Gulf companies plan to invest Rs 70,000 cr in J&K over next 6 months

Srinagar, April 12 (KNN) Companies from Gulf Cooperation Council (GCC) are planning to invest Rs 70,000 crore in Jammu & Kashmir over the next six months which is expected to generate a minimum of six to seven lakh jobs.

A delegation of over 30 CEOs from GCC visited Kashmir to map the business and investment opportunities in the region.

The visit was coordinated by Bal Krishen, CEO of Century Finance who was earlier a resident of Jammu and Kashmir’s Doda before relocating to Dubai.

The visit took place a month after India and the United Arab Emirates (UAE) signed a free trade agreement.

Jammu and Kashmir’s Lt Governor Manoj Sinha had recently visited the UAE and invited individuals and corporates to invest in the Union Territory.

Krishen promised investment of USD 100 million in the region to build three hotels and one commercial-cum-residential complex in the Union Territory.

Sinha, during the meeting with the CEOs, assured them of their redressal in minimum time period, especially in the health and medical education, real estate, hospitality, food processing, cold storage and cold chain and education sectors. (KNN Bureau)