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Second Covid wave: J&K Global Investors’ Summit put off indefinitely

summit


Srinagar: Second COVID 19 wave has cast  its dark shadows over the first Global Investors’ Summit in Jammu and Kashmir.

Jammu and Kashmir government has decided to further delay the summit.

 

The summit, which was announced after the abrogation of article 370 in 2019, has hit many roadblocks despite the government’s drive to attract investors to Jammu and Kashmir.

Last year, the summit was postponed in April due to the COVID lockdown. Sources said it is unlikely to be held anytime soon given the second wave of COVID-19.

An official said that the government had almost resumed preparations to hold the summit earlier. 

“The government was considering to hold it in early summer. But I don’t think that the event will be held in the coming months as the second COVID wave has affected every state. Under such circumstances, neither any industrialist will be ready to visit Jammu and Kashmir nor will the administration take any risk of holding this event,” he said.

The official said Jammu and Kashmir administration had also contacted the companies which had shown interest to invest in Jammu and Kashmir last year.

 “Till now many among them have expressed interest to invest in Jammu and Kashmir. The government was in a process to lure some more industrialists, but the process was halted halfway as the second wave hit the country,” he said.

The official said the decision over the summit will be taken “once the country wins the war against COVID-19″/ 

Global Investors’ Summit is the flagship business event of the Jammu and Kashmir government. The union territory administration had scheduled to organize the inaugural edition of the event in Srinagar with a focus on showcasing regulatory environment and investment opportunities in different sectors.

In a run-up to the summit, the administration had conducted several roadshows in different parts of the country, including Mumbai, Chennai, Kolkata, and Bengaluru, and inked 456 memoranda of understanding (MOUs) worth Rs 23,152 crore with different companies.

When contacted, Managing Director SIDCO Mohammad Harun expressed ignorance about the schedule of the summit. “It will be better known to the officials of Jammu and Kashmir Trade Promotion Organization,” he said.