New Delhi, July 11: While addressing the global audience through the virtual event at 'India global week 2020', Lieutenant Governor of Jammu and Kashmir Girish Chandra Murmu on Saturday spoke on a plethora of prospects and opportunities being extended to private investments in India and abroad to invest in Jammu and Kashmir.

Highlighting the initiatives taken by the Jammu and Kashmir government to transform the region into a major investment destination for sustainable development, Lt. Governor Murmu said, "Jammu and Kashmir is the region with immense economic potential. It will be our endeavour to create an ecosystem to support infrastructure and policy architecture that will not only propel growth and create employment but will also lead to sustainable development." Also Read | Ganesh Chaturthi 2020: Maharashtra Government Issues Guidelines Ganesh Mandals; Makes Registration Mandatory, Restricts Idol Size To 4 Feet.

Presently the J-K has 25 thousand MSMEs. It has also come up with various sector-specific policies. "14 sectors have been identified for privatisation for investments," he said.

The session discussed the key steps on how the Central Government is helping in reviving its various industrial sectors such as tourism, agriculture handicrafts. Also Read | Meghalaya Govt Announces Total Lockdown in Shillong on Monday and Tuesday: Live News Breaking & Coronavirus Updates on July 11, 2020.

"We have removed all regulatory and institutional barriers between Jammu and Kashmir and rest of India. The legal architecture and regulatory regime prevailing in the other parts of the country has been made applicable in Jammu and Kashmir," said Murmu.

The scrapping of Art 370 has provided immense opportunities in increased investments, improve stability and social equality in the region, said Murmu. Murmu emphasised that it is an endeavour to create and stabilise an environment of business opportunities have been extended towards private investments from India and abroad.

The government at present is making an effort to revive the rural economy by pumping local investments. Murmu informs "Last one year has seen tremendous change in terms of good governance, deliverance, Development, infrastructure and social profile of the territory. More than 800 languishing projects have been completed in the last one year of public importance."

Highlighting the importance of the tourism industry playing a vital role in the development of the region, he said that the region attracts 10 million tourists each year.

The final day of three days virtual conference themed "BeTheRevival: India and a Better New World, India Global Week 2020" witnessed 5000 global participants from 30 nations and was addressed by 250 global speakers across 75 sessions.

The event focussed on sharing ideas and ambitions by propelling understanding and partnerships. This served as an opportune moment for some of the brightest minds in the world to come together to deliberate and chart a way forward for India and the rest of the world.

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