What All Commerce Minister Piyush Goyal has for the J&K and Ladakh's Industrial Development Indian government is planning to offer considerable incentives to promote industrial development in the UT of Jammu-Kashmir and Ladakh

By Vinayak Sharma

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The government is working on the new schemes to offer significant incentives to promote industrial development for several sectors in Jammu-Kashmir and Ladakh. According to the Union Minister for Commerce and Industry, Piyush Goyal, Ministry is formulating a plan for setting up more inland container depots, trade development centres, modern institutes of eminence and registering more products of the region with the GI tag. These schemes would boost the industrial sphere in the region and help increase employment.

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Sectors Expanding Development

Recently, the ministry has worked upon the developments in the railway sector for increasing transportation convenience in the areas. Aiming at the travel and transportation feasibility, Minister said that railways projects that are being implemented in the UTs will drive both regions towards advancement and make them among the most developed region in the next ten years. Targeting the sectors which hold great prominence in the business segments of the regions i.e. Tourism, Food processing, Hydro and Solar Power, Goyal said that these sectors are still untapped and are in the queue to enter in development process of the nation.

Also Read: What Does The 7th Pay Commission of Modi Govt. has for the J&K and Ladakh Employees

These sectors have the possibility of ensuring sustainability and balanced development in Jammu-Kashmir and Ladakh. The sectors will bring long term development in the recent future covering different parts of the region including even the remotest corner of Jammu-Kashmir and Ladakh.

Tourism Sector- Prominent Aspect of Development

According to the Commerce and Industry Minister, the Tourism sector is considered as the most developmental area in the business sphere of Jammu and Kashmir. Tourism has the potential to become one of the biggest revenue earners for the local people of the region. The prosperity of the region and the people that had been held back for so many years will now be addressed as business owners or entrepreneurs. Government Departments, public and private sector and non-governmental organizations must come together to integrate Jammu & Kashmir and Ladakh to the rest of the country. Combining the sectors in order to bring the economic profit will help the region to become a responsible entity in the country's economy.

Also Read: How PM Modi's Statement Raises Sense of Contentment in the Locals of Ladakh for Business Possibilities?

Piyush Goyal was speaking at a conclave on Kashmironomics held to discuss the strategy for the economic development of Jammu & Kashmir and Ladakh. The forum was addressed by Goyal and Smriti Zubin Irani, Union Minister of Women and Child Development and Textiles. Representatives of industry, civil society, economists and government officials were present at the conclave.

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

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