CII to organise Investors Summit in Jammu and Kashmir in October
CII has recommended a ten-point policy agenda to promote growth in India's northern-most region
August 06, 2019 / 05:25 PM IST
With the recent significant changes in Jammu and Kashmir, investment and land purchases for industrial and social development will soon be possible, which will lead to economic prosperity, according to industry body Confederation of Indian Industries (CII).
CII is partnering with the local government in Jammu and Kashmir to organise an investors' summit on October 12-14, 2019 to attract investment to the region.
“Jammu and Kashmir is an area of strong potential for development as it enjoys a range of natural resources and immense talent,” CII president designate Uday Kotak said.
The region’s per capita NSDP (net state domestic product) at Rs 63,995 stands at about 55% of the national average, and agriculture accounts for 80% of the output. Kotak said strong efforts from the government and industry, including local businesses, are the need of the hour to raise growth rate and create new opportunities for employment and livelihood in the state.
CII has recommended a ten-point policy agenda for economic growth in the region, relating to sustainable industrial growth, a better investment climate and boosting specific sectors such as tourism, infrastructure and connectivity, agriculture and horticulture, and renewable energy, among others.
Strengthening MSMEs, improving access to finance, and elevating education and skill development will be central to progress in the region.
CII stated that it would continue to work with the new administration in the two union territories of Jammu & Kashmir and Ladakh for enabling faster development.