Foreign

India to woo businesses to Kashmir in planned investment summit

Published

on


India plans to offer around 6,000 acres (2,400 hectares) of land in Kashmir as part of a business summit to help the Himalayan region after withdrawing its special rights and making sweeping administrative changes.


Jammu and Kashmir was India’s only Muslim-majority state until August when the federal government split off a Buddhist-dominated enclave and designated both as federally-administered territories.

The government enforced the changes through a harsh crackdown, deploying thousands of additional troops, imposing a communication blackout and detaining scores of people.

According to Manoj Kumar Dwivedi, the region’s Commissioner Secretary in charge of industry and commerce, the government is now offering the land, along with tax breaks and insurance cover, to draw businesses there.

Prime Minister Narendra Modi’s government insists that the reorganisation in August was essential to spur development in Jammu and Kashmir, which is also claimed by Pakistan.

The area is one of India’s least industrialised regions, with per capita income of 62,145 rupees ($870) in 2016-2017, lower than the national average of 82,229 rupees but better than several other states.

More than 1,300 acres of the land offered is in the scenic Kashmir valley, the center of a 30-year revolt against Indian rule in the territory, according to an investor presentation reviewed by Reuters.

Dwivedi said in some conflict-ridden areas, the government would consider providing security and higher insurance cover to comfort investors.

“If we want somebody to come and do business here, taking care of the interest of the businessman is definitely our responsibility adding that the government hoped to create 100,000 new jobs.’’

Land is a sensitive subject in Kashmir, where outsiders were previously prohibited from buying property because of fears that an influx of people could change its demographics.

A consultant involved with the planned summit said more than 250 businesses were discussing possible investments.

These include investments in cement, education and tourism sectors, the consultant said, declining to be named since he is not authorized to speak to the media.

However, the former finance minister for Jammu and Kashmir, Haseeb Drabu described the government’s plan as absurd because of the prevailing situation in the territory.

“You need a peaceful environment for investment today it is very volatile,’’ the former minister said.

Edited By: Hadiza Mohammed/Emmanuel Yashim

https://nnn.ng/india-to-woo-businesses-to-kashmir-in-planned-investment-summit/

Ministry official advocates regular dog vaccination to end rabies by 2030 COAS inspects ongoing projects in Army Super Camp, Ngamdu School resumption: Expert advocates provision of clean water to check spread of infections Armed Forces College holds memorial service for 1992 Ejigbo plane crash victims Increased tariff: Previous administration created problem in power sector Scores of terrorists killed in massive airstrikes on hideouts in Borno – DHQ Wike promises early completion of 258-bed mother, child hospital in Port Harcourt Yobe IPAC agrees with LG elections postponement Brazil court postpones league game after several COVID-19 positive tests Don charges media on changing maternal health narratives FG hands over Ogoni remediation sites to NOSDRA for scientific analysis Chilean team discover match postponed after 1,500 km trip Buhari condemns attack on Gov. Zulum’s convoy, killings of security agents Edo election: We have learnt our lesson — APC Environmental: Kano Govt deploys 1,000 sanitation vanguards Christian women pray over insecurity in Jos Chelsea recover from 3 goals down to draw at West Brom Ondo 2020: No plan to collapse our structure for another party – ZLP Structure NGO tasks youths on self-development, empowers 100 with N200, 000 each FG set to address flooding as HYPPADEC takes off soon Police, vigilante group apprehend 3 bandits in Oyo DPR reinforces revenue collection channels COVID-19: PTF urges religious leaders to ask congregation to wear facemask NERC working on ways to monitor quality of service -Commissioner  Federal lawmaker presents car gifts to campaign coordinators in Ibadan Gov. Zulum mourns Col. Dahiru Bako killed by insurgents in Borno NCDC announces 195 new COVID-19 cases, death toll hits 1,100 NSE, others commit to expanding retail investment opportunities in capital market Imo Govt. moves to restore Owerri masterplan to check flooding Cyber-security: CSCS chief, others say collaboration key APC congratulates Gov. Obaseki on his re-election as Edo State Governor Tinubu hails wife at 60 No directive to constitute disciplinary c’tee against us — Ojudu, others NCAA to revoke erring airlines license over non-compliance with COVID-19 protocols African tourism leaders recommend MICE for sectoral recovery  We have finally caged the lions from Edo politics, says Gov. Obaseki Awosika, Dare, others to speak at NBC Youth Summit Edo speaker congratulates Obaseki, commends Buhari, INEC, others  Konsa seals Villa win over 10-man Sheffield United Group condemns attacks on women during governorship election in Edo COVID-19: NCDC says Nigeria not testing adequately Police arrest 96 suspects over alleged cultism, robbery in Benue Gov. AbdulRazaq announces committee on Saturday’s rainstorm in Kwara Edo election: Observer faults integrity of governorship election Motorists decry state of roads in Kuje Kaduna NLC mourns Emir of Zazzau Health Minister says 10% of COVID-19 cases are under-19 Edo Polls: SDP congratulates Obaseki, commends INEC Buhari to Okorocha at 58: Your large heart will always stand you out Kuje PDP inaugurates leaders of South-West group