May 2005 News

Top Indian Corporate Heads Gather In Kashmir

6 May 2005

Srinagar: Leading corporate heads of India are in Srinagar to explore investment opportunities in strife torn Kashmir, which is gradually returning toward normalcy following recent peace moves by India and Pakistan. The group led by Reserve Bank of India director Y V Reddy Saturday had an informal meet with the Chief Minister Mufti Mohammad Sayeed and discussed issues concerning economic development of the state. A large number of corporate heads including the chief executives of Infosys Technologies Ltd, Hindustan Lever Ltd, Mahindra and Mahindra Group and Ranbaxy Ltd, who are on the RBI Board, were present. M Y Khan and Haseeb Drabu, the outgoing and incoming chairman, J&K Bank, respectively, also participated. The chief minister asked the corporate sector to invest in the state and in particular urged the Infosys chief, N R Narayanamurti to set up outsourcing centers in Kashmir, where qualified human resource is available. Infosys is one of world's leading software company. He said Infosys arrival in Kashmir would lead to the change of mindset of youth especially when the government has not enough means to absorb them in the government sector. He said the Reliance India Ltd is setting up a management institute in the valley on the pattern of its Ahmadabad institute. Narayanamurti assured the chief minister that he would seriously consider the proposal and in fact visited the Information Technology Park in Srinagar to personally have the feel of the local IT talent available here. The chief executive officer of the automobile giant, Mahindra and Mahindra Group, Arun Nanda showed keen interest in the development of a high standard tourist destination in central Kashmir. He had visited the spot Friday to explore the possibilities of investment. The corporate heads were in agreement that Jammu and Kashmir deserves their special attention and investment in the state would help consolidate the gains of peace and ensure its rapid development.


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