J&K signs MoUs with Policy Advocacy Research Centre

Srinagar, June 9: J&K Government today signed historic MoUs – Memoranda of Understanding – with Policy Advocacy Research Centre (PARC) here at Civil Secretariat.

In presence of Lieutenant Governor Manoj Sinha, the MoUs were signed between Navin Kumar Choudhary, Principal Secretary to the Government, Department of Agriculture Production & Farmers’ welfare; Ankita Kar, Managing Director, J&K Trade Promotion Organization and Kiran Shelar, Director, PARC.

The Lt Governor, in his address, observed that the J&K Government, through dynamic economic reforms, is creating a conducive ecosystem for investment, building collaboration, and partnerships to explore new markets and align potential investors for the UT, besides supporting socio-economic development, local opportunities for employment and bringing stakeholders to a common goal of sustainable growth in J&K.

“Action-oriented policies and strategic investments by potential investors will bring ground-breaking transformation in Agriculture & Industrial sectors in J&K while triggering productivity growth and quality upgrading”, remarked the Lt Governor.

Speaking on the future outcomes and the impact the agreements will make on the present economic ecosystem of the UT, the Lt Governor said that with the UT Government’s partnership with the PARC, we are aiming at catalyzing investments and effective policy implementation in sectors contributing to economic growth, job creation, increasing farmers’ income, business opportunities, growth in GDP, and providing sector-wise opportunities to potential investors, besides strategically reaching out to private stakeholders.

A new beginning has been made in J&K’s agriculture sector today. The MoU signed by Agriculture department with PARC will strengthen the end-to-end value chain of agricultural products that would ultimately benefit the farmers and bring structural transformation in agriculture and horticulture sector. The first phase of the agreement focuses on Millet and Pulses in Rajouri, Poonch, and Banihal sub-divisions, observed the Lt Governor.

In the coming days, other districts will be included for value addition of agricultural and horticulture products, creating national and international farm-to-market linkages, he added.

Underscoring the positives of the MoU signed between J&K Trade Promotion Organization and PARC, the Lt Governor maintained that the new venture will expand the reach of the UT at the national level to promote business, investment, and employment in J&K. Best practices of other investment-friendly States/UTs will be implemented in J&K, thus making it a more preferred destination for the investors.

It will also be our endeavour to identify and invite the firms listed in the Bombay Stock Exchange to invest in J&K. It will not only limit to the investment aspect only, we will also partner with firms for the capacity building of local entrepreneurs, added the Lt Governor.

While speaking on the occasion, Dr. Arun Kumar Mehta, Chief Secretary, termed J&K Administration as one of the most transparent across the country that has brought a fundamental change in the socio-economic ecosystem of the UT. J&K offers immense opportunities for the investors in various growth potential sectors which can contribute towards economic growth, employment creation, trade opportunities in the Union Territory, he added.

We are working on Prime Minister’s vision of doubling the farmer’s income through immediate implementation of major policy decisions and interventions, besides linking local products to the wider markets, said Navin Kumar Choudhary, Principal Secretary, Department of Agriculture Production & Farmers’ welfare.

In his address, Ranjan Prakash Thakur, Principal Secretary, Industries & Commerce Department said that J&K is witnessing the dawn of the new era of socio-economic development.

Transparency, faster decision-making and commitment to the development of J&K- motto of our administration. We are offering best incentives and economic packages to facilitate the stakeholders of industrial sector, he added.

Ashish Kumar Chauhan, Managing Director, Bombay Stock Exchange (BSE) informed the chair that around 200 youth from J&K have been imparted the training in Banking, Financial Services and Insurance (BFSI) Sector through Livelihood Generation Training Programme under the ambit of BSE and Mission Youth, J&K.

Vikram Sankaranarayanan, Executive Director, PARC delivered the Directorial address, while Kiran Shelar, Director, PARC presented the Vote of Thanks.

Nitishwar Kumar, Principal Secretary to the Lt Governor; Ambarish Datta, Managing Director and CEO, BSE Institute Limited, and other senior Government officials and members of PARC were present on the occasion.

Entrepreneurs of companies like Acme Process Systems Pvt. Ltd, Okie Ventures Pvt. Ltd , SK SPL group and Quest Global, who are on their visit to J&K to assess the investment prospect in their relevant sectors were also present.