Srinagar - Jammu and Kashmir administration signed a Memorandum of Understanding (MoU) with the Dubai government for the development of real estate, industrial parks, super specialty hospital, and more.

In a significant step towards developing the industrial sector and other business enterprises in the Union Territory, the Jammu and Kashmir administration on Monday signed a Memorandum of Understanding (MoU) with the Dubai government for development of real estate, industrial parks, and more.

Talking about the significance of the MoU, Union Minister for Commerce and Industry Piyush Goyal said that with the signing of the MoU with the Dubai government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.

“This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role into that as well,” Piyush Goyal said.

The groundwork for the MoU was prepared during the minister’s visit to Dubai between October 1-3 on the sidelines of the inauguration of the India pavilion at Dubai Expo 2020.

The MoU with the government of Dubai covers real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, super specialty hospital and more.

The Central government hopes that the MoU will prove to be a milestone after which the investment will pour in from around the globe, ushering in a big developmental push.

Apart from bringing much needed investment to J&K, the MoU also promises to help India gain greater support of UAE, which has a strong presence in the comity of Islamic nations, as well as counter Pakistan’s propaganda on Kashmir.

“Different business entities from Dubai are said to have shown keen interest in investment in the newly created UT. Development has to be aspired on all fronts and we are on track,” Piyush Goyal added.

The MoU follows after the government announced the recent industrial package of Rs 28,400 crore for the Union Territory.

Terming it a momentous occasion, Jammu and Kashmir Lieutenant Governor Manoj Sinha said that this agreement will help the Union Territory to scale new heights in industrialisation and sustainable growth.

In an attempt to underline that the recent attacks on civilians in Jammu and Kashmir have not deterred the government's developmental plans, Piyush Goyal used his visit to signal that development of the UT remains a top priority.

The Union minister inspected stalls put up by various departments, including animal husbandry, district industries, ICDS, social welfare, horticulture, sheep husbandry, handloom, and handicrafts department.

He emphasised on promoting products that can add up to the export potential of the UT. He gave directions to the district administration to extend all possible support to the local entrepreneurs and artisans for increasing productivity.

The minister also distributed kits among newly born female infants under the ‘Beti Bachao Beti Padhao’ scheme. Under the ‘Ladli Beti’ scheme, grants were distributed among beneficiaries.

Piyush Goyal distributed sanction letters among beneficiaries for purchase of milk vans. Tricycles were also distributed among specially-abled persons through the social welfare department.

The minister directed the district administration to work out plans for homestay tourism in Pahalgam that will both boost the local economy and add to the tourist potential of Pahalgam.

Goyal also met a delegation of industrialists from the valley, who apprised the minister of issues being faced by the industry and bottlenecks in export of Kashmiri shawls.

There was also discussion regarding the new industrial package and need to extend the package to existing industrial units to ensure their growth.

Taking immediate action on bottlenecks faced in export of shawls, Piyush Goyal directed the authorities to set up testing facilities at Srinagar and Delhi airport, while simultaneously upgrading the local testing facilities with state-of-the-art machines.

He also proposed the setting up of a carpet village that will act as a demonstration centre of the local craft to visiting tourists and also promote the local carpet industry globally