 Early Times Report
SRINAGAR, Oct 13: Chief Minister Omar Abdullah on Monday reiterated his government’s commitment to addressing infrastructural and other constraints to make Jammu and Kashmir a more attractive destination for investment and manufacturing.
He was speaking during an interactive session with the Federation of Indian Export Organizations (FIEO) held in Srinagar.
The meeting was attended by FIEO President S.C. Ralhan, Vice President Shrikant Kapoor, DG & CEO Ajay Sahai, regional chairpersons, past presidents, board members and other dignitaries.
The session discussed various opportunities of collaboration between J&K government and key representatives of India’s export community.
Welcoming the FIEO delegation to Srinagar, the Chief Minister said that the organization’s decision to hold its Board of Management meeting in the city was “an important vote of confidence” in Jammu and Kashmir. “Your presence here is very reassuring for us,” he remarked, adding that J&K has always valued its long-standing association with India’s trade and export community.
During his address, Omar Abdullah outlined the government’s ongoing efforts to expand investment opportunities in J&K.
“That is something, as a conscious effort, my government is trying to address so that we can attract more investment into Jammu and Kashmir, more manufacturing. Recognizing the constraints that we have, we are trying to address the infrastructure gaps,” he said.
He acknowledged the unique challenges that J&K faces due to its geography and limited resources, stating that the government’s focus is on leveraging sectors where Jammu and Kashmir holds inherent advantages. These include agriculture, horticulture, handicrafts, pharmaceuticals, IT services and electronics.
Speaking about the overall business environment, Omar Abdullah highlighted that confidence continues to play a crucial role in shaping the region’s industry. He noted, “Confidence is one of the most vital elements for business, and regrettably, Jammu and Kashmir has been deprived of it for the past 30 to 35 years.” He added, “We are doing everything possible to ensure that this lack of confidence does not define our future.”
Highlighting the resilience of the local economy, he said, “Given the extent of the challenges that we face and the disadvantages inherent to doing business in Jammu and Kashmir, we are still an economy that is growing reasonably well. Our own estimate is that our GDP will grow in the double digits, around 10–11% this year.”
At the same time, the Chief Minister expressed concern over the economic repercussions of recent events, noting that tourism has suffered a serious setback. The impact, he said, has spilled over into agriculture, horticulture, handicrafts sectors and also impacted exports.
He underlined the government’s priority to position Jammu & Kashmir as a hub for MSMEs and high-value, low-volume industries, mentioning that the region once had a budding high-tech manufacturing base before militancy disrupted progress in the late 1980s. “Prior to the militancy breaking out in 1989, Kashmir was emerging as a hub for new high-tech manufacturing industries. We believe those are the areas of economy that remain ripe for revitalization,” he noted.
The Chief Minister emphasized several advantages that could support renewed industrial growth in the region, including competitive electricity rates, an educated young workforce, and favourable policy frameworks. However, he acknowledged that the perception of the region as a risky business destination has to change for the better.
Concluding his remarks, Omar Abdullah thanked the FIEO delegation once again for their presence in Srinagar, stating:
“Your presence here does, to a large extent, enable us to try and change the perception of Jammu & Kashmir being too unsafe to visit. I thank all of you for choosing Srinagar for your Board of Management meeting, and I look forward to more such engagements that can help J&K move forward.” |
