Jammu and Kashmir

Home>About>Chapter>India>Northern Chapter>Jammu and Kashmir

Jammu and Kashmir (J&K), located in the northernmost part of India, is famous for its stunning landscapes, vibrant culture, and historical significance. Known as “Paradise on Earth,” J&K is a unique blend of natural beauty, spiritual heritage, and emerging industrial potential. The state is focusing on reviving its economy through investments in infrastructure, tourism, horticulture, and manufacturing, making it a rapidly developing region.

Economic Snapshot:

GSDP (at current prices): ₹1.32 lakh crore (FY23)
GSDP Growth Rate (CAGR 2017-2023): 6.3%
Per Capita Income: ₹1,26,000 (FY23)
Share in India’s GDP: ~0.2%

Facts

Infrastructure

Connectivity: Jammu and Kashmir is well-connected by road, rail, and air. Srinagar and Jammu are the main hubs with domestic airports, while National Highway 1A connects the state to the rest of India.
Transport: The state has a well-developed road network, and the Jammu-Udhampur-Katra Railway Line provides easy access to religious sites.
Smart Cities: Srinagar and Jammu are among the cities being developed under India’s Smart Cities Mission, with a focus on improving urban infrastructure, waste management, and public services.

Government Initiatives

Jammu & Kashmir Industrial Policy 2021: Provides incentives for new businesses, including tax exemptions, subsidies, and capital investment subsidies.
Jammu & Kashmir Tourism Policy 2021: Focuses on the development of eco-tourism, cultural tourism, and adventure tourism.
Hydropower Development Policy: Encourages private investment in hydropower projects, especially in the Chenab and Jhelum river basins.
Ease of Doing Business: Jammu and Kashmir is working on improving its business environment, including single-window clearances and land allotment policies to attract investments.

Key Sectors

Tourism

Jammu and Kashmir is one of India’s most famous tourist destinations, attracting millions of domestic and international visitors annually.
The state is renowned for its natural beauty, including Kashmir Valley, Dal Lake, and Gulmarg, which are popular for skiing and winter tourism.
Pilgrimage tourism also thrives, with Vaishno Devi Temple, Amarnath Cave, and Shankaracharya Temple drawing millions of religious tourists every year.
The state is promoting eco-tourism and adventure tourism, offering trekking, fishing, and wildlife experiences.

Horticulture and Agriculture

Jammu and Kashmir is a significant producer of apples, saffron, and dry fruits, with the Kashmir Valley being famous for its apple orchards.
The state also grows cherries, pomegranates, and almonds, which are exported to various domestic and international markets.
Sericulture (silk farming) is another prominent agricultural activity in the region.
Jammu and Kashmir is focusing on organic farming, with initiatives to boost organic certification and enhance the agricultural supply chain.

Handicrafts and Textiles

The state has a rich tradition of handicrafts, including Pashmina shawls, Kashmiri carpets, paper-mâché, and wooden crafts.
Jammu and Kashmir’s woolen industry and silk weaving are also well-regarded globally.
The state is promoting the export of handmade textiles and crafts, boosting the local economy and providing employment to many artisans.

Renewable Energy

Jammu and Kashmir is rich in hydropower resources, with a significant potential for the development of hydropower projects in its rivers and streams.
The state is focusing on renewable energy projects, including solar, wind, and small hydro-power projects.
The Jammu region is also exploring solar power opportunities, given its high solar radiation potential.

Manufacturing and Industry

Jammu and Kashmir is developing key industrial sectors such as food processing, pharmaceuticals, and cement.
The state is also focusing on the development of small and medium-sized enterprises (SMEs), providing incentives for new industries to set up in the region.
The government has created industrial hubs in Srinagar and Jammu to promote manufacturing and attract investment.

Investment Opportunities

Tourism Infrastructure

Opportunities exist in the development of luxury resorts, adventure parks, and pilgrimage infrastructure to cater to the growing number of visitors.

Horticulture and Agro-processing

Investment potential in fruit processing, cold storage, and packaging for horticultural products.

Handicrafts and Textiles

Opportunities in expanding the export of Kashmiri handicrafts, Pashmina products, and silk weaving industries.

Renewable Energy

The vast potential for hydropower and solar power offers substantial investment opportunities.

Small and Medium Enterprises (SMEs)

The state is encouraging investments in manufacturing, electronics, and food processing industries.