New Era in Kashmir. A great future lies ahead for our Kashmir, a region which has suffered decades of terrorism is finally enjoying the fruits of peace. The United Arab Emirates’s investors are turning to Kashmir. This was unimaginable just a few years ago but today Kashmir is a big tourist hotspot and is attracting foreign investors also. Dubai’s EMAAR group has invested a total of 500 crore rupees which includes a mega Mall project and IT towers to be constructed in Jammu and Srinagar. This is the group that has built the world’s tallest building “Burj Khalifa”.
Significance. It is significant and shows a confidence of a foreign country in “Indian’s vision of Kashmir”. The reason of such investment goes back to 2019 with removal of special status to Jammu and Kashmir by abrogation of Article 370. On 19th March , Lt Governor, UT of J&K , Shri Manoj Sinha , laid the foundation stone of “Mall of Srinagar, EMAAR” which is planned to be completed by 2026. The mall will be approx 1 million sq feet with 500 plus shops. This project is expected to generate 7000-8000 jobs. The valley is becoming an investor’s destination and gaining popularity.
Under Progress Developments. In 2021, Jammu and Kashmir Administration announced a new industrial development scheme worth 20,000 crore with an aim to encourage investment and take industrial development to the next level. In the last two years, Jammu and Kashmir has received investment proposals from more than 5000 companies.
UAE’s Investments. The UAE is one country that is very upbeat about investing in Kashmir. It has agreed to deliver projects worth over $1 billion in the valley which includes Central Parks, Medical College, Speciality Hospital, Logistics centres, IT and Multipurpose Towers. UAE is investing in India’s vision of Kashmir. It’s a huge vote of confidence for the government and a set back for our adversaries. Investor’s confidence in Kashmir is a direct fallout of the improved security situation, that Kashmir is now relatively safe. A total of 16 million tourists flocked to the valley last year, these big infra investments will have a domino effect. It’s a win-win situation for our nation and for our valley.
