Gulf Business Summit
Delegates from 33 companies from Hong Kong, the UAE, and Saudi Arabia arrived in Srinagar to instill and gauge the growing situation in Jammu & Kashmir for investments and will also see that the MoUs amounting to Rs. 3,000 crores, signed earlier this year, are utilized properly.
- On 22nd March, Gulf Business Summit will be attended by the delegates with the aim of discussing the exploration of investment opportunities in various sectors across Jammu & Kashmir.
- For the first time a Saudi Arabia-based investor has shown interest in business opportunities in Jammu & Kashmir.
- The government of Jammu & Kashmir had signed MoUs in the month of January with various UAE–based companies such as Lulu, Emaar, Al Maya Group, MATU Investments, Century Financial, GL Employment Brokerage LLC, Noon e-commerce, etc.
- Near about 16,000 kanals which is equivalent to 1,999.9 acres of land bank have been opened so that investments can be done in Kashmir.
- As there is a huge significance of Jammu & Kashmir as a major tourism hub, the delegation will also be visiting tourist destinations such as Pahalgam and Gulmarg, to explore business opportunities in these places.
- In this summit, pitch presentations of start-ups, exporters, and women entrepreneurs will be conducted.
- An overview of the silk and cottage industries along with product displays and meets with artisans have also been planned.
This summit falls in line with the government initiatives towards creating favorable infrastructure for the promotion of an entrepreneur-friendly environment and exports from the region.