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“[Jammu and Kashmir] is a very scenic place and I’m going to have a film city there so that people can come and shoot films there, and for tourism,” BR Shetty, the founder of NMC Healthcare and financial technology start-up Finablr, told Arabian Business.
Mr Shetty, a long-term resident of Abu Dhabi, said he had already received land offers from Jammu, Kashmir and Ladakh for the same and added that the film city will cover 12 square kilometres.
Top businessmen, including Mr Shetty, pledged to invest in India during Indian Prime Minister Narendra Modi UAE visit last month.
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The announcement came weeks after the Indian government revoked Article 370 of the constitution that granted special status to Jammu and Kashmir. It made it possible for non-permanent residents to purchase property in Jammu and Kashmir.
In 2017, the UAE based entrepreneur announced his plans to invest INR1,000 crores in a film called The Mahabharata.