Lieutenant Governor Manoj Sinha initiated the construction of the Mall of Srinagar by Dubai’s Emaar Group in Sempora. The Lieutenant Governor congratulated the people of Jammu and Kashmir on this historic occasion.
The Lt Governor expresses their excitement about the Mall of Srinagar and the related projects that are being developed in collaboration with the Government of Dubai in this statement. They see this project as a new dawn of limitless possibilities that will contribute to the realization of Hon’ble Prime Minister Shri Narendra Modi ji’s vision for the development of Jammu and Kashmir.
The Mall of Srinagar, according to the Lt Governor, will have a transformative impact on the Union Territory (UT). It will improve infrastructure, create jobs, and make life easier for the people of Jammu and Kashmir. This project is expected to generate numerous job opportunities for local residents, boosting the region’s economy.
“Mall of Srinagar and related projects to strengthen India-UAE trade and investment ties, “says Lt Governor
Besides that, the Lt Governor emphasized the significance of the Mall of Srinagar project in reinforcing trade and investment links between India and the UAE. The Lt Governor envisions that this project and its related ventures will fuel economic progress in Jammu and Kashmir and advance the goal of bolstering bilateral trade and investment ties between the two nations.
The Lt Governor attributed the strong ties between the UAE and India to the Hon’ble Prime Minister’s hard work and dedication. They lauded the Prime Minister’s efforts to promote and strengthen the bilateral relationship between the two countries.
Moreover, the Lt Governor emphasized the progressive reforms implemented under the guidance of the Hon’ble Prime Minister to create an environment conducive to the growth of industries and businesses in Jammu and Kashmir. These reforms have been critical in attracting unprecedented industrial investment and economic growth in the region, laying the groundwork for a more prosperous future for the Union Territory’s people.
The Lt Governor thanked both the Hon’ble Prime Minister and the Hon’ble Home Minister for launching a new industrial development scheme in Jammu and Kashmir.
Since the implementation of the New Industrial Policy, which has been in place for only 22 months, the region has received investment proposals from over 5000 domestic and foreign companies. The Lt Governor further highlighted that an average of 8 companies are expressing their willingness to invest in Jammu and Kashmir every day, which is a testament to the success of the new policy.
The Lt Governor also stated that a new industry is being established and becoming operational in the Union Territory on a daily basis. 45 new industries began operations in the previous month alone, which is a positive sign for the region’s economic growth and development.
He also highlighted that the Hon’ble Prime Minister had initiated groundbreaking ceremonies for projects totaling Rs 38,000 crore, demonstrating the government’s commitment to investing heavily in the region.
They also urged those who had questioned job opportunities after August 2019 to consider their previous contributions to the growth and development of Jammu and Kashmir. Furthermore, the Lt Governor stated that Jammu and Kashmir had only received Rs 14,000 crore in industrial investments since independence until 2019.
Over the last three years, Jammu and Kashmir have seen remarkable growth in a variety of sectors, including physical, digital, and knowledge connectivity, according to the Lt Governor. They underlined how well the region had performed in comparison to the rest of the country.
The Lt Governor invited business leaders from around the world to take part in Jammu and Kashmir’s new industrial revolution.
They emphasized that the region had broadened its economic and social base and was providing the best incentives in the country, such as land for industries, skilled labor, technical support, market connectivity, national and international air cargo facilities, raw materials, affordable power, a low crime rate, single window clearance, and ease of doing business.
Moreover, the Governor stated that Jammu and Kashmir had launched highway and tunnel projects worth one lakh crore rupees this year, which would connect Kashmir to Kanyakumari.
Furthermore, flight operations at the region’s airports had increased, and international flight connectivity had been strengthened, indicating significant progress in the transportation sector.
According to the Governor, Jammu Kashmir is now in a period of peace, and the days of Hartals are over. They also stated that the world had seen the youth and people of Pulwama, Tral, and Shopian come out in large numbers holding national flags, indicating the region’s progress toward peace and stability.
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Jammu Kashmir has enormous potential that can be fully utilized to advance business opportunities. He went on to say that this decade belongs to Jammu and Kashmir.
Sh Emaar CEO Amit Jain expressed his excitement about the Mall of Srinagar project, which is considered one of their major undertakings. He also mentioned Emaar Group’s strong ties to prominent retail brands in the UAE, which are set to enter India through this initiative. The Emaar Group plans to build one IT tower in each of Jammu and Srinagar.
The Mall of Srinagar is the first major foreign direct investment in Jammu and Kashmir, and it is scheduled to open in 2026. During the Investor Meeting in Dubai in January 2022, the J&K Government signed an MOU with the UAE and other stakeholders.
Moreover Emaar’s Mall of Srinagar, the over-a-billion-dollar projects include industrial parks, a medical college, a specialty hospital, logistics centers, IT towers, and multipurpose towers. Those in attendance included Sh Kailash Vijayvargiya, Dr. Aman Puri, Sh RR Bhatnagar, Dr. Arun Kumar Mehta, and Sh Nikhil Nanda.