'Work is on': Finance Minister says govt policy to attract more investment to J&K out soon

The minister listed out the investment possibilities Jammu and Kashmir carries in different sectors like tourism, fine arts, handicrafts, woodwork, carpets, silk, production of saffron and apple.

Published: 17th October 2019 11:40 AM  |   Last Updated: 17th October 2019 11:40 AM   |  A+A-

Union Finance Minister Nirmala Sitharaman in US (Photo | USISPF Twitter)‏

By PTI

WASHINGTON: The details of the government's policy to attract more investments in Jammu and Kashmir would be available very soon, Finance Minister Nirmala Sitharaman said, listing out the potential the area carries for investors in sectors like tourism, handicrafts, silk, production of saffron and apple.

Sitharaman made the comments while responding to a question during an interactive session with investors at the IMF headquarters here on Wednesday.The event was organized by the Federation of Indian Chambers of Commerce and Industry and US India Strategic and Partnership Forum.

"We have started working in terms of making sure that the full potential of Jammu and Kashmir from various different aspects (is achieved)," she said.

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The minister listed out the investment possibilities Jammu and Kashmir carries in different sectors like tourism, fine arts, handicrafts, woodwork, carpets, silk, production of saffron and apple.

"I think sooner the details of it (new policy) will be available," she said.

India on August 5 scrapped Jammu and Kashmir's special status and bifurcated it into two Union Territories -- Jammu and Kashmir and Ladakh.

In his address to the nation after revoking the special status given to Jammu and Kashmir, Prime Minister Narendra Modi said state companies as well as private companies will be encouraged to create jobs for the local youth in the region.

"So very many things are all being put together to see how best a plan can be done," Sitharaman said.

Sooner, some kind of pattern would be worked out between the union home ministry and finance ministry and announced.

"Work is on," she said, while responding to a question from a Dubai-based investor who is trying to mobilise funds to invest in Jammu and Kashmir.

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