BUSINESS

The Jammu Kashmir administration signed an MoU with UAE’s pioneering financial services company, Century Financial that will invest $100 million. The MoU has signed in an event presided by the Lieutenant Governor, Manoj Sinha. The investment will cover 3 hotels and one commercial cum residential complex in Jammu &Kashmir. The MoU was signed by Principal Secretary, Industries, JK, Ranjan Prakash Thakur and Sh. Bal Krishen, Owner of Century Financial in the presence of Sh. Aman Puri, Consul General of India in Dubai and several distinguished UAE-based business owners, investors, and entrepreneurs. Speaking on the occasion, Lieutenant Governor, Manoj Sinha said “Prime Minister Narendra Modi is committed to the development of the Union Territory of Jammu & Kashmir. We are happ...

Jammu Kashmir (J&K) has inked six agreements with global investors at EXPO2020 Dubai to bring in investments in the UT’s real estate, infrastructure, tourism, healthcare, manpower employment sectors among others. Manoj Sinha, Lieutenant Governor (LG) of Jammu & Kashmir addressed the Investors Summit in Dubai yesterday, which was attended by renowned business leaders and investors from the United Arab Emirates (UAE). “Jammu Kashmir has moved from a sleeping business destination to the land of opportunities and investment. The Union Territory received investments to the tune of USD 2.5 billion in 2021 and showcased the enormous opportunities and business potential in the region,” Sinha said. Jammu Kashmir has signed 5 MoUs with Al Maya Group, MATU Investments LLC, GL Employmen...

The fruit market had suffered badly since last few months as Iranian apples were “illegally” and freely sold in Indian markets, say those associated with the fruit trade at Asia's second—largest fruit mandi here in the apple town Sopore area of northern Kashmir. While seeking the ban on Iranian apples in the country, the traders also staged a protest demonstration on Monday at fruit trade, stating that the import of Iranian apples to india has completely downgraded the fruit industry of Kashmir. "Since the last few months, it has badly affected our local fruit industry as the apples which were being sold at suitable prices are now being sold at less price. This has left all the fruit traders here worried, "the protesters told news agency—Kashmir News Observer (KNO) "The apple trad...

Emaar Properties will develop a massive shopping mall in Srinagar, as part of an agreement between the government of Dubai, and the Jammu Kashmir administration to facilitate investments into projects. According to a report by Live Mint, “UAE and India are comprehensive strategic partners and this project by Emaar will be a landmark of Jammu and Kashmir. I would like to congratulate Emaar and all the partners on this project and am sure we will see many such projects coming up in the near future. UAE and India’s economic partnership is at an inflection point and we will invite other UAE investors to look at this opportunity too," said Dr. Ahmed Abdul Rahman Albanna, UAE Ambassador to India. According to the agreement, the project ‘Mall of Srinagar’ by Emaar will be about 5,00,000 sq ...

Hours after land in Jammu Kashmir was thrown open to outsider investors, the former chief Ministers of Jammu Kashmir responded sharply saying that Jammu Kashmir has been put up for sale. On Monday, the Jammu Kashmir administration opened the Jammu Kashmir to the country's real estate investors by signing 39 MoUs worth Rs 18,300 crore for the development of housing and commercial projects. Mehbooba Mufti, the former Chief Minister of Jammu Kashmir said that the Government of India (GOI) has put Jammu Kashmir up for sale. https://twitter.com/MehboobaMufti/status/1475431074247294977 In a tweet, Mehbooba Mufti said, "J&Ks special status was illegally revoked to dehumanise, dispossess & disempower the only muslim majority state in India. GOIs brazen loot & sale of our re...

The Jammu Kashmir administration on Monday opened up doors of Jammu Kashmir to the country’s real estate investors by signing 39 MoUs worth Rs 18,300 crore for the development of housing and commercial projects. Lieutenant Governor Manoj Sinha speaking on the occasion said that it is a major step towards the transformation of the region. Addressing a press conference at the summit, he said the administration has already implemented the realty law RERA and adopted Model Tenancy Act in Jammu Kashmir. "We will consider reducing stamp duty on registration of properties and set up a single-window system for faster approval of projects.," he told the press. “We have signed 39 MoUs today. We have received investments proposals of Rs. 18,300 crore,” he told reporters here. He said that...

Jammu Kashmir has received investment proposals worth Rs 31,000 crore and has notified a new central sector scheme worth Rs 28,400 crore which is likely to provide employment to over 4.5 lakh people, the Rajya Sabha was informed on Wednesday. MoS Home Nityanand Rai said Union Home Minister Amit Shah met several delegations, families of martyrs, members of civil society and panchayati raj institutions, the public in general besides interacting with about 50,000 members of 4,500 youth clubs during his visit to Jammu and Kashmir in October. "The government has notified the new central sector scheme for industrial development of the Union Territory of Jammu and Kashmir, with an outlay of Rs 28,400 crore. This is likely to provide employment to over 4.5 lakh people while boosting the indu...

The Periodical labor force survey conducted by the National Statistical Officer has made shocking revelations about unemployment in Jammu Kashmir. The data reveals that Jammu Kashmir has the second-highest unemployed graduates and postgraduates, while Nagaland tops the list. According to the data, the unemployment rate among males in rural areas having passed class 10th stands at 1.6%. 9.8% of those who have passed their class 12 are unemployed. More than 58 percent of diploma and certificate holders are unemployed. 14.9 percent of graduates and 7.9 percent postgraduates are unemployed. In urban areas, the unemployment rate among males having passed class 10th is 4 percent while 12.8 percent pass outs are unemployed. 18.9 percent in diploma holders, unemployment among the...