During the Pravasi Bharatiya Diwas (PBD), a fairly large number of NRIs showed keen interest in investing in the Valley to help the state, fighting from militancy and violence, rebuild itself.
It is not just the rich Gujarati Non Resident Indians (NRIs) wanting to come back and invest their wealth in home state. It is now the turn of the Kashmiri NRIs - young, educated, professional and wealthy -- who are eager to invest in the troubled home state.
During the Pravasi Bharatiya Diwas (PBD), a fairly large number of NRIs showed keen interest in investing in the Valley to help the state, fighting from militancy and violence, rebuild itself. Many of them had moved out of the state generations back due to militancy. Interestingly, after having seen 9/11 and 26/11, violence wasn’t of much concern for them anymore. They believed terrorism was not Kashmir’s problem alone but an international predicament, so why isolate Jammu and Kashmir in the name of terrorism.
The NRIs showed keen interest in helping the state with medical tourism, promoting adventure by developing world- class skiing resorts, setting up power projects using solar energy, vocational training institutes and the banking and finance sector.
Interestingly, many of them had come prepared with project details of the investment they wanted to make.
For instance, Abrar, a young entrepreneur from the United States had plans for using solar technology for power generation. He engaged in a long discussion with Bipul Pathak, managing director of J&K State Power Development Corporation.
An NRI wanted to set up a training centre to train Kashmiri youth as loan officers who could work in the micro-financing sector. Similarly, there were queries from Anita Kaul, an active member of the Kashmir group in the US, on how the diaspora could engage more actively in the economic and general growth of the state.
What probably charmed the investors more was the young dynamic chief minister Omar Abdullah who made an emotional appeal to the diaspora to “give Kashmir a fair chance.”
“I cannot claim that militancy had died down in Kashmir. If violence doesn’t stop you from investing in Maoist-hit states, then why not invest in Kashmir? J&K was suffering because people had a perception about it being a terrorist-affected state,” Abdullah said. He added that his priority was to address the problem of massive unemployment.
“No investment or infrastructure has been targeted by the militants. Locals facilitate their smooth functioning since they have a stake in it. Join hands for economic resurgence,” said Devinder Rana, political advisor to the J&K chief minister.
“Come to us with more ideas. Invest in Kashmir and you won’t find us wanting. The projects ready in all aspects will get a sanction within 15 days,” said J&K industry minister SS Salathia.
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