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Business Growth

Will Jammu & Kashmir Turn Out to be the Next Level for Nation's Business Growth?

By changing the administrative structure of Kashmir, entrepreneurs from various sectors can operate well through trade and bestow companies with major chance to grow
Will Jammu & Kashmir Turn Out to be the Next Level for Nation's Business Growth?
Image credit: Pexels
Entrepreneur Staff
Correspondent, Entrepreneur India
4 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

By bringing in the era of opportunities and eradicating article 370 from the state of Jammu and Kashmir, Honorable Prime Minister Narendra Modi has brought in the world of opportunities for the people of Kashmir. It created an elbow room for several entrepreneurs to establish themselves in the valley. 

According to Home Minister Amit Shah, due to article 370, public and private sectors had no chance to open doors for employment in Kashmir. In result to which, the business sector continued to get depleted and null employment chance was provided to the people of the valley. By changing the administrative structure of Kashmir, entrepreneurs from the automobile sector, real estate, tourism and others can operate well through trade and bestow companies with major chance to grow. 

Why should we consider the new UT J&K a business base for entrepreneurs? 

Here are the 7 sectors and reasons why entrepreneurs should invest in J&K

  1. According to industry officials, there has been an eager demand for medical facilities and pharmaceuticals in the state. Investing in the medical sector will come along with business growth and better health opportunities.

  2. Due to inherent demand, sectors like tourism will bring economic boost in the valley. Along with its appealing nature around, Kashmir and tourism business go conjointly. Investing in tourism business can bring in the heavy inflow of employment for the residents. 

  3. Lack of education curbs down the region’s scope of development. Capitalizing education sector will elevate the valley’s literacy rate along with the various employment statuses like school teaching, servant, security guards, bus drivers and organization’s administrative staff.  

  4. Through the business friendly policies of the government, it is clear that trade and manufacturing opportunities can also become a part of Kashmir in respect to entrepreneurship. By this, Automobile industry can set up their plants in the state of Kashmir to provide advancement and manpower to the valley. 

  5. The business world has been expanding nationally with the rapid pace and enormous investments. Sectors like FMCG are an example of it. It has grown with incomparable success and J&K can become a golden podium for this sector to achieve its goal and provide employment to the residents of the new union territory at varied levels. 

  6. Telecommunication sector, in today’s scenario, stands for providing employment to the people at great vertical extent. Especially for a place like J&K where technological advancement always remained at the rock bottom level. Establishing the telecommunication sector in Jammu and Kashmir will boost up the developmental model as well as the literacy rate. Companies like call centres and internet providers will act as a boon to the people of the new union territory.

  7. Deprived of technological as well as financial sectors, Jammu and Kashmir can also welcome Banking business in its list of entrepreneurs which can give a drastic boon to the economy of the state. The banking sector will curb down the distance reach of the locals and create government job opportunities for the resident aspirants.  

After the Indian government decision of scrapping Article 370 and 35A from the valley, authoritative personalities came up with their statements on the national podium. 

“It’s time for us all to embrace Kashmiris as an indistinguishable and inseparable part of our national community, Can only pray for the safety of everyone over there and for an outcome that makes the nation stronger and future more positive,” said Mahindra Group Chairman Anand Mahindra 

“Hats off to PM and HM for the historical move, Like 1998, Nuclear tests, we might go through the short term problems but in the medium term, will solve the Kashmir issue by enabling its economic and social growth” mentioned Abhishek Lodha, MD and CEO, Lodha Group. 

“We are utterly convinced that this move will help us to receive a lot more investments due to fundamental change when it comes to ownership of property. Areas related to tourism and agro processing will get a boost,|” said Sameer Gupta, president, CII northern region.

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