People of Kashmir are traditionally highly skilled in making carpets, silk textiles, shawls etc. Their handicrafts are appreciated all across the world. Embroideries of Anantnag, woodwork of Kulgam and wood carving of Bijbahera are few examples of handicrafts produced in the valley. The handloom industry which specializes in making pashmina shawls, shahtoosh shawls and ruffle shawls are very famous and appreciated everywhere. Arts and craft industry is the cultural identity of Kashmir. Despite having so much of inherent talent and easy access to raw material, Kashmir has always been lacking in this index of having big industries and the reason is obvious. However, much has changed post abrogation of Article 370 and much appreciated normalcy exists and is further maintained by Indian Army.
Industries role becomes even more crucial in the light of growing population and excessive work force. Increasing population necessitates higher job requirement which can only be met by developing big industries. Till now Valley’s economy was driven by agriculture and service sector which contributed approx 60-70% to its GDP. The growth in industries will provide employment to rural people who are dependent on agriculture for their income and boost the GDP of the UT. It will engage both skilled and unskilled youth and will further push militancy away.
In the year 2021, the valley has received various investment proposals not only from India but also from foreign countries. UT government has received investment proposal worth 150 billion rupees from several companies of different sectors. Few agreements with global investors were also signed in EXPO 2020 Dubai for investments in real estate, infrastructure, tourism and healthcare. UAE based retail giant Lulu group has already signed a MoU with the Union Territory for establishing food processing and logistics hub. They are planning to invest Dh100 million (Rs2 billion) in the Union territory. Jindal steel has been allotted land in Kashmir. With the launch of Single Window Portal, 130 Industrial services have been made online.
Department of Industries and Commerce is also reaching out to people to highlight the Pradhan Mantri employment generation scheme implemented by them. Roufah Gulzar from Pulwama is one of the beneficiaries of it. She established a manufacturing unit for readymade curtains/garments and currently has a turnover of 30 lakhs. Response from the investors has been very positive with some official figures revealing that Department of Industries has received 4114 applications under land allotment policy.
The government is continuously taking steps to promote the manufacturing sector by providing infrastructure support and facilitating access to credit for entrepreneurs. The Jammu and Kashmir Bank has launched a special scheme to provide financial assistance to small and medium enterprises. New Industrial development scheme (2021) will further bring new investment while also nurture the existing industry in Union territory. It will be a transformation for the industrial ecosystem. In the field of IT, several rules have been laid such as providing ” subsidy on rent” to the outside investors, building two huge IT parks-one each in Jammu and Srinagar. To rejuvenate the saffron farming in Kashmir valley, a new Saffron Park has been established just for the sole purpose of processing and promoting the sale of saffron from Kashmir valley
Kashmir enjoys vast potential of hydroelectric power but no serious effort has been made to exploit it. Not only the valley but the whole Union territory suffers from inadequate power supply. Roughly 85-90% of hydro potential are yet to be realized. Power supply is necessary for industrial growth. Therefore, investments have also been done for power generation as three MOUs were signed with National Hydroelectric Power Commission to generate 3000 MW additional power keeping ecological balance in mind. According to the economic survey of 2022-2023, power generation is likely to double in four years and triple in next 8 years in Valley.
With a vision to promote growth of Industry & Commerce in Jammu & Kashmir, the central government is doing their bit to provide entrepreneurial friendly environment which will give impetus to the balanced growth and development of Industrial sector including Cottage and Village industries. The efforts are visible in form of changing lifestyle and rising economic status of people. Further, to bring the broader participation in creating small entrepreneurs, local government needs to step up and disseminate all the policies/schemes to the people living in remote areas.
Peace and stability are vital prerequisites for growth of industries in Kashmir. Last few years, there has been an overall decline in terrorist initiated activities and the valley is witnessing its longest period of normalcy after 1990 which is a major factor attracting investments. Overall, there has been some progress but much has to be done to tap the inherent potential of Kashmiri talent and build full-fledged thriving industries in various sectors like other parts of the country. All agencies need to put concerted effort to realize this dream which will ratify the existing normalcy in Kashmir.
