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COVID crisis hits JK Global Investors Summit

Srinagar: Much-hyped Global Investors Summit is likely to be deferred in Jammu and Kashmir following the COVID 19 pandemic.

 The summit was scheduled to be held in April in both the regions of Union Territory.

 

Jammu and Kashmir government had gone all out to secure investment commitment worth Rs 1 lakh crore from different industrialists and corporates for the summit. 

The government had completed all the formalities for the event in February this year.

The department of Industries and Commerce had already identified 6000 acres of land –5000 in Jammu and 1000 in Kashmir- for investors. The government had identified 14 sectors for the investment in J&K. These include manufacturing, IT sector, tourism hospitality, film production, agriculture, milk poultry, wool production processing silk, handlooms, handicrafts, healthcare, medicinal plants, education, skill development infrastructure, and real estate. 

Sources said the government is unlikely to hold the event anytime soon given the coronavirus pandemic and lockdown.

 “The date for the Global Investors Summit will be fixed once the lockdown is over. I think the administration will postpone the event by another two to three months,” said an official.

 Director Industries and Commerce Mahmood Ahmad Shah expressed ignorance about the date for the event. “Right now the entire country is hit by the pandemic and we honestly don’t know when the event will be held,” he said.

 Managing Director SIDCO, Ravinder Kumar said the event is unlikely to be held on the scheduled date.

He said they haven’t received anything in writing from the administration about holding or postponing the event so far.

“Since the meetings have been restricted due to the coronavirus pandemic, there is no new update on the summit. We are sending a file regarding the event. We can’t say anything till we receive written communication from the administration,” Kumar told The Kashmir Monitor.