Karnataka Becomes Second State After Maharashtra To Announce Investment In J&K’s Tourism Sector

The Karnataka government has proposed to invest in the tourism and hospitality sector of Jammu and Kashmir, and Ladakh as abrogation of Article 370 has opened doors for rest of the Indians to buy land property in the region, reports The Economic Times.

BS Yeddyurappa government has written to Jammu and Kashmir Governor Satya Pal Malik regarding the offer. Karnataka is the second state after Maharashtra to have come up with the offer. Maharashtra has proposed to build resorts in Srinagar and Ladakh.

Earlier Karnataka Tourism Minister CT Ravi had said, “We will soon place a proposal before the cabinet and get its approval before writing to the Centre and J&K governor seeking permission to invest there.”

The plan is to make capital investment in the valley, buy land, and hand it over to state-owned Karnataka State Tourism Development Corporation (KSTDC) to
develop hotels or reports.

The Central government and J&K administration have been branding to attract investment after the special status of the erstwhile state is gone and the moves by both BJP-rules states is expected to amplify the campaigning.

Investment in the region will also promise better infrastructure and employment opportunities for local youth.