Will take decision once situation improves: Com Sec I&C
SRINAGAR: The outbreak of deadly coronavirus in Jammu & Kashmir has cast a shadow over holding of the first-ever global investors’ summit in the Union Territory for attracting investment in different sectors.
The much-talked about investors’ summit is unlikely to be held in near future given the fact that global as well as Indian economy is set to take a hit due to the pandemic.
Talking to News Agency—Kashmir News Observer (KNO), commissioner secretary Industries and Commerce, MK Dwivedi said the government has not taken any decision about holding the summit keeping in view the prevailing situation due to pandemic.
“We are watching the situation closely. Once it improves, then there will be any decision about holding the summit “, he said.
An official wishing anonymity said the prevailing situation isn’t favorable for attracting investment in Jammu & Kashmir. “It will take years for global as well as Indian economy to recover from aftershocks of the pandemic. Who will come to invest here in these circumstances here?” he aske
Managing Director State Industrial Development Corporation (SIDC) Ravinder Kumar said that so far there is no update whether the summit has to be held. “There is no communication from the higher ups so far,” he told KNO.
The idea of holding global investors summit was floated by Governor Satya Pal Malik-led administration in 2019 to attract investment in different sectors in J&K. The summit was scheduled to be held in October 2019 but was cancelled after BJP-led Central government abrogated Article 370 and partitioned J&K into two Union Territories.
Since beginning of this year, the government started preparations for holding the summit likely on May 26-27. To begin with, the authorities held roadshows between February 17 to March 9 in Bengaluru, Kolkata, Mumbai, Hyderabad, Chennai and Ahmedabad for wooing business houses to set-up food processing units, food parks, film production centres, schools, Information Technology parks and medical complexes. It also identified 6000 acres of land in different districts of J&K for setting up industrial estates.