Srinagar, Oct 18: In a major boost to infrastructure development, the Jammu and Kashmir government has entered into an agreement with the government of Dubai for real estate development in the Union Territory (UT).

 

“Government of Dubai and the Government of Jammu Kashmir have entered into an agreement, which will help the Union Territory to scale new heights in Industrialisation sustainable growth. Today is an important day for the developmental journey of the UT of Jammu Kashmir,” the Office of Lieutenant Governor of J&K tweeted.

    

 

Another tweet said, “We are committed to develop a new industrial culture in Jammu Kashmir. This MoU is about Jammu Kashmir's prospects and I am confident it will set the pace in the business sector of the future that are key to the prosperity of the people.”

 

Union Industries and Commerce Minister Piyush Goyal who is in the valley as part of the Centre’s outreach program, said that investors from Dubai will throng to Jammu and Kashmir after the agreement. According to the agreement, investors can invest in building industrial parks, IT towers, medical colleges, super speciality hospitals and other sectors in the UT.

 

 

"Today is a very important day for Jammu and Kashmir and India. The way J-K has developed at a fast pace under the leadership of Manoj Sinha Ji, and with the MoU signed today, J-K will play a huge role in India's endeavour to become a world power," he said. Further, the Union Minister said that several companies in Dubai are keen to invest in India and J-K.

 

 

"It's an important day of friendship between J-K with Dubai; we have always had deep relations, and with the efforts of Piyush Goyal Ji, the common values, mutual trust and respect for each other is now strengthened," Sinha said.

 

Dubai-based investor Sultan Bin Sulayem said, "We are pleased with the MoU and are committed to connecting J-K to the rest of India. We know how to do that, we know the obstacles." He also said that with the Made in India initiative now applied here, the world will see several products from Jammu and Kashmir.

 

During his visit to Dubai, Piyush Goyal hinted at the possibility of investments in the Union Territory. There, Goyal co-chaired a meeting of the UAE-India High-Level Joint Task Force. He also inaugurated the Indian Pavilion at Dubai Expo 2020.