Development is an essentially an important factor towards modernization for any state to prosper Jammu and Kashmir is an Indian state that has its own distinct and peculiar cultural ethos. The state has a predominant place as it shares the international boundary with Pakistan and China both. The state is full of beautiful natural geographical features and distributed in three main natural regions, namely, Jammu, Kashmir and Ladakh. The state provides huge multi-spectral avenues for the development aspects in the region with the opening of INOX Theater and various malls around Srinagar, Kashmir is clearly progressing towards modernization J&Kâs NSDP increased at around a CAGR (in Rs.) of 8.61% from the year 2015-16 to 2020-21 and reached Rs 1.49 trillion (US$ 20.49 billion) approx. A variety of natural resource base has helped J&K to develop the soil for cultivating major fruits. With varied agro-climatic conditions, the avenue for horticulture is very high in J&K. It also contains an ideal climate for floriculture and an enormous assortment of flora and fauna.
The UT is enriched with the world famous and the traditional handicraft industry, that has emerged as a large industry in last few years. Due to large employment base as well as export potential, the industry has been receiving priority attention of the government. The UT of J&K is also famous for its small-scale and cottage industries such as silks, shawls, basketry, carpet weaving, pottery, copper and silverware, walnut wood and papier-Mache. The rare cottage handicrafts industry provides direct and gainful employment to around 340,000 artisans in total. Total export from J&K stood at US$ 188.18 million in the year 2019-20. In FY21, exports from J&K stood at US$ 159.64 million. J&K has an industrial policy that offers good incentives along with a single-window clearance mechanism. Land is allotted in this policy at concessional rates in industrial areas on lease for 90 years. As of April 2021, J&K had a total installed power generation capacity of 3482.11 MW, comprising 1866.08 MW under central utilities, 1535.98 MW (UT utilities) and 80.05 MW.
A cumulative FDI inflow in J&K was valued at US$ 0.21 million between October 2019 and March 2021, according to the Department for Promotion of Industry and Internal Trade (DPIIT).National Highway Infrastructure Development Corporation (NHIDCL) is making five tunnels in the UT at a cost of US$ 3.42 million. The tunnels will have all weather access and will be completed by 2024 which will provide easy access to higher regions of Kashmir. In 2019-20, the total production of vegetables and fruits in J&K was estimated at 1337.12 thousand metric tons and 2541.16 thousand metric tons, respectively. Between 2019-20, total production of horticulture crops was expected to be 3,912.91 thousand metric tons and area under production was 400.25 thousand hectares. In the month of April 2021, the government of J&K signed 456 memoranda of understanding (MOUs) with various firms for a potential investment worth Rs. 23,152 crores (US$ 3.17 billion) for multi domain development in UT particularly in Srinagar. In February 2021, our Prime Minister Narendra Modi inaugurated the second Khelo India Winter Games in Gulmarg with a keen objective of making Jammu and Kashmir a hub for winter sports and encouraging youth in the positive direction. In 2019, foreign and domestic tourist arrivals were at 57,920 and 16.16 million, respectively which adds on to the over all development in the area and portrays a better picture of the improving conditions after revocation of the Article 370. In October 2020, construction work has started on the Zozila Tunnel in J&K. It includes building a 14.15-km long tunnel under the Zojila pass on NH-1, linking Srinagar and Leh via Dras& Kargil. The tunnel will also provide all-weather connectivity on NH-1 between Srinagar Valley and Leh (Ladakh Plateau) and will bring about an all-round Jammu & Kashmir economic and socio-cultural integration as well. (UTs of J&K and Ladakh). About 150,000 meters of silk cloth is produced per annum in J&K. During Financial Year20, 117 MT of raw silk was produced in the J&K UT and had a production target of approx. 142 MT for Financial Year21. As a UT with unique& distinct features and a strategic location, the fast development of Jammu and Kashmir needs an all-over integrated approach for its better image. The government should prioritize to create a secure environment by improving the law and order situation in the state. State finance must also receive proper attention in order to ensure better finance management a robust policy should be devised to exploit the potential in the multi spectral sectors. The development of potential sectors like horticulture, handloom and handicrafts, biotechnology, tourism and information technology will have strong connection with the balance of the sectors that can lead the state of Jammu and Kashmir to a faster development path.
