Barriers to businesses in Jammu Kashmir removed: LG Manoj Sinha

Ground Report | New Delhi: Jammu Kashmir businesses; Titans of India’s Real Estate Sector, including promoters in Residential, Retail & Commercial space, Entertainment Industry, Tourism & Hospitality, Logistics & Warehousing, and Financing Institutions came together for the growth of J&K at the first-ever ‘Real Estate Summit-2021’.

In presence of Hardeep Singh Puri, Union Housing & Urban Affairs Minister; Manoj Sinha, Lieutenant Governor, J&K and Dr. Jitendra Singh; Union MoS, 39 MoUs worth Rs 18,300 Crore were signed today to foster growth and development in Jammu and Kashmir. It includes investments in the residential, commercial, infrastructure, and film sectors.

During his address, the Union Minister, Hardeep Singh Puri said that Real Estate, being the second largest employer in the country will create innumerable opportunities for economic growth in J&K.

The natural endowments in the UT of J&K and resilience of its people are second to none in the world which now need to be translated into economic development, prosperity and ease of living, said the Union Minister.

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The Lt Governor, Manoj Sinha termed the event as a historic milestone in J&K’s Real Estate sector.

The last few years have seen tremendous change in terms of good governance, delivering development & transforming the infrastructure of the UT. Barriers to businesses in J&K have been removed. The UT of Jammu & Kashmir is now an attractive place to do business and invest, said the Lt Governor.  

The Lt Governor announced that the next ‘Real Estate Summit will be organized in Srinagar on 21st and 22nd May 2022.

The development of local businesses is imperative in scripting the growth story of J&K. Besides national players in real estate, local developers of J&K will also be at the focus of this new dawn of the development of the real estate sector in the UT, he added.

The Lt Governor expressed his gratitude to the Hon’ble Prime Minister Shri Narendra Modi and the Hon’ble Union Minister for Housing & Urban Affairs, Shri Hardeep Singh Puri for revolutionizing the real estate sector in J&K.

The multiplier effect of the first-ever Real Estate Summit in J&K will be felt across the entire UT in coming years, added the Lt Governor.  (Jammu Kashmir businesses)

Recently, we have made changes in the Land Use Policy so that the companies eager to set up industries do not face the problem of land, said the Lt Governor.

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Despite being endowed with immense natural wealth, business opportunities and excellent human capital, the progress of the industries in J&K were stalled. Since, 5th August 2019, J&K is undergoing a massive transformation, and Industries from all over the country are seeing Jammu and Kashmir as their preferred destination for investments and business ventures, observed the Lt Governor.

Former chief ministers Mehbooba Mufti and Omar Abdullah accused the Centre for “putting up J&K up for sale”.

“J&Ks special status was illegally revoked to dehumanise, dispossess & disempower the only muslim majority state in India.GOIs brazen loot & sale of our resources shows that the sole motive is to annihilate our identity & change the demography,” tweeted Mehbooba Mufti.

“Once again the true intentions of the government are brought to the fore.While offering to secure the land, jobs, domicile laws & identity of the people of Ladakh,J&K is being put up for sale.People of Jammu should beware,“investors” will buy up land in Jammu long before Kashmir,” Omar Abdullah wrote.

People’s Democratic Front (PDF) Hakeem Yaseen on Monday said that development should not be at the cost of people’s rights to their land and employment. He said protection of their domicile rights was supreme to the people which can not be compromised.

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