In the recent past J&K government has signed many MoUs with Dubai based firms in order to give the boost to industrial growth.
A MoU has been signed between the Government of J&K and National Real Estate Development Council (NAREDCO) for skilling 10,000 persons per year in seven trades in real estate under NULM (National Urban Livelihoods Mission) in Jammu & Kashmir.
The policy changes introduced in J&K were showcased to potential investors at the world stage during the visit of Lieutenant Governor of J&K to Dubai Expo- 2020. The Lieutenant Governor also inaugurated Jammu and Kashmir Promotion Week at the Lu- Lu Hypermarket, Dubai in which goods like GI tagged Saffron, famous varieties of apples, Kashmiri art and crafts, among others were showcased. A MoU with the Government of Dubai and other Global investors was also signed during this visit.
The road to industrial empowerment and comprehensive progress across several indicators in J&K is expected to present many challenges. However, with the overhaul of laws and rules, institutional support and competitive ecosystem being developed in J&K, it is expected that the bottlenecks will be resolved. J&K, in stark contrast with the economic isolation of the past, is very well poised to emerge as a regional and national investment cluster.
The way the J & K government is keeping its pace for the development of industries it seems that the policy is paying good dividends. Kashmir is emerging as a favorite destination for the big industrial units because of the initiatives taken in this direction.