UAE companies are showing interest in Jammu and Kashmir for investment and trade

Posted On 2021-10-18

The past week has witnessed two UAE major companies, Lulu Group International and DP world, showing interest in establishing commercial ties with Jammu and Kashmir (JK).

On October 18, 2021, the Government of Dubai and the Government of Jammu Kashmir entered into an agreement to help the Indian Union Territory scale new height in Industrialization sustainable growth. Speaking on occasion, Lt. Governor of J&K has thanked Indian Prime Minister and Home Minister for the Unprecedented development of Jammu Kashmir and said that this Memorandum of Understanding reaffirms our commitment to build Aatm Nirbhar Jammu Kashmir.

 

Indian minister of commerce reiterated that JK would play a significant contributing role in India's development and overseas trade. Logistics, tourism, industrial and food parks are some large potential areas in this state to explore.

Sultan Ahmed Bin Sulayem, Group Chairman & CEO of DP World, also mentioned the potential scope of cooperation in carpet and agricultural products.

Earlier on 14th and 15th October, UAE-based NRI business tycoon Yusuffali M. A. had a meeting with the Indian Prime Minister and Home minister separately for his Group's expansion plan in India, including Gujarat and plan for significant imports from Kashmir to the Gulf countries.

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