J&K to seek investment at Arab-India economic forum

Jammu, Nov 15 (IANS) The Jammu and Kashmir government is eyeing the Arab-India Economic Forum to invite investment in the state in critical sectors including infrastructure and tourism.

State Finance Minister Haseeb Drabu left for the United Arab Emirates (UAE) on Sunday to attend the maiden conclave of the Arab-India Economic Forum (AIEF) in Dubai on November 16-17.

“Nearly 300 delegates from the Arab World and India will be attending the first AIEF to highlight investment opportunities in India and discuss solutions to meet investor challenges in the country.

“The focus of the summit will be investment in critical sectors like infrastructure, tourism, renewable energy and banking. A special session at the two-day conclave is being held with focus on investment opportunities in Jammu and Kashmir,” an official statement here said.

The event is expected to draw delegates, mainly business leaders, from the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Jordan and Egypt besides India.

Union Finance Minister Arun Jaitley will launch the conclave where Jammu and Kashmir Finance Minister Drabu has been invited to deliver the keynote address.

According to Drabu, AIEF will feature discussions on the extensive economic opportunities that can be leveraged between Arab nations and India for investment.

“I would explore the possibility of seeking some investment in Jammu and Kashmir at the Forum,” he said.

“The Forum will also address the policy framework and guidelines required to draw the attention of Arab investors and industrialists while providing a strong platform for Indian businesses aiming to explore the Middle East market,” Drabu said before leaving for the conclave.

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