Investor summit likely by April end

Domestic road shows to start from Feb 14Govt mulling to offer tax free holiday, stamp duty exemption to companies  After much wait, the government is planning to hold first-ever investor summit in Kashmir likely by April end though the final date is yet to be decided.According to sources, the concerned authorities are mulling to hold the event in the second or third week of April.“The dates are getting finalised. So far the government is considering April end. As a tentative date,” the sources said.However, they said to kick-start the campaign for the event, the government is set to hold several domestic road shows across India from February 14.The places identified for the campaign to lure big companies to invest in J&K include Bengaluru, Kolkata, Mumbai, Chennai, Hyderabad, Ahmadabad and Surat.“This is the first phase of road shows that the government has planned,” the sources said. “Some international road shows are also in the pipeline.”The government has identified 14 sectors to invite companies across the world for investment.The sectors that the government identified include tourism, agro and food processing, manufacturing, IIT and IT, health and pharmaceuticals, skill development, milk, poultry and wool, infrastructure and real estate, herbal and medicine plants, film sector, renewable energy, agriculture and mulberry, handloom, handicrafts and horticulture.Moreover, to lure the companies to invest in the erstwhile State, the government is also planning to provide free tax holiday and stamp duty exemption.The sources said the road shows would be led by the concerned Commissioner Secretaries of all the departments. Moreover, people from the industrial sector would also accompany the government officials on the shows.As per the blue print of the events, the government plans to hold at least six domestic and six international road shows and an ambassadors’ roundtable before the main event.After the abrogation of Article 370 and bifurcation of the State into two Union Territories – Jammu Kashmir and Ladakh, Government of India (GoI) toiling hard to bring investors into the Valley for the investment to justify its unilateral decision.Talking to Rising Kashmir, Managing Director SIDCO, Ravinder Kumar who is spearheading the investor summit in Kashmir, said so far 66 companies with an investment of Rs 23,000 crore had submitted the Expression of Interest (EoI) before the government.“The preparations are going on. We are consistently getting EoIs from various companies across India for investment,” Kumar said.The government targets to bring in investment commitments of more than Rs 1 lakh crore in the region.The investor’s summit was earlier scheduled to take place in October last year.However, it was postponed due to shutdown in the Valley following the abrogation of Article 370.

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