Saturday, July 20, 2024

Dubai’s Emaar Becomes First Foreign Company to Invest in India’s Jummu & Kashmir

Dubai’s Emaar Group is to invest with Indian Kashmir due to build a $60 million shopping and office complex, as government is looking forward to stabilise an area where Muslim separatists have for years battled the government.

The investment of $60.50 million, which is around 5 billion rupee would include a mall and multi purpose commercial tower in Srinagar, the capital of the Muslim-majority Himalayan region, the firm announced in an investment summit.

Announcement made recently of what the region’s government stated it’s the first foreign investment comes after the central government shared a statement, “Jammu and Kashmir had received record investment of 15 billion rupees ($181 million) in the first 10 months of the 2022-23 (April-March) fiscal year.”

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