Jammu and Kashmir administration today signed a Memorandum of Understanding (MoU) with the Government of Dubai for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, a super specialty hospital, and more.

Commerce and Industry Minister Piyush Goyal said that the signing of the MoU with the Dubai government 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 in that as well.

Govt is confident that the MoU will open doors for investment in the region from the entire globe and will prove to be a big developmental push. Minister Goyal said that different entities from Dubai have shown keen interest in investment. Recently, PM Modi-led Union government has announced an industrial package of 28,400 Crore rupees for the development in the region.

Terming it a momentous occasion for the UT of Jammu and Kashmir, Jammu and Kashmir LG Manoj Sinha said that this development journey will help the Union Territory to scale new heights in Industrialization and sustainable growth.

On his two-day visit to the Union Territory, Cabinet Minister Goyal visited Pahalgam in J&K today. He met with delegations of industrialists from the valley. The industrialists raised the issues faced by various industries, specially the issues faced in exports of the Kashmiri Shawls.

Discussions also took place regarding the new industrial package announced and how the local industry could be benefitted from the newly announced industrial package. To resolve the bottlenecks faced in exports of Kashmiri Shawls, Minister directed the authorities to set up Testing facilities at Srinagar and at Delhi Airport and also upgrade the local testing facilities.

Goyal also proposed setting up a Carpet Village in the region that will act as a demonstration center of the local craft to the visiting tourists and also promote the local carpet industry globally.