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Srinagar, Aug 4 (UNI) Jammu and Kashmir Minister for Finance, Planning, Law and parliamentary Affairs Tariq Hameed Karra said the state will emerge as the first choice destination for tourists across the globe by 2020.

He said the state was also striving to become the highest producer and exporter of value added horticulture products of International standard and a net exporter of power.

Mr Karra was speaking at third meeting of Northern Regional Council a organised here by Confederation of Indian Industry ( CII) in which nine states like J&K , Uttar Pradesh, Haryana, Punjab, Himachal Pradesh, Uttaranchal, Delhi, Rajastan and Union Territory of Chandigarh participated.

He said by the year 2020, Jammu and Kashmir would emerge as the first choice tourist destination, both domestically and internationally.

He said that state was striving to become the highest producer and exporter of value added horticulture products of International standards.

''State thrusts to utilise full potential of hydraulic resources to become a net exporter of power,'' he said and added the state's traditional advantages in tourism and handicrafts alone might not bring about the desired results in employment generation.

He said there are sufficient grounds to pursue Industrial developments for sustained economic growth of the state as such, Industrial Development with a two prong-strategy of harnessing the states resources for the economic good of the people and creation of jobs in the private sector was a must. This, he said, would be achieved is by shifting the emphasis for provision of jobs to private sector from the government sector.

Mr Karra said there were very explicit advantages to set up industry as the state enjoys one of the best connectivity by road, rail and air in the North-India, offers huge potential in the shape of its mineral resources, good hydrology, enormous forest, agri-business , tourism, horticulture, handicrafts and serene environment for promotion of precision and its industry.

He said in term of policy announced by the government of India investors in the state would enjoy Income tax holiday. Similarly, 100 per cent excise duty exemption on reimbursement basis would be available for ten years from the date of production.

UNI