We are committed to develop a new industrial culture in Jammu Kashmir, LG Manoj Sinha said

The Jammu and Kashmir administration has signed an MoU with the Government of Dubai for logistics and real estate development to speed up industrialization and growth.

The MoU will cover ares like industrial parks, IT towers, multipurpose towers, logistics, medical college, super speciality hospital and more.

The MoU was signed on Monday in the presence of Jammu & Kashmir Lieutenant Governor Manoj Sinha and Union Minister for Commerce and Industries Piyush Goyal, who is on a visit to the Union Territory.

According to Goyal, the Dubai government has decided on large-scale investments in Jammu & Kashmir.

He referred to the potential of food parks and industrial parks in addition to projects in the tourism and hospitality sector.

LG Sinha said the MoU will help the Union Territory scale new heights in industrialization and sustainable growth.

"Today is an important day for the developmental journey of the UT of Jammu Kashmir," Sinha said.

"We are committed to develop a new industrial culture in Jammu Kashmir. This MoU is about Jammu Kashmir's prospect and I am confident it will set the pace in the business sector of the future that are key to the prosperity of the people," he added.

"We are committed to connect Jammu & Kashmir to the rest of India," said Chairman and CEO DP World Sultan Amhed Bin Sulayem. DP World is a global provider of smart logistics solutions.