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Jammu and Kashmir: Investor summit scheduled to be held for the first time in October postponed to November

After the abrogation of Article 370, Confederation of Indian Industries(CII) President, eminent banker Uday Kotak has announced an investor’s summit in J&K in October.

The Investor Summit which was to be held for the first time ever in Jammu and Kashmir in the month of October has now be postponed by a month. The summit which was supposed to happen on October 12-14, 2019, will now take place around November 8.

There is also a press conference expected by Governor Satya pal Malik shortly where he is expected to officially make this announcement.

The Modi-led government is trying to push a development drive in Jammu and Kashmir since it successfully revoked Article 370 in the valley. In its endeavour to do so, a special developmental plan for Jammu & Kashmir had been worked out which included the setting up of industries, state of the art educational institutes, healthcare facilities etc.

Keeping the development in J&K in mind, the Confederation of Indian Industries (CII) President, eminent banker Uday Kotak has announced an investor’s summit in J&K in October, in which major industrial groups are expected to participate and unveil concrete ideas for investment in sectors including hospitality, pharmaceuticals, agro-processing and healthcare.

The State Administrative Council (SAC) which met under the chairmanship of Jammu and Kashmir Governor Satya Pal Malik, accorded sanction to the holding of J&K Investor Summit, 2019. The event was to begin in Srinagar on 12 October. It was being told that more than 2000 investors would be invited to this program. The honour ceremony associated with this was to be held in Jammu on 14 October.

But, considering the present situation in the valley, the Government has decided to delay the summit by a month. Though normalcy has been steadily returning back to the valley, the Government probably wants to wait until conditions become absolutely normal in the valley.

At the beginning of the month, according to a statement by the Jammu district Deputy Magistrate Sushma Chauhan, Section 144 (against a gathering of more than 4 people) had been withdrawn from Jammu municipal limits. All school and colleges were set to open from August 10.

The section 144 was already relaxed in Udhampur district where schools opened on August 9 after remaining closed for 5 days. The markets were also opening from 11 AM to 5 PM, and the administration had informed that section 144 will be lifted gradually.

The people in the valley who were confined indoors during the first few days since Article 370 was repealed in the valley, gradually moved out of their houses and started normal daily life. Residents dwelling there had welcomed the audacious decision of the Narendra Modi government, which will transform the future of Jammu and Kashmir.

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Staff reporter at OpIndia

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