Top UAE companies to drive growth in India’s J&K, says official

INTERNATIONAL DESK: Top UAE companies such as Emaar, Noon, Lulu Group and DP World will drive growth in India’s Jammu and Kashmir (J&K) region, according to a government official.

This comes after J&K signed a memorandum of understanding with Dubai for the development of real estate, industrial parks and other projects in October.

“We have a direct flight between Sharjah and Srinagar which highlights the direct connectivity between the UAE and J&K and will be pivotal in sustaining continued access,” said Ranjan Prakash Thakur, Principal Secretary, Industry & Commerce, J&K, during the inauguration of the J&K Week at the India Pavilion in Expo 2020 Dubai.

DP World plans to develop logistics infrastructure in J&K, while local retail giant Lulu Group was an early mover and announced the setting up a modern food processing and logistics center in the Indian state in late 2020.

“Given the opportunities in the region, it is crucial to establish J&K as a modern, developed place which takes care of its economy and employment,” said Thakur.

On Monday, the J&K pavilion was inaugurated by Thakur along with Aman Puri, Consul General of India in Dubai and Deputy Commissioner-General for India at Expo 2020 Dubai.

Speaking further, Thakur said: “We need to develop J&K into a modern, developed UT which is riding on the top of the heritage and hundreds of thousands of years of artwork and handicrafts.”

The official also talked about the sectors in J&K which have business potential for growth. Talking about the target sectors, he said: “Among the target sectors, tourism is one of the most crucial sectors we are aiming for growth. Kashmir valley will be a key destination for the development of hotels, hospitals, handloom and horticulture while Jammu will be focusing on growing sectors such as production, pharma, inland container depot and real estate.” (Gulf News)