Saudi Press

Saudi Arabia and the world
Sunday, Aug 24, 2025

Businesses from Indian-administered Kashmir eye new possibilities with UAE investment

Businesses from Indian-administered Kashmir eye new possibilities with UAE investment

The first foreign investment in Jammu and Kashmir has ignited hopes for more opportunities in the restive Indian-administered region, local authorities and business leaders told Arab News, as Dubai’s Emaar Group is due to build a shopping mall and office complex in its largest city.
Dozens of Emirati businessmen participated in an investment summit organized by the UAE-India Business Council and the local government in Srinagar on March 19, where Emaar — Dubai’s largest listed developer — held the ground-breaking ceremony for the $60 million Mall of Srinagar.

“It was a historic India-UAE investor meet at Srinagar, which marked the new dawn of limitless possibilities. It was also a unique opportunity for free and frank exchanges of views on issues and opportunities for investment in the state of Jammu and Kashmir,” UIBC director general Mohsin Khan told Arab News.

“The constructive discussion, which was held on various sectors, particularly agricultural and allied sectors, hospitality, education, tourism and other industry sectors, will also explore and ground investment opportunities which will further strengthen our long-term partnership with (the) UAE and the rest of the Gulf countries,” said Khan.

Economic activity in Kashmir has plunged since the Indian government revoked its special autonomous status, and split it into two federally governed territories, promising security and reform in August 2019.

The Muslim-majority Himalayan territory is claimed in full but ruled in part by nuclear archrivals India and Pakistan, who have fought two wars over control of the territory. Indian-controlled Kashmir has for decades witnessed outbreaks of separatist insurgency to resist control from the government in New Delhi.

As Indian officials have tried for years to woo both domestic and foreign investors with little success, the latest development has sparked fresh hopes for business leaders in the region.

“We welcome the FDI investment meeting in Kashmir ... There is potential in lots of sectors. I hope more people will come for investment in Kashmir,” Javid Tenga, president of the Kashmir Chamber of Commerce and Industry, told Arab News.

He also saw the immediate employment creation potential in the region where the unemployment rate is about 15 percent — double India’s average.

“There is a big opportunity in the tourism and horticulture sectors,” Tenga said. “Obviously, jobs will be created and our young boys are looking for jobs.”

Indian Emirati-based multinational conglomerate LuLu Group, which will be the anchor tenant of the Mall of Srinagar, said it is already planning more activities in Kashmir.

“We have earmarked 250 crore rupees ($30 million) in the first phase of investment in Jammu and Kashmir in setting up a hypermarket inside the Mall of Srinagar, as well as setting up a food processing center there to export to the Gulf market,” LuLu marketing and communications director V. Nandakumar, told Arab News.

Since last year, the conglomerate has been importing saffron, apples and dry fruits from the region. “The work for the food processing center has already begun and it should be ready by another one year,” Nandakumar said.

“The current climate there is very conducive to investment not only to us but many other companies in India and outside India are showing keen interests.”
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
×