On Sunday, the Jammu Kashmir lieutenant Governor Manoj Sinha laid the foundation of a 250 crore mall in Srinagar outskirts. Hence it set the beginning for Foreign Direct Investment (FDI) in Jammu and Kashmir. The mall will be spread over 1000000 square feet of land and will have all the facilities that any mall in the world has.
The investment came a month later JSW group invested Rs 150 crore in Lassipora, Pulwama to set up a steel plant with its humble inauguration. The Union government claims that Jammu Kashmir received proposals worth Rs 1500 crores during the last financial year. This was stated by the Union Minister of state Home Affairs Nityanand Rai in Lok Sabha.
“During 2022-23 till January, a record investment of Rs 1,547.87 crore has been received by the Union Territory and this investment during the current financial year is the highest ever compared to any of the previous financial years,” he said replying to a written question.
Emaar, in attracting FDI is a big boost for the Jammu Kashmir administration. The Dubai based international brand is a business tycoon earns the distinction of building Burj Khalifa in Dubai and its decision of investing in Jammu Kashmir may have long sighted benefits for the local administration.
“Today is the historic day for the J&K as the United Arab Emirates (UAE) based EMAAR Group has decided to invest Rs 250 Crore to set up a mega-mall on the 10 lakh square feet area at Sempora, Srinagar. This is a moment of pride. The Emaar group will also invest in setting up IT towers in Jammu and Srinagar, besides the mall and total investment by the group will touch Rs 500 Crore,” said the LG Manoj Sinha while inaugurating the project.
Sinha, however, said that the investment of EMAAR is a beginning for many more such ambitious projects and his government is successfully working on changing the negative mindset of people.
“Some people have a negative mindset in J&K and continue to criticize the government policies as they can’t digest the huge development taking place in the UT. J&K has witnessed a huge sea change post August 5, 2019. The government land was kept under illegal possession by some people that was retrieved. The land retrieved will be used for setting up industries, playgrounds for youth and graveyards for the people,” he added.
On August 5, 2019, the Union Government led by Prime Minister Narendra Modi scrapped provisions of Article 370 and 35 A. His government justified the move stating that constitutional privileges have left far behind the border state in development and bars investors. He had said Jammu Kashmir can only grow once it attracts investments from across the world. He even said that constitutional privileges to Jammu Kashmir limits the center’s intervention and encourages separatism in the erstwhile state.
The investments on the other hand even have pushed the local mainstream parties to back foot since they have been critical to the claims of the central government that article 370 abrogation will bring massive investments to Jammu and Kashmir.
The central government is of the opinion that in the next few years, top business tycoons of the world will begin to invest in Jammu Kashmir since militancy is almost at a dwindling stage.
“There have been coercive measures taken against the militancy in the Union Territory. It was not only the militants who were targeted but its eco system was attacked and dismantled which showed positive results,” said one of the senior police officers to The Legitimate.
He said since the number of active militants has come down to double figures, it is most likely that in the next few years, we can claim Kashmir is militancy free.
However, the security agencies are fighting yet another fight to curb drug menace in the UT. The director General of Police Dilbagh Singh has said that the year 2023 will be dedicated to fight against drugs and countering its infiltration into Jammu and Kashmir from Pakistan.
The police believe that Pakistan is pushing drugs into Kashmir from borders that helps them to finance terrorism not only in Kashmir but across India.
“As long as the routes are not seized and drugs stop form entering into Kashmir, it is unlikely terrorism will come to an end. Since we need to curb its financial system and drugs is one among that,” said the police officer.
Alone in District Baramulla during the last two months, the police seized drugs worth 2.5 crores.
“Baramulla shares borders with Pakistan Occupied Jammu Kashmir (PoJK) through which the drugs are being pushed here. So, we are working to curb it and identify all people here who are its recipients,” the police officer added.
Meanwhile, the centre government is planning to set up 25 police posts alongside the Line of Control in North Kashmir to check the supply of drugs across the borders.
