Jammu
Known as the ‘Paradise on Earth’ and famous for its mountainous landscape, tourism contributes significantly to Jammu & Kashmir’s economy. The GSDP (2011-12 prices) of J&K grew at a CAGR of 5.2% during FY16 to Rs 960 billion from Rs 783 billion in FY12. CAGR growth rates of primary, secondary and tertiary sector were 2%, 2.3% and 6.8% respectively. Further, the contribution of the primary, secondary and tertiary sector to State’s GVA in FY16 were 16%, 25% and 59% respectively. The per capita income in FY16 (current prices) was Rs 88,079.
The Industrial Policy 2004 has contributed in a major way to the sustainable industrial development of the State. Recently, the State Government has introduced the new Industrial Policy 2016 that offers attractive incentives along with single-window clearance mechanism. The state also has a J&K State Hydroelectric Projects Development Policy 2011 for the development of hydro projects in the State.
J&K boasts of a well-developed infrastructure. The total road length of J&K is 36,353 km with 2,593 km of National Highway and tele density of 77.7. The two mega projects related to four-laning of Ramban - Banihal section and Udhampur- Ramban section of NH-1A is underway, which will further improve the connectivity in the state. The State Government is also planning to construct several ropeways in an effort to boost tourism. The installed power capacity of the State is 3,143 MW and the renewable energy potential of the state is 118,208 MW, which is one of the highest in the country.
With varied agro-climatic conditions, the scope for horticulture and food production is significantly high in the state. There is considerable scope for increasing the horticulture produce, which is exported. All these factors have opened huge investment opportunities in the food processing sector. The breathtaking beauty of the state and its climate makes J&K an attractive destination for tourism. The State also offers significant potential in hydro power sector. Solar energy is another focus area which holds immense potential.
CII has been working closely with Government of Jammu & Kashmir for the overall and inclusive development of the State. As part policy advocacy agenda, CII is representing the industry viewpoint on emerging trends, shaping the industrial and sectoral policies etc. CII is also committed towards industry competitiveness by providing services like networking, industrial and business missions, seminars, training, conferences, trade fairs, exhibitions, buyer seller forums etc.
Known as the ‘Paradise on Earth’ and famous for its mountainous landscape, tourism contributes significantly to Jammu & Kashmir’s economy. The GSDP (2011-12 prices) of J&K grew at a CAGR of 5.2% during FY16 to Rs 960 billion from Rs 783 billion in FY12. CAGR growth rates of primary, secondary and tertiary sector were 2%, 2.3% and 6.8% respectively. Further, the contribution of the primary, secondary and tertiary sector to State’s GVA in FY16 were 16%, 25% and 59% respectively. The per capita income in FY16 (current prices) was Rs 88,079.
The Industrial Policy 2004 has contributed in a ...