J&K signs MoU with Dubai for the development of real estate

In an official statement quoting commerce and industry, Piyush Goyal said, “This MoU is a milestone after which investment will pour in from the entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment.”

In an important effort towards developing the industrial sector and different business enterprises in the Union Territory on Monday, the Jammu & Kashmir administration with the government of Dubai signed an MoU (Memorandum of understanding) for real estate development including IT towers, industrial parks, logistics, multipurpose towers, a super specialty hospital, medical college, apart from other activities. This new MoU will help Jammu & Kashmir to thrive in all different sectors including real estate.

In an official statement quoting commerce and industry, Piyush Goyal said, “This MoU is a milestone after which investment will pour in from the entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment.”

To create employment and increase economic activity, the centre has been looking to set up investment flows to the Union Territory. Also, recently an economic package of over Rs 28,000 crore was announced to support this new scheme.

Piyush Goyal, during his visit to UT, met local industrialists he discussed the issue of extending the package to existing industrial units. While assuring all possible assistance from the Centre, he also pursued to address stoppages confronted in the export of shawls with the authorities asked to set up local testing facilities.

In addition, the minister, Piyush Goyal who also maintains the textiles portfolio, has recommended the setting up of a carpet village that will function as a demonstration centre of the local craft to attract visiting tourists and facilitate the local carpet industry globally.