Emaar, Noon, Lulu to drive growth in India’s Jammu and Kashmir, says official
Tourism, hotels, hospitals, real estate to attract investments
Dubai: Top UAE companies such as Emaar, Noon, Lulu Group and DP World will drive growth in India’s Jammu and Kashmir (J&K) region, according to a government official.
This comes after J&K signed a memorandum of understanding with Dubai for the development of real estate, industrial parks and other projects in October.
“We have a direct flight between Sharjah and Srinagar which highlights the direct connectivity between the UAE and J&K and will be pivotal in sustaining continued access,” said Ranjan Prakash Thakur, Principal Secretary, Industry & Commerce, J&K, during the inauguration of the J&K Week at the India Pavilion in Expo 2020 Dubai.
DP World plans to develop logistics infrastructure in J&K, while local retail giant Lulu Group was an early mover and announced the setting up a modern food processing and logistics center in the Indian state in late 2020.
“Given the opportunities in the region, it is crucial to establish J&K as a modern, developed place which takes care of its economy and employment,” said Thakur.
On Monday, the J&K pavilion was inaugurated by Thakur along with Aman Puri, Consul General of India in Dubai and Deputy Commissioner-General for India at Expo 2020 Dubai.
Speaking further, Thakur said: “We need to develop J&K into a modern, developed UT which is riding on the top of the heritage and hundreds of thousands of years of artwork and handicrafts.”
The official also talked about the sectors in J&K which have business potential for growth. Talking about the target sectors, he said: “Among the target sectors, tourism is one of the most crucial sectors we are aiming for growth. Kashmir valley will be a key destination for the development of hotels, hospitals, handloom and horticulture while Jammu will be focusing on growing sectors such as production, pharma, inland container depot and real estate.”