J&K MoU with Dubai to Develop Real Estate & Industrial Parks

In a significant step towards developing the industrial sector and other business enterprises in the Union Territory, the Jammu and Kashmir administration on Monday signed a Memorandum of Understanding (MoU) with the Dubai government for development of real estate, industrial parks, and more. “This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role into that as well,” Piyush Goyal said. The MoU with the government of Dubai covers real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, super specialty hospital and more. The Central government hopes that the MoU will prove to be a milestone after which the investment will pour in from around the globe, ushering in a big developmental push. Apart from bringing much needed investment to J&K, the MoU also promises to help India gain greater support of UAE, which has a strong presence in the comity of Islamic nations, as well as counter Pakistan’s propaganda on Kashmir. The MoU follows after the government announced the recent industrial package of ?28,400 crores for the Union Territory. Terming it a momentous occasion, Jammu and Kashmir Lieutenant Governor Manoj Sinha said that this agreement will help the Union Territory to scale new heights in industrialisation and sustainable growth.