 New Delhi, Feb 21:
Agencies
Terming the first budget of the Union Territory of Jammu and Kashmir a “good start” to lay the foundation for the next five years, Chief Minister Omar Abdullah on Friday said that the government led by him will try its best to live up to the expectations of people.
Talking to reporters here the Chief Minister said, “I know all the issues cannot be resolved in the first Budget, but it would be a good beginning to lay the foundation and move ahead.”
Earlier, addressing Confederation of Indian Industry (CII) Jammu & Kashmir Annual Session-2025 titled “AMAZING J&K: Aspiring For New Growth Goals,
Omar asked the people associated with industries and other businesses to give suggestions and inputs to him for the upcoming budget.
The Chief Minister emphasized that such interactions are pivotal to enhancing efficiency, competitiveness, and creating business opportunities for industries through a range of specialized services and strategic global linkages.
“It also provides a platform for consensus-building and networking on key issues,” he added.
The Chief Minister sought suggestions and valuable insights from the participating entrepreneurs and other stakeholders that can be incorporated into the upcoming budget of Jammu and Kashmir for the overall welfare and benefit of the public, as well as for industries, tourism, and other sectors.
He emphasized the need for responsible entrepreneurial practices to foster an economic ecosystem that ensures sustainability across J&K.
While advocating for expanding investments in J&K, the Chief Minister underscored that such investments must be regulated by laws protecting the agricultural land and having land investment safeguards, like in Himachal Pradesh which has put reasonable restrictions and at the same time it would ensur
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The Chief Minister noted that Himachal Pradesh has adopted a strict policy in this regard and stressed the adoption of a similar policy in J&K.
He commended the resilience of J&K’s industry, acknowledging businesses that have endured challenging times without solely relying on government subsidies. He stressed the importance of ensuring long-term business sustainability, proposing a mechanism to track businesses’ viability beyond ten years.
On the ease of doing business, the Chief Minister advocated for a genuine single-window clearance system, addressing concerns over bureaucratic hurdles, particularly in obtaining clearances from forest and environment boards, which hinder manufacturing growth.
Minister for Food, Civil Supplies & Consumer Affairs, Satish Sharma, who attended the event as Guest of Honour, also spoke at the event. He emphasized the need to address past deficiencies and underscored the importance of promoting sports tourism, health tourism, and border tourism while leveraging Kashmir’s renowned hospitality through innovative marketing strategies.
Madhav Singhania, Joint Managing Director & CEO, JK Cements Limited & Chairman, Confederation of Indian Industry, Northern Region; Syed Junaid Altaf Group Executive Director, FIL Industries Pvt. Ltd. & Chairman, CII J&K; Dr. M. A. Alim Director, Package Design Industries & Vice Chairman CII J&K were also present on the occasion.
The event, organized by the Confederation of Indian Industry (CII) J&K Council, brought together business leaders, industrialists, entrepreneurs, and other stakeholders to discuss strategic actions to boost J&K’s economic growth and development, driving the region’s competitiveness and business potential through a robust and resilient industrial and sustainable entrepreneurship ecosystem. |
