From enhanced security to investments, J&K is seeing unprecedented development after the abrogation of Article 370. Not only are Indian industries investing in various projects but so is this Middle Eastern country. Stay in the video to learn more.
In the last episode, we explored how J&K is rapidly changing after the abrogation of Article 370. In this episode, we will reveal all about the first foreign investment in the valley.
The Northernmost state of India is going through a period of transition where it is witnessing unprecedented growth in its history. The Indian part of Kashmir has suffered under various regional leadership, poverty, and most of all Islamic militancy. All that is now rapidly changing! With Kashmir set to get its first foreign investment, it is only the beginning of good things to come for the people of the valley.
Dubai-based Emaar group is all set to invest over $60 million in the office and shopping complex. This is a big achievement for the Modi-led government because it is trying to stabilize a region where separatist has fought the government for years.
An article published on Reuters mentions the following:
“The announcement on Sunday of what the region’s government said was its first foreign investment comes after the central government said last week that Jammu and Kashmir had received record investment of 15 billion rupees ($181 million) in the first 10 months of the 2022-23 (April-March) fiscal year.
Governments have long tried to woo investors, both domestic and foreign, but with little success due to the three-decade insurgency in a region claimed by both India and Pakistan.”
While it is true that Pakistan has always denied supporting the insurgency, India has always provided hard evidence against the nation.
In an interview published on Reuters, Amit Jain, CEO of Emaar Properties, said:
“This is the start, we should inspire people, people should aspire to follow us. This is a one million square feet mall with 500 shops and will generate around 7,000 to 8,000 jobs,” Jain said after the ground-breaking ceremony for the ‘Mall of Srinagar.’”
Emaar has built a reputation of being the finest in recent years. The group boasts of building the tallest tower in the world—Dubai’s Burj Khalifa.
The Reuters article reads:
“In August 2019, Prime Minister Narendra Modi’s government split the state of Jammu and Kashmir into two federally administered territories as part of an effort to tighten its grip over the region at the heart of more than 70 years of hostility with Pakistan and integrate it more closely with the rest of the country.”
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