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| Except assurances J&K achieves nothing from ‘Dubai-summit’ | | • Huge amount spent on event from coffer of cash-starved UT | | Early Times Report
Jammu, Jan 30: Notwithstanding tall claims of the Jammu and Kashmir Government, the Union Territory has achieved nothing except assurances from the much-touted Dubai summit.
Global investors have pr
omised to invest in Jammu and Kashmir but as of now nothing concrete has been done so far.
Highly placed sources said that after the summit, there is no progress in assurances made by the global investors to invest in the Union Territory of Jammu and Kashmir.
After the summit, the Jammu and Kashmir government had announced in the first week of this month that UAE-based retail major Lulu group would invest R 200 crore in Jammu and Kashmir to set up a food processing and logistic hub.
Importantly a team of Lulu Group had visited Jammu and Kashmir in October 2019. During the visit to the same group, it was announced that this group would invest in Jammu and Kashmir very soon.
It was announced that the Group was also planning to open procurement offices at Jammu and Srinagar to facilitate the suppliers/ vendors.
The Jammu and Kashmir at that time announced that Lulu Group proposed a week-long campaign to promote the products from Jammu & Kashmir across their stores in Middle East.
The group had also dwelt on a proposal regarding the idea of two business models of export; either the business groups will send their products to Mumbai or directly export to Dubai.
After passing more than two years, nothing concrete has been done so far.
Highly placed sources in the administration said that a huge amount has been spent from the coffer of cash-starved Union Territory of Jammu and Kashmir on Dubai summit without any big achievement so far.
Meanwhile, Jammu and Kashmir government on Sunday claimed that the recently concluded Dubai Expo has opened the gateway for industrial investments for the entire Jammu and Kashmir which will be the ‘Dawn of New Era’ for industrial development here.
“While participating in the Expo, the Jammu and Kashmir government received an encouraging response from Dubai based industrialists for investment. Several Global investors are now eyeing the untapped market and industrial potential of Jammu and Kashmir”, the government claimed. |
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