Jammu and Kashmir's first investor summit in October-November, PM Modi likely to inaugurate

View of a deserted road during restrictions in Srinagar. (Reuters photo)

SRINAGAR: In an effort to boost trade and growth in Jammu and Kashmir, the Centre is planning to hold the union territory's first industrial summit in October or November this year. Prime Minister Narendra Modi will likely inaugurate the summit. 

Industry body Confederation of Indian Industry (CII) has prepared an agenda charting the investment roadmap in important sectors such as tourism, hotel industry, food parks in the newly designated Union Territories (UTs) of Jammu and Kashmir and Ladakh. The industry chamber Friday also assured the government of providing support to investment and development. 

Several industry leaders from different sectors are expected to attend the summit. Sources told Zee News, that the final call on the summit will be taken after taking into consideration the situation of law and order in the UTs, and the availability of the Prime Minister. 

“In today's meeting, a separate discussion was held on Jammu and Kashmir Investors Summit and the investment in the UT. Many business houses seem willing to come forward and invest,” said CII DG Chandrajeet Banerjee after a the confederations meeting with Finance Minister Nirmala Sitharaman on Friday. 

The sun sets in Leh, the largest town in the region of Ladakh (Reuters photo)

Parliament has revoked Article 370 granting special status to Jammu and Kashmir and passed the J&K Reorganisation Bill, bifurcating the state into two union territories: Jammu and Kashmir and Ladakh.

The Prime Minister, in a 45-minute televised address to the nation on Thursday following the abrogation of Article 370 in Jammu and Kashmir, said that the decision “will give impetus to the overall prosperity of the region and ensure better developmental facilities."