Confederation of Indian Industry to support initiatives for investment in Jammu and Kashmir: Uday Kotak

The Confederation of Indian Industry (CII) will support government and private initiatives to promote investments in Jammu and Kashmir, its President-Designate Uday Kotak said on Friday.

"There is a view that we would like to see investments come across various sectors in Jammu and Kashmir," he said at the CII National Council Meeting here which was attended by Finance Minister Nirmala Sitharaman.

The Managing Director and CEO of Kotak Mahindra Bank said the CII has already conveyed its view to the government.

Parliament has revoked Article 370 granting special status to Jammu and Kashmir and passed the J&K Reorganisation Bill, bifurcating the state into two union territories: Jammu and Kashmir and Ladakh.

In his address to the nation on Thursday, Prime Minister Narendra Modi spoke about creating employment in the region through public-private partnerships. He said Jammu and Kashmir stands on the cusp of a fresh start, one that is marked by peace, democracy, and development.