the business community about the benefits of investing in Jammu which is actually a peaceful region.
Senior officials on the condition of anonymity said the entire focus of the administration was on Kashmir alone as a result of which Jammu is being neglected. "Given the fact that there is no militancy or separatist sentiments in Jammu, the administration should first invite the business players to open their ventures in Jammu region till situation improves in Kashmir. But ironically entire focus is on Kashmir again, which is even not happy on abrogation of the special status," said a senior official on the condition of anonymity.
Observers said that it was the responsibly of Jammu civil society and the business community in the Jammu to raise issue with the administration. Despite repeated attempts the concerned couldn't be contacted for the comment but a senior official in administration confirmed that EOIs have been submitted by the some key business houses to run their business activities in Kashmir.
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