SRINAGAR: Chief Secretary BVR Subrahmanyam discussed modalities for the maiden ‘Global Investors Summit’ to be held in Jammu and Kashmir that will set the platform for businesses to make investments in a big way in the State.
On his arrival here on a three day visit yesterday, Chief Secretary chaired a meeting at the winter secretariat which was also attended by the Principal Secretary, Industries and Commerce, Shailendra Kumar and other officers of the state administration to review preparedness for ‘Global Investors Summit’.
“There are unique challenges in Jammu and Kashmir but Governor’s Administration is determined to overcome them. We are in the process of creating an ecosystem to attract investment from national and international businesses that will open up new vistas of employment in the state,” Chief Secretary said.
Chief Secretary said Jammu and Kashmir has the best work force and talented youth available but due to the situational challenges, businesses have stayed away from making investments here.
“J&K doesn’t require factories for labour. We have the best work force across the country. Large scale investment in sectors such as biotech and horticulture can produce great results. It is with this idea that the government is going to organise a business summit,” he said.
Subrahmanyam said the state will not imitate such summits being held in other states of the country as Jammu and Kashmir offers unique opportunities, “If the summit works, a pattern will emerge that will set a benchmark for future investments. The idea behind the investor summit is to generate employment in a big way in J&K,” he said.
Chief Secretary said the State Government will hire a knowledge partner who will help in identifying the potential of focus sectors that will set the tone for the investor summit. “If a box of apples is sold for Rs 1500 in New Delhi, why should it sell for just Rs 300 in the Valley? We are determined to change this,” he said.
“There is a big Kashmiri Diaspora across the world. Our knowledge partner will help us in creating networks with them. Besides, we will tell the prominent business of the country that if they are doing so much for rest of the country, why not for J&K,” Chief Secretary maintained.
Consultants of Ernest and Young made a presentation in which they chalked out a detailed roadmap for organising the investors’ summit in Jammu and Kashmir. Reflecting on their experiences of having worked in Uttar Pradesh and Jharkhand, they said such summits have exponentially increased investments in these states.
The consultants listed out key strategies including policy making, investor outreach, event planning and knowledge collaterals for organising the summit in Jammu and Kashmir.