Jammu & Kashmir, nestling in the lap of Himalayas, is one of the strategically located regions of India. The newly formed UT has innumerable natural strengths and offers immense opportunities across sectors for investors.
The distinct advantages are:
Abundant Raw Material for Agro & Food Processing
Blessed with nature's bounty and 3 agro-climatic zones, enables cultivation of unique produce such as Saffron, Berries, Figs and special variety of rice -MuskhBudji (it possesses harmonious blend of taste, aroma and rich organoleptic properties). Jammu and Kashmir is also the largest producer of Apple, Walnut, Cherry and Almond in India and is also known for Asia's largest tulip garden.
Strategic location for Tourism
Bestowed with picturesque scenic landscape, it is one of the most visited place in north India. It also provides ample opportunities for adventure tourism and is one of the leading regions for spiritual tourism. Jammu & Kashmir still has huge untapped potential that can catapult the UT to become one of the most sought-after tourist locations in the world.
Home to Handloom and Handicraft
J&K is home to world's finest Biovoltine silk and Pashmina wool with the Handloom sector employing about 43,000 weavers across the UT. Major handicraft items include Carpets, Paper Mache and Shawls. The handloom and handicraft industry has exports of INR 5000 Cr.
Policy Reforms and Single Window System
The government of Jammu and Kashmir has taken several initiatives to induce an enabling conducive environment for investors. The government has identified 14 focus sectors and has come up with sector-specific policies, offering fiscal and non-fiscal incentives for investment in these sectors. The UT has implemented 80% reforms of 'Business Reform Action Plan' across all the departments over past two years which has catapulted the state to top ranking among UTs. Government is further working to improve the Ease of Doing Business climate in the UT and is setting up 'Investor Facilitation Cell' to facilitate investors through the clearances and approvals process.
The government has identified over 6000 acres of industrial land bank to develop state of the art infrastructure for industries which will be self-reliant, sustainable and have multimodal connectivity.
J&K at a Glance
The latest UT of India, formed from the erstwhile State of Jammu & Kashmir, key snapshot of the region is as below:
- Area – 2,22,236square kilometres
- Population – 1.25 Crores (as per Census 2011)
- The Gross State Domestic Product of J&K for 2018-19 (at constant prices) is estimated to be Rs 1,16,637 Cr.
- Major tourist destinations – MaaVaishno Devi, Gulmarg, Patni Top, Amarnath
- UT has 3 perennial rivers –Chenab, Jhelum and Ravi
- Leading producer of – Apple, Walnut, Almond, Saffron
- Major producer of – Wool, Figs, Berries
- Industrial Estates – 57
- Airports – 2; International- Srinagar, National -Jammu
- Population between working age of 15-59 years - 66%
- J&K has 60+ large industrial units and 25,000 MSME units
- UT accounts for 10.25% of India's total hydal power production
- Major handloom and handicraft industry with total exports of over 5000 cr. over last 5 years