Jammu & Kashmir is an Area of Strong Potential for Development
“Jammu & Kashmir is an area of strong potential for development as it enjoys a range of natural resources and immense talent,” stated Mr Uday Kotak, President Designate, CII in a press release on the conversion of the state into two union territories. “The region’s per capita NSDP at Rs 63,995 stands at about 55% of the national average, and agriculture accounts for 80% of the output. Strong efforts from the Government and industry, including local businesses, are the need of the hour to raise its growth rate and create new opportunities for employment and livelihoods,” he added.
CII has recommended a ten-point policy agenda for growth of the region, relating to sustainable industrial growth, a better investment climate and boosting specific sectors such as tourism, infrastructure and connectivity, agriculture and horticulture, and renewable energy, among others.
Strengthening MSME, improving access to finance, and elevating education and skill development will be central to the progress of the hard-working people of the region. With the recent significant changes, investment and land purchases for industrial and social development shall be possible, as we look forward to economic prosperity, according to CII.
Towards this, CII is partnering with the local government in organizing an Investor's Summit to attract investments. CII would continue to work with the new administration in the two union territories of Jammu & Kashmir and Ladakh for ensuring faster development in this vital region of the country.